Israel Insurance Report - Business Monitor International - Industry Reports

Israel Insurance Report

Israel Insurance Report - Business Monitor International - Industry Reports
Israel Insurance Report
Published Oct 01, 2016
47 pages — Published Oct 01, 2016
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� Business Monitor International Ltd Page - number of people who are aged -- or over is expected to rise from about ---,--- now to over ---,--- by the end of the forecast period. There will be a correspondingly large increase in the number of people who are approaching retirement in their mid---s. ...Many of the households whose earnings are slightly below this threshold can afford some products. The domination of the insurance sector by what are, essentially, large-scale composite insurers with close ties to bank and other distributors is in part the result of Israel s unusual geopolitical situation. In this respect, it is similar to two other important markets that are surveyed by BMI - Taiwan and South Africa. Taiwan differs from the other two in that it has typically run a current account surplus - meaning that the country as a whole has substantial excess savings. South Africa differs from the other two in that only a minority of households have substantial excess savings: many households are just beginning to use insurance products for the first time, thanks significantly to the initiatives of the insurers themselves.

...Life penetration has remained broadly steady over recent years at around -.- of GDP. We assess this as indicating that life insurance plays an important role as a conduit of organised savings in Israel, involving savings, protection and pension products. We forecast life premiums to rise by -.- in ---- to ILS--.-bn. The growth will be driven in part by the development and distribution of attractive products by the life insurers and in part by customers recognition of the attractions of life insurance relative to other conduits for organised savings (such as bank deposits, real estate or the stock exchange). For now, we anticipate that premiums will continue to grow by around - annually through the forecast period to reach ILS--.-bn in ----. ...Crucially, the overall population is ageing quite quickly.

...Transparency in the market is gradually improving. In September ---- the Finance Ministry announced plans to create a database of all insurance policies which consumers can access to ensure they do not subscribe to multiple policies covering the same risk. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Israel Insurance Report" Oct 01, 2016. Alacra Store. Oct 23, 2016. <>
Business Monitor International - Industry Reports. (2016). Israel Insurance Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Oct 23, 2016 from <>
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