Luxembourg Insurance Report - Business Monitor International - Industry Reports

Luxembourg Insurance Report

Luxembourg Insurance Report - Business Monitor International - Industry Reports
Luxembourg Insurance Report
Published Jul 09, 2016
54 pages — Published Jul 09, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

With a well-respected regulatory environment, political stability and a strong labour force, Luxembourg is one of the key centres for international insurance in Europe. This is further reflected by Luxembourg s high penetration rate (ie, premiums as a percentage of GDP) and density (ie, premiums per capita) in the life insurance sector. ...This is further reflected by Luxembourg s high penetration rate (ie, premiums as a percentage of GDP) and density (ie, premiums per capita) in the life insurance sector. The lion s share of direct insurance premiums, however, pertains to risks and lives that are outside of the Grand Duchy - some -- in the case of life insurance, which has certain implications for the growth prospects of total premiums as this will depend on the fortunes of the international life insurance companies. Likewise, almost all of the sizeable reinsurance that is booked in Luxembourg covers business written elsewhere. ...Another key driver concerns the rising trend across Europe for insurers to evolve into lenders, supplanting banks in this role in many areas, emulating developments seen in the US insurance market. Accordingly, we anticipate that the toehold which insurers gained in this market following the reduction in the banking

...Additional interest is spurred by the heavy regulations and unusually strong policy holder protection that Luxembourg insurers offer, due to the segregation of company deposits from policyholder funds, which protects them from the potential collapse of the insurer. ...Additional interest is spurred by the heavy regulations and unusually strong policy holder protection that Luxembourg insurers offer, due to the segregation of company deposits from policyholder funds, which protects them from the potential collapse of the insurer. This will serve to support continued growth in the life sector over the longer term, in our view, beyond ----. ...The very high average income levels in Luxembourg also support growth in the life sector. The majority of households fall into the two highest income brackets (USD--,--- to USD--,--- and USD--,--- plus) indicating that affordability is not an issue in this market, though as noted above, much of the demand for life insurance in Luxembourg comes from cross-border markets.

...The overall strength of the Luxembourg life sector, its strong relations with the banking sector and its position as a regional hub for insurers, will drive steady growth over the medium term through to ----. Key growth sectors are the increasing number of pension insurance contracts and the continued uptick in cross- border life insurance policies, under the EU s freedom of services, as the country s geographic location makes it an ideal site for global companies to base themselves in. ...The overall strength of the Luxembourg life sector, its strong relations with the banking sector and its position as a regional hub for insurers, will drive steady growth over the medium term through to ----. Key growth sectors are the increasing number of pension insurance contracts and the continued uptick in cross- border life insurance policies, under the EU s freedom of services, as the country s geographic location makes it an ideal site for global companies to base themselves in. As a number of European governments look to crack down on tax evasion and avoidance, we expect to see an increasing interest in perceived safe havens, such as the Luxembourg single premium bonds market, a view factored into our positive outlook for the wider life segment s growth potential over the next few years. ...

  
Source:
Document ID
2055-4168
Country
Industry
Format:
PDF Adobe Acrobat
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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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MLA:
Business Monitor International - Industry Reports. "Luxembourg Insurance Report" Jul 09, 2016. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Luxembourg-Insurance-Report-2026-1562>
  
APA:
Business Monitor International - Industry Reports. (2016). Luxembourg Insurance Report Jul 09, 2016. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Luxembourg-Insurance-Report-2026-1562>
  
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