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  4. > Luxembourg Insurance Report Q4 2015

Luxembourg Insurance Report Q4 2015

  • September 2015
  • -
  • Business Monitor International
  • -
  • 57 pages

Includes 3 FREE quarterly updates

BMI View We have a favourable long-term outlook for Luxembourg's insurance sector, with both majorsegments expected to grow at an annual rate of 5-6% in the next years. With 12% market share, non-lifeinsurance is significantly smaller and, due to a several factors including declining vehicle fleets and astagnant property market, we expect life insurance to persistently outperform. The high levels ofcompetition and market fragmentation, however, induce high entry barriers especially in life insurance,making it more difficult for newcomers to establish a presence through organic growth routes. The sectormay therefore see some market consolidation, with smaller groups losing out to internationalconglomerates.

With a well-respected regulatory environment, political stability and a strong labour force, Luxembourg isone of the key centres for international insurance in Europe. This is further reflected by Luxembourg's highpenetration rate (i.e. premiums as a percentage of GDP) and density (i.e. premiums per capita). The lion'sshare of direct insurance premiums, however, pertains to risks and lives that are outside of the Grand Duchy-- some 90% in the case of life insurance, which has certain implications for the growth prospects of totalpremiums as this will depend on the fortunes of the international life insurance companies. Likewise, almostall of the sizeable reinsurance that is booked in Luxembourg covers business written elsewhere.

Table Of Contents

Luxembourg Insurance Report Q4 2015
BMI Industry View 7
Industry Forecast 10
Life Premiums Forecast 10
Table: Gross Life Premiums Written (Luxembourg 2012-2019) 11
Life Claims 12
Table: Life Insurance Claims (Luxembourg 2007-2014) 13
Life Insurers' Assets 13
Table: Assets (Luxembourg 2007-2014) 13
Life Insurance Drivers 14
Table: Life Expectancy by Gender (Luxembourg 2012-2019) 14
Table: Demographic Breakdown (Luxembourg 2012-2019) 15
Non-Life Premiums Forecast 16
Table: Gross Non-Life Premiums Written (Luxembourg 2012-2019) 18
Non-Life Claims 18
Table: Non-Life Insurance Claims (Luxembourg 2007-2014) 19
Table: Non-Life Insurance Claims by Line (Luxembourg 2007-2014) 19
Non-Life Insurers' Assets 20
Table: Assets (Luxembourg 2007-2014) 20
Non-Life Sub-Sector Forecast 21
Table: Non-Life % Breakdown (Luxembourg 2012-2019) 22
Motor and Transport Insurance 22
Table: Motor Vehicle Insurance (Luxembourg 2012-2019) 23
Table: Insurance Key Drivers, Autos (Luxembourg 2012-2019) 23
Table: Transport Insurance (Luxembourg 2012-2019) 25
Property Insurance 25
Table: Property Insurance (Luxembourg 2012-2019) 26
Health and Personal Accident Insurance 26
Table: Health Insurance (Luxembourg 2012-2019) 26
Table: Insurance Key Drivers, Private Health Expenditure (Luxembourg 2012-2019) 27
Table: Personal Accident Insurance (Luxembourg 2012-2019) 27
Credit and General Liability Insurance 28
Table: Credit/Financial Guarantee Insurance (Luxembourg 2012-2019) 28
Table: General Liability Insurance (Luxembourg 2012-2019) 29
Industry Risk Reward Ratings 30
Developed States Insurance Risk/Reward Index 30
Table: Developed States Insurance Risk/Reward Index 31
Market Overview 32
Life Market Overview 32
The Product Offering 32
The Competitive Landscape 32
Non-Life Market Overview 34
The Product Offering 34
The Competitive Landscape 35
Company Profile 36
Cardif Lux Vie 36
Foyer SA 38
La Luxembourgeoise (Lalux) 40
La Mondiale Europartner 42
Lombard International Assurance 44
Demographic Forecast 46
Table: Population Headline Indicators (Luxembourg 1990-2025) 47
Table: Key Population Ratios (Luxembourg 1990-2025) 47
Table: Urban/Rural Population and Life Expectancy (Luxembourg 1990-2025) 48
Table: Population By Age Group (Luxembourg 1990-2025) 48
Table: Population By Age Group % (Luxembourg 1990-2025) 49
Methodology 51
Industry Forecast Methodology 51
Risk/Reward Index Methodology 54
Table: Indicators 56
Table: Weighting of Indicators 57

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