2012-09-14 14:57:50 - Fast Market Research recommends "Personal Accident and Health Insurance in Belgium, Key Trends and Opportunities to 2016" from Timetric, now available
In terms of gross written premium, the Belgian personal accident and health insurance segment recorded a positive growth rate during the review period. This growth was primarily due to increases in overall 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. Despite Belgium's strong statutory healthcare scheme and difficult business conditions, the country's personal accident and health segment is expected to continue to grow positively over the forecast period.
* The number of outbound tourists from Belgium increased from 8.4 million in 2007 to 10.5 million in 2011, and is expected to reach 12.7 million by 2016. This significant
increase in outbound tourism was the key growth driver of the travel insurance category during the review period.
* In Belgium, all public, private and self-employed individuals are protected under a public social security system, under which health insurance is included. Under this system, public and private employees contribute some proportion of their incomes to a public welfare health insurance fund named mutuelle/mutualite or ziekenfonds/mutualiteit in order to access the country's public healthcare facilities.
* The Belgian government encourages foreign investment through incentives such as a lower corporate tax structure, national interest deductions, patent income relief, and VAT grouping. In addition, the country's policy makers offer a variety of fiscal measures designed to facilitate investment.
* In addition, the Belgian insurance industry's high exposure to government bonds could cause losses for insurance companies over the forecast period, while the increasing losses from frauds and crimes may negatively impact bottom lines and reduce investor confidence.
* During the review period, Belgium's unfavorable business and economic conditions forced the country's personal accident and health insurance companies to increase their use of channels with lower marketing and administrative costs.
* 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. Moreover, the Belgian government's encouragement of FDI, through liberal regulations, tax reductions, and other fiscal measures, is expected to attract new businesses over the forecast period.
Full Report Details at
- www.fastmr.com/prod/462045_personal_accident_and_health_insuranc ..
This report provides a comprehensive analysis of the personal accident and health insurance market in Belgium:
* It provides historical values for the Belgian personal accident and health insurance market for the review period (2007-2011) and forecast period (2012-2016)
* It offers a detailed analysis of the key sub-segments in the Belgian personal accident and health insurance market, along with market forecasts until 2016
* 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 Belgian for the personal accident and health insurance business
* It provides a detailed analysis of the reinsurance market 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 Purchase
* Make strategic business decisions using in depth historic and forecast market data related to the Belgian personal accident and health insurance market and each sector within it
* Understand the demand-side dynamics, key market trends and growth opportunities within the Belgian personal accident and health insurance market
* Assess the competitive dynamics in the personal accident and health insurance market, 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 market and its impact on companies and the market's future
Companies Mentioned in this Report: AXA Belgium, Ethias, AG Insurance, KBC Assurances Belgium, Dexia Insurance Belgium SA, ING Life Belgium, Allianz Belgium
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
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