Growth in life insurance underwriting will remain consistent over the duration of our --------- forecast period. The well-developed distribution and marketing strategies of life insurers will ensure they are the main beneficiaries of a steady expansion in household spending, with a concomitant uptick in discretionary spending levels encouraging saving and the purchase of non essentials such as some additional life insurance policies. ...Growth in life insurance underwriting will remain consistent over the duration of our --------- forecast period. The well-developed distribution and marketing strategies of life insurers will ensure they are the main beneficiaries of a steady expansion in household spending, with a concomitant uptick in discretionary spending levels encouraging saving and the purchase of non essentials such as some additional life insurance policies. We forecast gross life premiums to grow from SEK---.-bn in ---- to SEK---.-bn in ----. ...In addition, the population is expected to age, with the percentage over -- forecast to grow. We note that the government has responded in recent years to the pressures the ageing population will place on the healthcare system by introducing several forms of preventative healthcare for the elderly - including the prescription of exercise and specific types of physical activity in addition to medicines - which will be
...Already boasting a well-developed and robust regulatory system, Sweden continues to make improvements, including recently enhancing the Deposit Insurance Act to strengthen the protection in place for savers in the country. The changes to the Act come into effect from July - ----. Life insurance is already well established as a conduit for organised savings in Sweden and rates of coverage are high. We expect to see continued growth in the life segment over the course of our forecast period through to ----, supported by a high level of affordability among the vast majority of households, meaning premiums will rise by an annual average of -.- . We are currently forecasting slower growth in the smaller non-life segment, where the maturity of the market and intense competition places downwards pressure on pricing. ...We are currently forecasting slower growth in the smaller non-life segment, where the maturity of the market and intense competition places downwards pressure on pricing. Annual growth is expected to average -.- between ---- and ---- meaning non-life will lose some share of the market against the larger life sector.
...This will result in greater life expectancy, which will rise from the already high --.- years, which we forecast for ----, to --.- years by ----. This greater life span and increasingly elderly population should help boost demand for life insurance as well as later in life and retirement savings products. Alongside the ageing population, a crucial indicator for the Swedish life insurance market is the large numbers of households that can afford life insurance, with the vast majority of households already falling into the two highest household income brackets (USD--,--- to USD--,--- and USD--,--- plus). The growing incomes and savings of those households and the development of products that are attractive and appropriate to these households needs will help sustain growth in an already mature market. ...
