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Luxembourg Insurance Report Q1 2016

  • January 2016
  • -
  • Business Monitor International
  • -
  • 48 pages

BMI View: The medium to long-term outlook for Luxembourg's insurance market remains largely positive.Both the life and non-life sector, following a contraction in 2015, are expected to record solid growth ofaround 5-6% annually from 2016 until the end of the forecast period in 2019. Non-life insurance is lessdeveloped than the more established life sector and, due to a several factors including declining vehiclefleets and a stagnant property market we expect life insurance to outperform the smaller non-life line.The insurance market, particularly the life sector, is highly competitive and fragmented which does createbarriers for new entrants and moving forward we would expect to see some market consolidation, withsmaller groups losing out to international conglomerates.

Key Updates And Forecasts

- Luxembourg reportedly plans to implement a tax on registered cars - the 3% tax on liability insurancewill fund the Duchy's emergency services.

- Following a difficult year in 2015, Luxembourg's well established life sector is expect to return to growthfrom 2016 onwards leading to premiums of USD34.0bn in 2019, up from USD25.8bn in 2015.

- The smaller non-life sector is also expected to record solid growth over the latter stages of the forecastperiod, with gross non-life premiums forecast to increase from USD3.4bn in 2015 to USD4.6bn in 2019.

Table Of Contents

Luxembourg Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Luxembourg 2012-2019) 5
SWOT 6
Industry Forecast 7
Life Premiums Forecast 7
Table: Life Premiums (Luxembourg 2012-2019) 10
Table: Life Insurance Claims (Luxembourg 2007-2013) 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Luxembourg 2012-2019) 14
Table: Non-Life Insurance Claims (Luxembourg 2008-2013) 16
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (Luxembourg 2012-2019) 25
Industry Risk Reward Ratings 26
Developed States Insurance Risk/Reward Index 26
Table: Developed States Insurance Risk/Reward Index 27
Market Overview 28
Life Market Overview 28
The Product Offering 28
The Competitive Landscape 28
Non-Life Market Overview 30
The Product Offering 30
The Competitive Landscape 31
Company Profile 32
Cardif Lux Vie 32
Foyer SA 34
La Luxembourgeoise (Lalux) 36
La Mondiale Europartner 38
Lombard International Assurance 40
Methodology 42
Industry Forecast Methodology 42
Risk/Reward Index Methodology 45
Table: Indicators 47
Table: Weighting of Indicators 48

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