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Belgium Insurance Report Q1 2017

  • November 2016
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates


BMI View:

The outlook for Belgium's insurance market remains relatively subdued. While the country is seeing improved economic growth, it remains one of the regional underperformers in the eurozone due to ongoing government-led austerity measures and the impact of labour market reforms. With GDP growth remaining low, both life and non-life insurance are expected to see only limited premium growth in local currency terms and currency movements mean the market will likely contract in the short-term in US dollar terms.

Key Updates And Forecasts


- Major insurers in Belgium are pursuing various channels for growth while reducing operational costs. In September 2016, leading provider AXA, while announcing plans to cut up to 650 jobs, also reported it was refocusing its life insurance offerings in the pension sector while also expanding property and casualty covers.

Table Of Contents

Belgium Insurance Report Q1 2017
BMI Industry View 5
Table: Headline Insurance Forecasts (Belgium 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Belgium 2013-2020) 11
Table: Life Insurance Claims (Belgium 2008-2013) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Belgium 2013-2020) 15
Table: Non-Life Insurance Claims (Belgium 2009-2013) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (Belgium 2013-2020) 25
Insurance Risk/Reward Index 26
Developed States Insurance Risk/Reward Index 26
Table: Developed States Insurance Risk/Reward Index - Q117 27
Market Overview 28
Life Market Overview 28
Product Offering 28
Competitive Landscape 29
Table: Gross Written Premiums in the Life Segment (USDmn), 2008-2014 30
Non-Life Market Overview 32
Product Offering 32
Competitive Landscape 32
Table: Gross Written Premiums in the Non-Life Segment (USDmn), 2008-2014 34
Company Profile 36
Ageas 36
AXA 39
Belfius 41
Ethias 43
KBC 46
Methodology 49
Industry Forecast Methodology 49
Sector-Specific Methodology 50
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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