Belgium Insurance Market Intelligence -- New Report by Koncept Analytics

April 29, 2010 - PRLog -- The financial system of Belgium is dominated by four large bancassurance conglomerates, which contribute nearly half of the total insurance premiums. Growing economy and the resultant increase in income, consumer spending and increased awareness of savings and better returns have supported the growth of the insurance industry in Belgium. Moreover, government policies, such as tax exemption, strengthening bancassurance channels, have  
also driven the increase in premium income in the past few years.

Insurance industry in Belgium is categorized into life and non-life segments. Annual premium witnessed a decrease in local currency from 2007 to 2008, on account of liquidity crisis as well as decline in life insurance premiums. The life insurance products suffered from intense competition from other products, like bank deposits that offered attractive rates. This shifted the consumer’s preferences from life insurance policies to other products and led to a decline in premiums in 2008. The life insurance segment has always dominated the market, due to certain benefits attached with the products, like tax exemption, better returns, as well as savings. On the other hand, the non-life segment has recorded a steady growth, mainly on account of the demand for motor, accident and health segments. The Belgian insurance market is consolidated in structure, wherein in both the life and non-life segments, the top five players account for majority of the market share. Expanding economy, growing individual life insurance premiums, rising automobile insurance premiums and rising health insurance premiums are some of the major factors that will drive Belgium’s insurance sector in future.

The report broadly includes the following

1. Industry Snapshot

1.1 Industry Structure
1.2 Market Overview

1.2.1 Market Size & Growth
1.2.2 Market Segments
1.2.3 Market Density & Penetration
1.2.4 Market Share

2. Industry Analysis

2.1 Industry Developments
2.2 Market Drivers

3. Country Analysis: Risk Assessment

4. Industry Outlook: Forecast and Projections

List of Tables

Key Macroeconomic Indicators: (2008 – 2011F)

List of Charts

Annual Premium – Belgium Insurance Industry (2001-2008)
Insurance Premium Share (%) by Segment (2008)
Insurance Premium by Segment (2001-2008)
Life Insurance Premium Share (%) by Segment (2008)
Non-Life Insurance Premium Share (%) by Segment (2008)
Belgium Insurance Density (US$) (2001 – 2008)
Belgium Insurance Penetration (2001 – 2008)
Belgium: Major Non-Life Insurer’s Market Share (2008)
Belgium: Major Life Insurer’s Market Share (2008)
GDP Growth of Belgium (2002 – 2008)
Belgium: Individual Life Insurance Premiums (2001 - 2008)
Belgium Automobile Insurance Premiums (2001 – 2008)
Belgium Health Insurance Premiums (2001 – 2008)
Forecast: Belgium Insurance Industry (2008A – 2012F)
Forecast: Belgium Life & Non-Life Insurance Industry (2008A – 2012F

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Koncept Analytics, founded in 2005, works with the clients in developing an understanding of the various industries – segments and sub-segments, companies, competitors and suppliers.