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Denmark Insurance Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 54 pages

Includes 3 FREE quarterly updates

BMI View: On balance, the risks to our forecasts for both life and non-life insurance are to the upside. Inan environment of low interest rates and volatile financial markets, the well established life insurers shouldcapture business from banks and other conduits for organised savings. Demographics are contributing tovery strong growth in sales of health insurance. The main downside risk comes from price competition inthe non-life segment - and especially in the motor vehicle and property insurance sub-sectors.

Latest Updates And Forecasts

- In local currency terms, life insurance premiums have grown by around 4% annually over the recent past.We look for growth to continue at this rate in 2016 and through the forecast period. The main driver willbe the attraction of business by Denmark's world class life insurers from banks and other conduits fororganised savings. The life insurers generally delivered acceptable returns through 2015 - in spite of verylow interest rates and volatile markets. Some have enjoyed strong growth in premiums and contributions.On balance, the risks to our forecasts are to the upside. We note, though, that the ageing of Denmark'spopulation will likely contribute to an increase in payment of claims and benefits as more peopletransition to retirement.

- The steady growth of the non-life segment, where we are looking for premiums to rise by around 3%annually, conceals a number of divergent trends. The ageing of the population, and the inflation inhealthcare expenses, should ensure that health insurance premiums rise by around 10% annually.Conversely, minimal growth in volumes and downwards pressure on prices should result in a stagnationof premiums in the motor vehicle insurance sub-sector. Property insurance premiums should rise broadlyin line with those of the non-life segment as a whole. The non-life insurers have shown considerablediscipline in underwriting and can be expected to continue to exercise good control of claims and othercosts.

Table Of Contents

Denmark Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Denmark 2012-2019) 5
SWOT 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Denmark 2012-2019) 11
Table: Life Insurance Claims (Denmark 2007-2013) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Denmark 2012-2019) 15
Table: Non-Life Insurance Claims (Denmark 2008-2013) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (Denmark 2012-2019) 26
Insurance Risk/Reward Index 28
Developed States Insurance Risk/Reward Index 28
Table: Developed States Insurance Risk/Reward Index 29
Market Overview 30
Life Market Overview 30
The Product Offering 30
Table: Life Premiums (USDmn), 2007-2013 31
The Competitive Landscape 32
Table: Life Market Shares (%), 2007-2013 32
Non-Life Market Overview 34
The Product Offering 34
The Competitive Landscape 35
Table: Non-Life Premiums (USDmn) 2007-2013 35
Table: Non-Life Market Shares (%), 2007-2013 36
Company Profile 38
Danica 38
Nordea Liv 41
PFA Pension 43
Tryg 45
Methodology 48
Industry Forecast Methodology 48
Risk/Reward Index Methodology 51
Table: Indicators 53
Table: Weighting of Indicators 54

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