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Netherlands Insurance Report Q3 2016

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

Includes 3 FREE quarterly updates

BMI View: The Netherlands offers one of the largest, most mature insurance markets in Europe, with totalgross life premiums written of EUR707bn in 2015 However, an adverse economic environment, as well asongoing competition, is expected to have a knock-on effect on overall demand, and as such, we expectgrowth rates to linger in the low single digits for the short to medium term Growth will be drivenpredominantly by the non-life segment, which is heavily dominated by health insurance The life market isexpected to continue to shrink owing to customers' preference for banking and retail products

Key Updates And Forecasts

- Health insurance will remain the driver of growth in the non-life sector in 2016 Roughly 84% of Dutchcitizens are believed to opt for a top-up insurance policy to cover items no longer included in their basicpolicy - which is determined by the government We are forecasting growth of 33% in health insurancepremiums, accounting to around 714% of all non-life insurance premiums written in the Netherlands

- The outlook for the life sector remains bleak, with low savings rates, a slowdown of the mortgage marketand a shift in business model, with insurers more often targeting pension volumes at the expense of highmargins all contributing to negative growth We expect to see life premiums continue to contract in 2016and 2017, before tentatively returning to growth in 2018

- A number of Dutch insurance firms have embarked on expansive cost-cutting in an attempt to boost theirsolvency positions From the 1st January 2016, an EU-wide insurance regulatory regime wasimplemented, aimed at improving consumer protection, modernising supervision, deepening EU marketintegration and increasing international competitiveness of EU insurers The regulation requiresinvestment companies to hold strict capital thresholds and publish details of risks facing them, capitaladequacy and risk management

Table Of Contents

Netherlands Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Netherlands 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Netherlands 2013-2020) 11
Table: Life Insurance Claims (Netherlands 2008-2014) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Netherlands 2013-2020) 16
Table: Non-Life Insurance Claims (Netherlands 2009-2014) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Netherlands 2013-2020) 28
Insurance Risk/Reward Index 30
Developed States Insurance Risk/Reward Index 30
Table: Developed States Insurance Risk/Reward Index - Q316 31
Market Overview 32
Life Market Overview 32
The Product Offering 32
The Competitive Landscape 33
Table: Company Performance: Life Insurance Market (USDmn) 2010-2014 34
Non-Life Market Overview 36
The Product Offering 36
The Competitive Landscape 36
Table: Non-Life Insurance Market (USDmn) 2007-2013 38
Company Profile 40
Achmea 40
Aegon 44
asr 47
Delta Lloyd 50
Nationale Nederlanden (NN Group) 53
Methodology 56
Industry Forecast Methodology 56
Risk/Reward Index Methodology 59
Table: Indicators 61
Table: Weighting of Indicators 62

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