Personal Accident and Health Insurance in Belgium, Key Trends and Opportunities to 2017


#182139

231pages

Timetric

$ 1950

In Stock


Synopsis

The report provides in depth market analysis, information and insights into the Belgian personal accident and health insurance segment, including:

  • The Belgian personal accident and health insurance segment’s growth prospects by insurance categories
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in the Belgian personal accident and health insurance segment
  • A detailed overview of the competitive landscape in the personal accident and health insurance segment in Belgium
  • A detailed overview of the regulatory framework of the Belgian insurance industry
  • A description of the personal accident and health reinsurance segment in Belgium
  • Porter's Five Forces Analysis of the personal accident and health insurance segment
  • Benchmarking section on the Belgian personal accident and health insurance segment in comparison to other markets with gross written premiums of between US$10 billion and US$40 billion

Executive summary

In gross written premium terms, the Belgian personal accident and health insurance segment accounted for 9.7% of the country’s total insurance industry in 2012, with a value of EUR3.1 billion (US$3.9 billion) after recording a CAGR of 2.1% during the review period (2008–2012). This growth was primarily due to an increase in medical expenditure and Belgian outbound tourism. The expansion of the segment was also supported by positive demographic factors such as increased life expectancy and the country’s large urban population. In addition, an increase in the government’s private and public healthcare expenditure also fuelled segment growth. However, this was hindered to an extent by weak economic growth and the impact of the eurozone sovereign debt crisis.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Belgium:

  • It provides historical values for Belgium's personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key categories in Belgium's personal accident and health insurance segment, along with market forecasts until 2017
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for personal accident and health insurance products in Belgium
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Belgium for the personal accident and health insurance segment
  • It provides a detailed analysis of the reinsurance segment in Belgium and its growth prospects
  • It profiles the top personal accident and health 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 personal accident and health insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Belgian personal accident and health insurance segment
  • Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Belgian insurance segment and its impact on companies and the market's future

Key highlights

  • Belgium’s personal health and accident insurance segment recorded a review-period CAGR of 2.1% despite several domestic and international setbacks. Chief among these was the financial crisis that resulted from the collapse of Lehman brothers in 2009 and a subsequent increase in national debt, events which impaired Belgium’s industrial development during the review period
  • Increase in outbound tourism driving growth for travel insurance category
  • Personal accident and health insurance policies are primarily distributed through insurance brokers, with the brokers channel accounting for a 61.0% share of the segment’s total gross written premiums in 2012
  • The Belgian insurance industry is regulated and supervised by the National Bank of Belgium (NBB) and the Financial Services and Markets Authority (FSMA)
  • A number of multinational insurers, such as AXA, Ergo and Allianz, have significant operations in Belgium and multinationals collectively dominate the country’s personal accident and health insurance segment
  • The written premium of Belgian health insurance is expected to reach PKR3.6 billion (US$39.2 million) in 2017, after registering a forecast-period CAGR of 19.4%