The latest figures from the trade association indicate that a collapse in demand for index-linked products has curtailed overall premiums. Demand for traditional insurance products in H--- was around --- higher than in the previous corresponding period. Over the coming year or so, demand for index-linked products should find a floor; thereafter, overall life insurance premiums will likely track sideways through to the end of the forecast period in ----. In the short term, affordability will be hampered by a fall in average household income levels, with the number of households in the higher income brackets (USD--,--- to USD--,--- and USD--,--- plus) expected to fall in ----, while the number of households in the lower income brackets (USD-,--- to USD--,--- and USD-,--- to USD-,---) expands. Over the remainder of the forecast period we do expect this trend to gradually reverse as employment rates improve and income levels recover, which does indicate that more households will be able to afford life products by ----. ...In the short term, affordability will be hampered by a fall in average household income levels, with the number of households in the higher income brackets (USD--,--- to USD--,--- and USD--,--- plus) expected to fall in ----, while the number of households in the lower income brackets (USD-,--- to USD--,--- and USD-,--- to USD-,---) expands. Over the remainder of the forecast period we do expect this trend to gradually reverse as employment rates improve and income levels recover, which does indicate that more households will be able to afford life products by ----.
...The various sub-sectors of the non-life segment performed in a mixed fashion through H---, according to data published by the trade association. We look for overall non-life premiums to rise by --- annually through the forecast period to ----. ...The main catalyst for growth will likely be higher volumes in the important motor vehicle insurance sub-sector. Reports from the trade association highlight how demand for index-linked life insurance products has collapsed in H---. Premiums from traditional insurance products have been rising at mid-single digit rates. ...Premiums from traditional insurance products have been rising at mid-single digit rates. Looking forward, we expect that overall life premiums will broadly track sideways through the forecast period to ----.
...Life claims and payments have risen far more consistently in the past than non-life claims. Double-digit growth was the norm in life claims and payments prior to the crisis. ...
