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Sweden Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 51 pages

Includes 3 FREE quarterly updates

BMI View: The latest news flow confirms our view that Sweden's life insurance sector will continue to growfaster than nominal GDP through the forecast period, with the result that life penetration rises from whatare already very high levels of about 6% of GDP. By contrast, price competition will constrain theexpansion of premiums within the property and motor vehicle insurance sub-sectors and, therefore, acrossthe non-life segment as a whole.

Key Updates And Forecasts

- In a country famed for the extensiveness of its social security system, Swedish households have tended tochannel excess savings into the investment, protection and pensions products that are offered by the lifeinsurance companies. The insurers benefit from scale, strong brands, multi-channel distribution,(frequently) association with larger financial (or other) institutions and products which are adaptedspecifically for the Swedish market. Latest news flow has highlighted the efforts of the life insurers tocontrol costs. Over the forecast period, rising incomes, excess savings of households and continuedproduct innovation by the insurers should ensure that premiums rise by 5-6% annually. Sweden's ageingdemographics should also contribute to growth in demand for retirement savings offerings.

- The prospects of the smaller non-life segment will continue to be defined by two factors. One is theinsurers' relatively small involvement with health insurance cover. The other is persistent pricecompetition in the important property and motor vehicle insurance sub-sectors. Although both sub-sectorsshould enjoy some volume growth, downwards pressure on prices will limit growth in premiums to 2-3%annually through the forecast period - with the result that non-life penetration falls from what are alreadylow levels for a country which has very high per capita incomes.

Table Of Contents

Sweden Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Sweden 2013-2020) 5
SWOT 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Sweden 2013-2020) 12
Table: Life Insurance Claims, Sweden 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Sweden 2013-2020) 16
Table: Non-Life Insurance Claims, Sweden 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (Sweden 2013-2020) 25
Insurance Risk/Reward Index 26
Developed States Insurance Risk/Reward Index 26
Table: Developed States Insurance Risk/Reward Index - Q216 27
Market Overview 28
Life Market Overview 28
The Product Offering 28
The Competitive Landscape 29
Table: Sweden Life Insurer Market Share (USDmn) 31
Non-Life Market Overview 32
The Product Offering 32
The Competitive Landscape 33
Table: Sweden Non Life Insurer Market Share (USDmn) 35
Company Profile 36
Alecta 36
Folksam 38
If Skadeförsäkring 41
Skandia 43
Methodology 45
Industry Forecast Methodology 45
Risk/Reward Index Methodology 48
Table: Indicators 50
Table: Weighting of Indicators 51

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