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Personal Accident and Health Insurance in Luxembourg, Key Trends and Opportunities to 2019

Published: Apr 22, 2016 | Pages: 126 | Publisher: Timetric | Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Personal Accident and Health Insurance in Luxembourg, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Luxembourg personal accident and health insurance segment. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and claims during the review period (2010-2014) and over the forecast period (2014-2019). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Luxembourg's economy and demographics, 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 'Personal Accident and Health Insurance in Luxembourg, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Luxembourg personal accident and health insurance segment, including: The Luxembourg personal accident and health insurance segment's growth prospects by insurance category The key trends, drivers and challenges for the personal accident and health insurance segment A comprehensive overview of Luxembourg's economy and demographics The various distribution channels in the Luxembourg personal accident and health insurance segment Details of the competitive landscape in the personal accident and health insurance segment in Luxembourg Details of regulatory policies applicable to the Luxembourg insurance industry
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Luxembourg: It provides historical values for the Luxembourg personal accident and health 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 Luxembourg personal accident and health insurance segment, and market forecasts to 2019. It analyzes the various distribution channels for personal accident and health insurance products in Luxembourg. It profiles the top personal accident and health insurance companies in Luxembourg, 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 Luxembourg personal accident and health insurance segment, and each category within it. Understand the demand-side dynamics, key market trends and growth opportunities in the Luxembourg personal accident and health insurance segment. Assess the competitive dynamics in the personal accident and health insurance segment. Identify growth opportunities and market dynamics in key product categories. Gain insights into key regulations governing the Luxembourg insurance industry, and their impact on companies and the industry's future.
Key Highlights
Luxembourg has a compulsory public health system that offers universal cover and the ability to choose hospitals and doctors, leaving little scope for private insurance. The personal accident and health segment accounted for 0.8% of the industry's gross written premium in 2014, remaining resilient to economic difficulties and recording robust growth. Changing demographics and an emphasis on providing high-quality affordable healthcare are expected to drive growth in the segment over the forecast period. Many private health insurers primarily focused on the country's large expatriate and immigrant population.
 Table of Contents
1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Personal Accident and Health Insurance Segment Outlook 4.1 Key Drivers 4.2 Key Trends 4.3 Challenges 4.4 Personal Accident and Health Insurance Growth Prospects by Category 4.4.1 Personal accident insurance 4.4.2 Travel insurance 4.4.3 Health insurance 5 Analysis by Distribution Channel 6 Competitive Landscape and Strategic Insights 6.1 Overview 6.2 Leading Companies in the Luxembourg Personal Accident and Health Insurance Segment 6.2.1 Globality SA - company overview 6.2.2 DKV Luxembourg - company overview 6.2.3 National General Insurance Luxembourg SA - company overview 6.2.4 Foyer Sante - company overview 6.2.5 Axa Assurances Luxembourg - company overview 6.2.6 La Luxembourgeoise - company overview 6.2.7 Foyer Assurances - company overview 6.2.8 Swiss Re International - company overview 6.2.9 Baloise Assurances Luxembourg SA - company overview 6.2.10 Arisa Assurances - company overview 7 Governance, Risk and Compliance 7.1 Legislation Overview and Historical Evolution 7.2 Latest Changes in Regulations 7.3 Legislation and Market Practice by Type of Insurance 7.3.1 Life insurance 7.3.2 Property insurance 7.3.3 Motor insurance 7.3.4 Liability insurance 7.3.5 Marine, aviation and transit insurance 7.3.6 Personal accident and health insurance 7.4 Compulsory Insurance 7.4.1 Motor third-party liability insurance (MTPL) 7.4.2 Social insurance system 7.4.3 Air carriers and aircraft operators liability insurance 7.4.4 Marine insurance 7.4.5 Professional indemnity insurance for alternative investment fund managers 7.5 Supervision and Control 7.5.1 International Association of Insurance Supervisors (IAIS) 7.5.2 European Insurance and Occupational Pensions Authority (EIOPA) 7.5.3 Insurance Commission (Commissariat aux Assurance) 7.5.4 Federation of European Risk Management Associations (FERMA) 7.5.5 Association of Insurance Companies and Reinsurance (ACA) 7.6 Non-Admitted Insurance Regulations 7.6.1 Overview 7.6.2 Intermediaries 7.6.3 Market practices 7.6.4 Fines and penalties 7.7 Company Registration and Operations 7.7.1 Types of insurance organization 7.7.2 Establishing a local company 7.7.3 Foreign ownership 7.7.4 Types of license 7.7.5 Capital requirements 7.7.6 Solvency margins 7.7.7 Reserve requirements 7.7.8 Investment regulations 7.7.9 Statutory return requirements 7.7.10 Fee structure 7.8 Taxation 7.8.1 Insurance premium or policy taxation 7.8.2 Withholding taxes on premium paid overseas 7.8.3 Corporate tax 7.8.4 VAT 7.8.5 Captives 7.9 Legal System 7.9.1 Introduction 7.9.2 Access to court 7.9.3 Alternative dispute resolution (ADR) 8 Definitions and Methodology 8.1 Definitions 8.2 Methodology 9 About Timetric 9.1 Contact Timetric 9.2 About Timetric 9.3 Timetric's Services 9.4 Disclaimer
List of Tables
Table 1: Luxembourg Personal Accident and Health Insurance - Key Facts, 2014 Table 2: Luxembourg Government Credit Ratings Table 3: Luxembourg Personal Accident and Health Insurance - Gross Written Premium by Category (EUR Million), 2010-2014 Table 4: Luxembourg Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014 Table 5: Luxembourg Personal Accident and Health Insurance - Gross Written Premium by Category (EUR Million), 2014-2019 Table 6: Luxembourg Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019 Table 7: Luxembourg Personal Accident and Health Insurance - Direct Written Premium by Category (EUR Million), 2010-2014 Table 8: Luxembourg Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014 Table 9: Luxembourg Personal Accident and Health Insurance - Direct Written Premium by Category (EUR Million), 2014-2019 Table 10: Luxembourg Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019 Table 11: Luxembourg Personal Accident and Health Insurance - Net Earned Premium (EUR Million), 2010-2014 Table 12: Luxembourg Personal Accident and Health Insurance - Net Earned Premium (EUR Million), 2014-2019 Table 13: Luxembourg Personal Accident and Health Insurance - Paid Claims by Category (EUR Million), 2010-2014 Table 14: Luxembourg Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2010-2014 Table 15: Luxembourg Personal Accident and Health Insurance - Paid Claims by Category (EUR Million), 2014-2019 Table 16: Luxembourg Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2014-2019 Table 17: Luxembourg Personal Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2010-2014 Table 18: Luxembourg Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2010-2014 Table 19: Luxembourg Personal Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2014-2019 Table 20: Luxembourg Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2014-2019 Table 21: Luxembourg Personal Accident and Health Insurance - Net Written Premium by Category (EUR Million), 2010-2014 Table 22: Luxembourg Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2010-2014 Table 23: Luxembourg Personal Accident and Health Insurance - Net Written Premium by Category (EUR Million), 2014-2019 Table 24: Luxembourg Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2014-2019 Table 25: Luxembourg Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014 Table 26: Luxembourg Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019 Table 27: Luxembourg Personal Accident and Health Insurance - Commission and Expenses (EUR Million), 2010-2014 Table 28: Luxembourg Personal Accident and Health Insurance - Commission and Expenses (EUR Million), 2014-2019 Table 29: Luxembourg Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014 Table 30: Luxembourg Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019 Table 31: Luxembourg Personal Accident and Health Insurance - Total Assets (EUR Million), 2010-2014 Table 32: Luxembourg Personal Accident and Health Insurance - Total Assets (EUR Million), 2014-2019 Table 33: Luxembourg Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014 Table 34: Luxembourg Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019 Table 35: Luxembourg Personal Accident Insurance - Direct Written Premium (EUR Million), 2010-2014 Table 36: Luxembourg Personal Accident Insurance - Direct Written Premium (EUR Million), 2014-2019 Table 37: Luxembourg Personal Accident Insurance - Loss Ratio (%), 2010-2014 Table 38: Luxembourg Personal Accident Insurance - Loss Ratio (%), 2014-2019 Table 39: Luxembourg Travel Insurance - Direct Written Premium (EUR Million), 2010-2014 Table 40: Luxembourg Travel Insurance - Direct Written Premium (EUR Million), 2014-2019 Table 41: Luxembourg Travel Insurance - Loss Ratio (%), 2010-2014 Table 42: Luxembourg Travel Insurance - Loss Ratio (%), 2014-2019 Table 43: Luxembourg Health Insurance - Gross Written Premium (EUR Million), 2010-2014 Table 44: Luxembourg Health Insurance - Gross Written Premium (EUR Million), 2014-2019 Table 45: Luxembourg Health Insurance - Direct Written Premium (EUR Million), 2010-2014 Table 46: Luxembourg Health Insurance - Direct Written Premium (EUR Million), 2014-2019 Table 47: Luxembourg Health Insurance - Paid Claims (EUR Million), 2010-2014 Table 48: Luxembourg Health Insurance - Paid Claims (EUR Million), 2014-2019 Table 49: Luxembourg Health Insurance - Loss Ratio (%), 2010-2014 Table 50: Luxembourg Health Insurance - Loss Ratio (%), 2014-2019 Table 51: Luxembourg Health Insurance - Net Written Premium (EUR Million), 2010-2014 Table 52: Luxembourg Health Insurance - Net Written Premium (EUR Million), 2014-2019 Table 53: Luxembourg Personal Accident and Health Insurance - Segment Shares (%), 2014 Table 54: Globality SA, Key Facts Table 55: Globality SA - Key Financials (EUR Million), 2012-2014 Table 56: DKV Luxembourg, Key Facts Table 57: DKV Luxembourg - Key Financials (EUR Million), 2010-2014 Table 58: National General Insurance Luxembourg SA Key Facts Table 59: Foyer Sante - Key Facts Table 60: Foyer Sante - Key Financials (EUR Million), 2010-2014 Table 61: Axa Assurances Luxembourg, Key Facts Table 62: Axa Assurances Luxembourg - Key Financials (EUR Million), 2010-2014 Table 63: La Luxembourgeoise, Key Facts Table 64: La Luxembourgeoise - Key Financials (EUR Million), 2010-2014 Table 65: Foyer Assurances, Key Facts Table 66: Foyer Assurances - Key Financials (EUR Million), 2010-2014 Table 67: Swiss Re International, Key Facts Table 68: Swiss Re International - Key Financials (EUR Million), 2010-2014 Table 69: Baloise Assurances Luxembourg SA, Key Facts Table 70: Arisa Assurances, Key Facts Table 71: Luxembourg - Insurance Regulatory Framework Key Features Table 72: Luxembourg - Life Insurance Regulatory Framework Table 73: Luxembourg - Property Insurance Regulatory Framework Table 74: Luxembourg - Motor Insurance Regulatory Framework Table 75: Luxembourg - Liability Insurance Regulatory Framework Table 76: Luxembourg - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Table 77: Luxembourg - Insurance Premium Taxation Table 78: Luxembourg - Corporate Tax Rate for the Financial Year 2015 Table 79: Insurance Industry Definitions


List of Figures
Figure 1: Luxembourg Real GDP (EUR Billion), 2010-2019 Figure 2: EUR-US$ Exchange Rate, 2010-2019 Figure 3: Luxembourg Consumer Price Inflation, 2010-2019 Figure 4: Luxembourg Current Account Balance as a Percentage of GDP (%), 2010-2014 Figure 5: Luxembourg Unemployment Rate, 2010-2019 Figure 6: Luxembourg Population by Age Group, 1991-2025 Figure 7: Luxembourg Road Accidents, 2010-2014 Figure 8: Luxembourg Personal Accident and Health Insurance - Gross Written Premium by Category (EUR Million), 2010-2019 Figure 9: Luxembourg Personal Accident and Health Insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019 Figure 10: Luxembourg Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019 Figure 11: Luxembourg Personal Accident and Health Insurance - Direct Written Premium by Category (EUR Million), 2010-2019 Figure 12: Luxembourg Personal Accident and Health Insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019 Figure 13: Luxembourg Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019 Figure 14: Luxembourg Personal Accident and Health Insurance - Net Earned Premium (EUR Million), 2010-2014 Figure 15: Luxembourg Personal Accident and Health Insurance - Net Earned Premium (EUR Million), 2014-2019 Figure 16: Luxembourg Personal Accident and Health Insurance - Paid Claims by Category (EUR Million), 2010-2019 Figure 17: Luxembourg Personal Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2010-2019 Figure 18: Luxembourg Personal Accident and Health Insurance - Net Written Premium by Category (EUR Million), 2010-2019 Figure 19: Luxembourg Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014 Figure 20: Luxembourg Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019 Figure 21: Luxembourg Personal Accident and Health Insurance - Commission and Expenses (EUR Million), 2010-2014 Figure 22: Luxembourg Personal Accident and Health Insurance - Commission and Expenses (EUR Million), 2014-2019 Figure 23: Luxembourg Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014 Figure 24: Luxembourg Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019 Figure 25: Luxembourg Personal Accident and Health Insurance - Total Assets (EUR Million), 2010-2014 Figure 26: Luxembourg Personal Accident and Health Insurance - Total Assets (EUR Million), 2014-2019 Figure 27: Luxembourg Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014 Figure 28: Luxembourg Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019 Figure 29: Luxembourg Personal Accident and Health Insurance - Investment Portfolio (EUR Million), 2010-2014 Figure 30: Luxembourg Personal Accident and Health Insurance - Investment Portfolio (% Share), 2010 and 2014 Figure 31: Luxembourg Personal Accident and Health Insurance - Penetration (%), 2010-2014 Figure 32: Luxembourg Personal Accident and Health Insurance - Direct Premium per Capita (EUR), 2010-2014 Figure 33: Luxembourg Personal Accident Insurance - Direct Written Premium (EUR Million), 2010-2014 Figure 34: Luxembourg Personal Accident Insurance - Direct Written Premium (EUR Million), 2014-2019 Figure 35: Luxembourg Personal Accident Insurance - Loss Ratio (%), 2010-2014 Figure 36: Luxembourg Personal Accident Insurance - Loss Ratio (%), 2014-2019 Figure 37: Luxembourg Travel Insurance - Direct Written Premium (EUR Million), 2010-2014 Figure 38: Luxembourg Travel Insurance - Direct Written Premium (EUR Million), 2014-2019 Figure 39: Luxembourg Travel Insurance - Loss Ratio (%), 2010-2014 Figure 40: Luxembourg Travel Insurance - Loss Ratio (%), 2014-2019 Figure 41: Luxembourg Health Insurance - Gross Written Premium (EUR Million), 2010-2014 Figure 42: Luxembourg Health Insurance - Gross Written Premium (EUR Million), 2014-2019 Figure 43: Luxembourg Health Insurance - Direct Written Premium (EUR Million), 2010-2014 Figure 44: Luxembourg Health Insurance - Direct Written Premium (EUR Million), 2014-2019 Figure 45: Luxembourg Health Insurance - Paid Claims (EUR Million), 2010-2014 Figure 46: Luxembourg Health Insurance - Paid Claims (EUR Million), 2014-2019 Figure 47: Luxembourg Health Insurance - Loss Ratio (%), 2010-2014 Figure 48: Luxembourg Health Insurance - Loss Ratio (%), 2014-2019 Figure 49: Luxembourg Health Insurance - Net Written Premium (EUR Million), 2010-2014 Figure 50: Luxembourg Health Insurance - Net Written Premium (EUR Million), 2014-2019 Figure 51: Luxembourg Personal Accident and Health Insurance - Segment Shares (%), 2014 Figure 52: Luxembourg - The Three Pillars of Solvency II Figure 53: Luxembourg - Insurance Supervision and Control at Various Levels Figure 54: Luxembourg - Insurance Regulatory Frameworks for Company Registration and Operation

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