The report provides in-depth market analysis, information and insights into the Belgian life insurance segment, including:
• The Belgian life insurance segment’s growth prospects by life insurance category
• Key trends and drivers for the life insurance segment
• The various distribution channels in the Belgian life insurance segment
• The detailed competitive landscape in the life insurance segment in Belgium
• Detailed regulatory policies of the Belgian insurance industry
• Analysis of various consumer segments in Belgian life insurance
• Key developments in the Belgian life insurance segment
• New products launched by Belgian life insurers
Executive Summary :
The Belgian life segment accounted for the largest proportion of gross written premium in the country’s insurance industry, with a share of 65.3% in 2013, after registering a CAGR of 3.6% during the review period (2009-2013). The slow growth was attributed to the sovereign debt crisis, which led to a rise in unemployment and a reduction in wages. It was further discouraged by political instability and a credit rating downgrade by Standard & Poor’s and Moody’s.
Life insurance products linked to the stock market - such as unit-linked and pension insurance products - registered growth during the review period. These categories declined sharply in 2008 and 2009 due to the economic crisis, but recovered in 2010 and 2012, which attracted consumers to individual unit-linked products, increasing their demand.
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High life expectancy supported the life segment and sustained its growth during the review period. This is also anticipated to benefit the segment over the forecast period, specifically endowment, term, pension and retirement products.
This report provides a comprehensive analysis of the life insurance segment in Belgium:
• It provides...