Aarkstore Enterprise Belgium Insurance Market Intelligence 2011 Edition Market Aggregator

 

Aarkstore.com announces, a new market research report is available in its vast collection:

Belgium Insurance Market Intelligence: 2011 Edition

http://www.aarkstore.com/reports/Belgium-Insurance-Market-Intelligence-2011-Edition-40701.html

Belgium is the ninth largest insurance market in Europe as of the year end 2009 and is dominated by bancassurance conglomerates. Insurance industry in Belgium is categorized into life and non-life segments. Both these segments experienced a high single-digit decline in 2009. In the life market, unstable stock markets led to a decline in sales of unit-linked products. Non-life premiums have generally been little affected by the economic downturn except for a small number of lines of business, such as credit and surety insurance that have strong links to economic activity.

The overall Belgian insurance industry is mainly dominated by AG Insurance Group which controlled about one-fourth of the premium market in 2009. The top five non-life insurers accounted for more than half of market share in terms of gross premiums in 2009 with AXA being the market leader. Major life insurers include Ethias, DIB, ING Life, Delta Llyod and Allianz. 

Besides the twin challenges of political instability and a growing national debt, economic recovery, which started in Q309, is expected to continue at a moderate pace with rise in new employment opportunities and domestic demand. The Government of Belgium has also implemented various restructuring plans to establish stability in bancassurance groups like Fortis, Dexia and KBC in H109 to stabilize market confidence of banking and insurance companies in the financial system. Further, expected positive growth in economy, growing individual life insurance premiums, rising automobile insurance premiums and rising health insurance premiums are major factors that will be driving Belgium’s insurance sector in future.

Table of Contents :

1. Industry Snapshot

1.1 Industry Structure
1.1.1 Supervised by an independent commission - National bank of Belgium
1.1.2 Bancassurance Dominating the Insurance Sales Channels
1.1.3 Compulsory insurance classes include are third party motor liability, worker’s compensation etc
1.1.4 Car insurance has a system of no-claims bonuses known as the Bonus-Malus system

1.2 Market Overview

1.2.1 Market Size & Growth
1.2.1.1 Decline in overall insurance premiums due to aftereffects of financial crisis
1.2.1.2 Shifting preference towards policies offering guaranteed rate of return
1.2.1.3 Belgian insurance companies posted profits and improved solvency ratio

1.2.2 Market Segments
1.2.2.1 Falling demand in unit linked savings products impacted life insurance premiums
1.2.2.2 Combined ratio close to 100% in 2009
1.2.2.3 Decline new car sales and registrations slowed down motor insurance premiums

1.2.3 Market Density & Penetration
1.2.3.1 Decline in both insurance density and penetration in 2009

1.2.4 Market Share
1.2.4.1 Consolidated Structure with 5 Major Players Dominating the Market
1.2.4.2 Life Insurance Market Dominated by AG and in non-life, AXA is the Biggest Player

2. Industry Analysis

2.1 Industry Developments
EU Cleared Belgian Export Credit Insurance Aid Plan
Ageas Sold Ukrainian Life Business
Baloise Group acquired Avéro Schadeverzekering Benelux N.V
KBC Group Sold its Reinsurance Subsidiary Secura NV
Cigna Acquired Belgium's Vanbreda International

2.2 Market Drivers
Resilient Economy
Rising Household Expenditure
Rising Expenditure on Health
Motor Market

For More Related Reports Please follow the link :

http://www.aarkstore.com/search/viewresults.asp?search=Insurance Market&PubId=&pagenum=1

http://www.aarkstore.com/market-sector-reports/showgroupreports.asp?GroupId=12&pagenum=1

From: Aarkstore Enterprise

Contact: Vina

Mob.No.918149852585

Email: enquiry@aarkstore.com

URL: http://www.aarkstore.com/

 Article Source: http://www.informationbible.com/article-aarkstore-enterprise-belgium-insurance-market-intelligence-2011-edition-market-aggregator-96587.html

 Article Tags: belgium, insurance, market, intelligence, 2011, edition, ethias, dib, ing, life, delta, llyod, allianz, challenges, political, instability, fortis, dexia, kbc

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