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Published: Aug, 2016 | Pages:
135 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
Timetric's 'Non-Life Insurance in Belgium, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Belgian non-life insurance segment, and a comparison of the Belgian insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Belgian economy and demographics, explains the various types of natural hazard and their impact on the Belgian insurance industry, and provides detailed information on the competitive landscape in the country. The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Summary
Timetric's 'Non-Life Insurance in Belgium, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Belgian non-life insurance segment, including: • The Belgian non-life insurance segment's detailed outlook by product category • A comprehensive overview of the Belgian economy and demographics • A comparison of the Belgian insurance industry with its regional counterparts • The various distribution channels in the Belgian non-life insurance segment • Detailed analysis of natural hazards and their impact on the Belgian insurance industry • Details of the competitive landscape in the non-life insurance segment in Belgium • Details of regulatory policy applicable to the Belgian insurance industry
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Belgium: • It provides historical values for the Belgian non-life insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period. • It offers a detailed analysis of the key categories in the Belgian non-life insurance segment, and market forecasts to 2019. • It profiles the top non-life insurance companies in Belgium, and outlines the key regulations affecting them.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Belgian non-life insurance segment, and each category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Belgian non-life insurance segment. • Assess the competitive dynamics in the non-life insurance segment. • Identify growth opportunities and market dynamics in key product categories. • Gain insights into key regulations governing the Belgian insurance industry, and their impact on companies and the industry's future.
Key Highlights
• Solvency II was implemented on January 1, 2016. • An increasing focus on The Reinsurance and Insurance Pool (TRIP) to counter the evolving threat of terrorism has led to an annual growth of 3-5% for covering damage owing to terrorism risks since 2012. • In June 2014, the European Parliament passed new rules for insurance investment products to improve investor protection. • On September 4, 2014, the European Court of Justice delivered a judgment requiring motor to cover accidents on private land.
Table of Contents
1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Segment Outlook 4.1 Segment Indicators 4.1.1 Gross written premium and penetration 4.1.2 Claims 4.1.3 Profitability 4.1.4 Assets and investments 5 Outlook by Category 5.1 Property Insurance 5.1.1 Product overview 5.1.2 Premium 5.1.3 Claims 5.1.4 Profitability 5.2 Motor Insurance 5.2.1 Product overview 5.2.2 Premium 5.2.3 Claims 5.2.4 Profitability 5.3 Liability Insurance 5.3.1 Product overview 5.3.2 Premium 5.3.3 Claims 5.3.4 Profitability 5.4 Marine, Aviation and Transit Insurance 5.4.1 Product overview 5.4.2 Premium 5.4.3 Claims 5.4.4 Profitability 6 Distribution Channel Outlook 6.1 Analysis by Distribution Channel 6.1.1 Agencies 6.1.2 Insurance brokers 6.1.3 Direct marketing 6.1.4 Bancassurance 7 Natural Hazards 7.1 Floods 7.2 Storms 7.3 Extreme Temperatures 7.4 Earthquakes 7.5 Exposure 8 Competitive Landscape 8.1 Overview 8.2 Leading Companies in the Belgium Non-Life Insurance Segment 8.2.1 Axa Belgium SA - Company Overview 8.2.2 AG Insurance - Company Overview 8.2.3 Ethias - Company Overview 8.2.4 CBC Assurances - Company Overview 8.2.5 Baloise Insurance - Company Overview 8.2.6 Belfius (Belins) Insurance Belgium SA - Company Overview 8.2.7 DKV Belgium - Company Overview 8.2.8 Allianz Belgium - Company Overview 8.2.9 Vivium - Company Overview 8.2.10 P&V Assurance - Company Overview 9 Governance, Risk and Compliance 9.1 Legislation Overview and Historical Evolution 9.2 Latest Changes in Regulations 9.3 Legislation and Market Practice by Type of Insurance 9.3.1 Life insurance 9.3.2 Property insurance 9.3.3 Motor insurance 9.3.4 Liability insurance 9.3.5 Marine, aviation and transit insurance 9.3.6 Personal accident and health insurance 9.4 Compulsory Insurance 9.4.1 Motor third-party liability insurance 9.4.2 Social insurance system 9.4.3 Air carrier and aircraft operators insurance 9.4.4 Professional indemnity insurance for alternative investment fund managers 9.4.5 Clinical trials liability insurance 9.4.6 Professional indemnity insurance for insurance intermediaries 9.5 Supervision and Control 9.5.1 International Association of Insurance Supervisors (IAIS) 9.5.2 European Insurance and Occupational Pensions Authority (EIOPA) 9.5.3 Federation of European Risk Management Associations (FERMA) 9.5.4 National Bank of Belgium (NBB) 9.5.5 The Financial Services and Markets Authority (FSMA) 9.6 Non-Admitted Insurance Regulations 9.6.1 Overview 9.6.2 Intermediaries 9.6.3 Market practices 9.6.4 Fines and penalties 9.7 Company Registration and Operations 9.7.1 Types of insurance organization 9.7.2 Establishing a domestic company 9.7.3 Foreign ownership 9.7.4 Types of license 9.7.5 Capital requirements 9.7.6 Solvency margins 9.7.7 Reserve requirements 9.7.8 Investment regulations 9.7.9 Statutory return requirements 9.7.10 Fee structure 9.8 Taxation 9.8.1 Insurance premium or policy taxation 9.8.2 Withholding taxes on premium paid overseas 9.8.3 Corporate tax 9.8.4 VAT 9.8.5 Captives 9.9 Legal System 9.9.1 Introduction 9.9.2 Access to court 9.9.3 Alternative dispute resolution (ADR) 10 Databook 10.1 Policies and Premium 10.2 Claims and Expenses 10.3 Assets and Investments 10.4 Direct Marketing 10.5 Insurance Brokers and Agencies 10.6 Bancassurance and Other Distribution Channels 10.7 Property Insurance 10.8 Property Insurance by Product 10.9 Motor Insurance 10.1 Motor Insurance by Product 10.11 Liability Insurance 10.12 Marine, Aviation and Transit Insurance 11 Definitions and Methodology 11.1 Definitions 11.2 Methodology 12 About Timetric 12.1 Contact Timetric 12.2 About Timetric 12.3 Timetric's Services 12.4 Disclaimer
List of Tables
Table 1: Belgian Non-Life Insurance - Key Facts, 2014 Table 2: Belgian Non-Life Insurance - Segment Shares of the Top Insurers, 2014 Table 3: Belgium Government Credit Ratings Table 4: Belgian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014 Table 5: Belgian Non-Life Insurance - Penetration (%), 2010-2014 Table 6: Belgian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019 Table 7: Belgian Non-Life Insurance - Penetration (%), 2014-2019 Table 8: Belgian Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014 Table 9: Belgian Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019 Table 10: Belgian Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 11: Belgian Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 12: Belgian Non-Life Insurance - Profitability Ratio (%), 2010-2014 Table 13: Belgian Non-Life Insurance - Profitability Ratio (%), 2014-2019 Table 14: Belgian Non-Life Insurance - Solvency Position, 2010-2014 Table 15: Belgian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014 Table 16: Belgian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019 Table 17: Belgian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2010-2014 Table 18: Belgian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2014-2019 Table 19: Belgian Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2014 Table 20: Belgian Non-Life Insurance - Investment Portfolio (EUR Billion), 2014-2019 Table 21: Belgian Non-Life Insurance - Direct Written Premium by Category (EUR Billion), 2010-2014 Table 22: Belgian Non-Life Insurance - Direct Written Premium by Category (EUR Billion), 2014-2019 Table 23: Belgian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2014 Table 24: Belgian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2014-2019 Table 25: Belgian Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 26: Belgian Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 27: Belgian Property Insurance - Loss Ratio (%), 2010-2014 Table 28: Belgian Property Insurance - Loss Ratio (%), 2014-2019 Table 29: Belgian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2014 Table 30: Belgian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2014-2019 Table 31: Belgian Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 32: Belgian Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 33: Belgian Motor Insurance - Loss Ratio (%), 2010-2014 Table 34: Belgian Motor Insurance - Loss Ratio (%), 2014-2019 Table 35: Belgian Liability Insurance - Direct Written Premium (EUR Billion), 2010-2014 Table 36: Belgian Liability Insurance - Direct Written Premium (EUR Billion), 2014-2019 Table 37: Belgian Liability Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 38: Belgian Liability Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 39: Belgian Liability Insurance - Loss Ratio (%), 2010-2014 Table 40: Belgian Liability Insurance - Loss Ratio (%), 2014-2019 Table 41: Belgian Transport Network - Global Rankings Table 42: Belgian Marine, Aviation and Transit Insurance - Direct Written Premium (EUR Million), 2010-2014 Table 43: Belgian Marine, Aviation and Transit Insurance - Direct Written Premium (EUR Million), 2014-2019 Table 44: Belgian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014 Table 45: Belgian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019 Table 46: Belgian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014 Table 47: Belgian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019 Table 48: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2010-2014 Table 49: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2014-2019 Table 50: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019 Table 51: Belgian Top 10 Disasters, Economic Damage, 1990-2014 Table 52: Belgian Average Annual Loss by Hazard Table 53: Shares of Key Insurers in the Belgian Non-Life Insurance Segment (%), 2014 Table 54: Axa Belgium SA- Key Facts Table 55: Axa Belgium SA - Key Financials (EUR Million) Table 56: AG Insurance - Key Facts Table 57: Axa Belgium SA - Key Financials (EUR Million) Table 58: Ethias - Key Facts Table 59: Ethias - Key Financials (EUR Million) Table 60: CBC Assurances - Key Facts Table 61: CBC Assurances - Key Financials (EUR Million) Table 62: Baloise Insurance - Key Facts Table 63: Baloise Insurance - Key Financials (EUR Million) Table 64: Belfius Insurance Belgium SA - Key Facts Table 65: Baloise Insurance - Key Financials (EUR Million) Table 66: DKV Belgium - Key Facts Table 67: DKV Belgium - Key Financials (EUR Million) Table 68: Allianz Belgium - Key Facts Table 69: Allianz Belgium - Key Financials (EUR Million) Table 70: Vivium - Key Facts Table 71: Vivium - Key Financials (EUR Million) Table 72: P&V Assurance - Key Facts Table 73: Vivium - Key Financials (EUR Million) Table 74: Belgium - Insurance Regulatory Framework Key Features Table 75: Belgium - Life Insurance Regulatory Framework Table 76: Belgium - Property Insurance Regulatory Framework Table 77: Belgium - Motor Insurance Regulatory Framework Table 78: Belgium - Liability Insurance Regulatory Framework Table 79: Belgium - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft Table 80: Belgium - Insurance Premium Taxation 2016 Table 81: Belgium - Corporate Tax Rates for the Financial Year Ending 2016 Table 82: Belgian Insurance Industry - Policies and Premium, 2010-2014 Table 83: Belgian Insurance Industry - Policies and Premium, 2014-2019 Table 84: Belgian Non-Life Insurance - Claims and Expenses, 2010-2014 Table 85: Belgian Non-Life Insurance - Claims and Expenses, 2014-2019 Table 86: Belgian Non-Life Insurance - Assets and Investments, 2010-2014 Table 87: Belgian Non-Life Insurance - Assets and Investments, 2014-2019 Table 88: Belgian Non-Life Insurance - Direct Marketing and E-Commerce, 2010-2014 Table 89: Belgian Non-Life Insurance - Direct Marketing and E-Commerce, 2014-2019 Table 90: Belgian Non-Life Insurance - Insurance Brokers and Agencies, 2010-2014 Table 91: Belgian Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019 Table 92: Belgian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2010-2014 Table 93: Belgian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2014-2019 Table 94: Belgian Non-Life Insurance - Property Insurance, 2010-2014 Table 95: Belgian Non-Life Insurance - Property Insurance, 2014-2019 Table 96: Belgian Non-Life Insurance - Property Insurance by Product, 2010-2014 Table 97: Belgian Non-Life Insurance - Property Insurance by Product, 2014-2019 Table 98: Belgian Non-Life Insurance - Motor Insurance, 2010-2014 Table 99: Belgian Non-Life Insurance - Motor Insurance, 2014-2019 Table 100: Belgian Non-Life Insurance - Motor Insurance by Product, 2010-2014 Table 101: Belgian Non-Life Insurance - Motor Insurance by Product, 2014-2019 Table 102: Belgian Non-Life Insurance - Liability Insurance, 2010-2014 Table 103: Belgian Non-Life Insurance - Liability Insurance, 2014-2019 Table 104: Belgian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014 Table 105: Belgian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019 Table 106: Insurance Industry Definitions
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