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Non-Life Insurance in Malta, Key Trends and Opportunities to 2019

  • June 2016
  • -
  • Timetric
  • -
  • 122 pages

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Synopsis
Timetric’s 'Non-Life Insurance in Malta, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Maltese non-life insurance segment, and a comparison of the Maltese insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Maltese economy and demographics, explains the various types of natural hazard and their impact on the Maltese insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Malta, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Maltese non-life insurance segment, including:

• The Maltese non-life insurance segment’s detailed outlook by product category

• A comprehensive overview of the Maltese economy and demographics

• A comparison of the Maltese insurance industry with its regional counterparts

• The various distribution channels in the Maltese non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Maltese insurance industry

• Details of the competitive landscape in the non-life insurance segment in Malta

• Details of regulatory policy applicable to the Maltese insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Malta:

• It provides historical values for the Maltese non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

• It offers a detailed analysis of the key categories in the Maltese non-life insurance segment, and market forecasts to 2019.

• It profiles the top non-life insurance companies in Malta, and outlines the key regulations affecting them.

Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Maltese non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Maltese non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Maltese insurance industry, and their impact on companies and the industry's future.

Key Highlights
• A unique feature of the Maltese insurance industry is its emergence as a captive insurance and reinsurance domicile. As of 2014, 45 companies were licensed to conduct non-life insurance in the country.

• The non-life segment accounted for 63.8% of the industry’s gross written premium in 2014. Property insurance was the largest category, and accounted for 65.3% of the non-life gross written premium in 2014.

• Motor third-party liability insurance is mandatory. Insurers are rapidly adapting usage-based telematics motor insurance. Motor insurance products for different vehicles such as private, commercial, electric and hybrid, classic and vintage cars are available in Malta.

• Malta’s economy is dominated by banks, financial services and the online gaming industry, and largely depends on technology and telecommunications. Cyber-risk is the second-largest risk to service sector businesses, and the demand for cyber-liability insurance in Malta is expected to rise over the forecast period.

• The sale of general insurance has traditionally been conducted through direct channels in Malta and the continuation of this trend is reflected in the dominance it exhibits as the leading distribution channel.

• Insurance companies domiciled outside Malta can be redomiciled in the form of a captive. Malta houses numerous licensed insurance management companies, which can advise on the formation and day-to-day operation of a PCC or ICC or captive company, to companies new to the captive insurance market.

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