Non-Life Insurance in Israel, Key Trends and Opportunities to 2019

Published: May, 2016 | Pages: 106 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric’s 'Non-Life Insurance in Israel, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Israeli non-life insurance segment, and a comparison of the Israeli insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Israeli economy and demographics, explains the various types of natural hazard and their impact on the Israeli insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in Israel, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Israeli non-life insurance segment, including:

- The Israeli non-life insurance segment’s detailed outlook by product category
- A comprehensive overview of the Israeli economy and demographics
- A comparison of the Israeli insurance industry with its regional counterparts
- The various distribution channels in the Israeli non-life insurance segment
- Detailed analysis of natural hazards and their impact on the Israeli insurance industry
- Details of the competitive landscape in the non-life insurance segment in Israel
- Details of regulatory policy applicable to the Israeli insurance industry

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Israel:

- It provides historical values for the Israeli non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
- It offers a detailed analysis of the key categories in the Israeli non-life insurance segment, and market forecasts to 2019.
- It profiles the top non-life insurance companies in Israel, and outlines the key regulations affecting them.

Reasons To Buy

- Make strategic business decisions using in-depth historic and forecast market data related to the Israeli non-life insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Israeli non-life insurance segment.
- Assess the competitive dynamics in the non-life insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Israeli insurance industry, and their impact on companies and the industry's future.

Key Highlights

- Israel’s non-life segment accounted for 32.6% of its insurance industry’s gross written premium in 2014.
- The property insurance category’s gross written premium posted a review-period CAGR of 3.6%, and accounted for 25.8% of the segment’s gross written premium in 2014.
- Motor insurance was the largest category in the non-life segment, accounting for 59.2% of its gross written premium in 2014.
- The Israeli non-life segment is highly concentrated, with the 10 leading companies accounting for 90.2% of the segment’s gross written premium in 2014.
- Authorized agencies played a key role in the expansion of the Israeli non-life segment in 2014.
- The Israeli insurance industry is governed by the CMISD of the Ministry of Finance (MOF).

 Table of Content

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability

5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability

6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Direct marketing
6.1.3 E-commerce
6.1.4 Bancassurance

7 Natural Hazards
7.1 Extreme Temperature
7.2 Droughts
7.3 Storms
7.4 Earthquakes
7.5 Floods
7.6 Wildfires
7.7 Exposure

8 Competitive Landscape
8.1 Company Rankings
8.2 Company Profiles
8.2.1 Harel Insurance Company Ltd
8.2.2 Clal Insurance Enterprises Holdings Ltd - company overview
8.2.3 The Phoenix Insurance Company Ltd - company overview
8.2.4 Menora Mivtachim Insurance Ltd - company overview
8.2.5 Migdal Insurance Company Ltd - company overview

9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Workers’ compensation insurance
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Capital Markets, Insurance and Savings Division
9.5.3 Israel Insurance Association (RA)
9.5.4 The Association of Life Insurance Companies of Israel Ltd
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)

10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Property Insurance
10.4 Property Insurance by Product
10.5 Motor Insurance
10.6 Motor Insurance by Product
10.7 Liability Insurance
10.8 Marine, Aviation and Transit Insurance

11 Definitions and Methodology
11.1 Definitions
11.2 Methodology

12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric’s Services
12.4 Disclaimer

List of Tables

Table 1: Israeli Non-Life Insurance - Key Facts, 2014
Table 2: Israeli Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2014
Table 3: Israeli Government Credit Ratings, 2014
Table 4: Israeli Non-Life Insurance - Gross Written Premium (ILS Billion and US$ Billion), 2010-2014
Table 5: Israeli Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Israeli Non-Life Insurance - Gross Written Premium (ILS Billion and US$ Billion), 2014-2019
Table 7: Israeli Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Israeli Non-Life Insurance - Premium per Capita (ILS and US$), 2010-2014
Table 9: Israeli Non-Life Insurance - Premium per Capita (ILS and US$), 2014-2019
Table 10: Israeli Non-Life Insurance - Paid Claims (ILS Billion and US$ Billion), 2010-2014
Table 11: Israeli Non-Life Insurance - Paid Claims (ILS Billion and US$ Billion), 2014-2019
Table 12: Israeli Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Israeli Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Israeli Non-Life Insurance - Gross Written Premium by Category (ILS Billion), 2010-2014
Table 15: Israeli Non-Life Insurance - Gross Written Premium by Category (ILS Billion), 2014-2019
Table 16: Israeli Property Insurance - Gross Written Premium by Sub-Category (ILS Million), 2010-2014
Table 17: Israeli Property Insurance - Gross Written Premium by Sub-Category (ILS Million), 2014-2019
Table 18: Israeli Property Insurance - Paid Claims (ILS Million and US$ Million), 2010-2014
Table 19: Israeli Property Insurance - Paid Claims (ILS Million and US$ Million), 2014-2019
Table 20: Israeli Property Insurance - Loss Ratio (%), 2010-2014
Table 21: Israeli Property Insurance - Loss Ratio (%), 2014-2019
Table 22: Israeli Motor Hull Insurance - Leading Insurers by Market Share (%), 2014
Table 23: Israeli Motor Third-Party Liability Insurance - Leading Insurers by Market Share (%), 2014
Table 24: Israeli Motor Insurance - Gross Written Premium by Sub-Category (ILS Billion), 2010-2014
Table 25: Israeli Motor Insurance - Gross Written Premium by Sub-Category (ILS Billion), 2014-2019
Table 26: Israeli Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 27: Israeli Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 28: Israeli Motor Insurance - Paid Claims (ILS Billion and US$ Million), 2010-2014
Table 29: Israeli Motor Insurance - Paid Claims (ILS Billion and US$ Million), 2014-2019
Table 30: Israeli Motor Insurance - Loss Ratio (%), 2010-2014
Table 31: Israeli Motor Insurance - Loss Ratio (%), 2014-2019
Table 32: Israeli Liability Insurance - Gross Written Premium by Sub-Category (ILS Million), 2010-2014
Table 33: Israeli Liability Insurance - Gross Written Premium by Sub-Category (ILS Million), 2014-2019
Table 34: Israeli Liability Insurance - Paid Claims (ILS Billion and US$ Million), 2010-2014
Table 35: Israeli Liability Insurance - Paid Claims (ILS Billion and US$ Million), 2014-2019
Table 36: Israeli Liability Insurance - Loss Ratio (%), 2010-2014
Table 37: Israeli Liability Insurance - Loss Ratio (%), 2014-2019
Table 38: Israeli Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (ILS Million), 2010-2014
Table 39: Israeli Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (ILS Million), 2014-2019
Table 40: Israeli Marine, Aviation and Transit Insurance - Paid Claims (ILS Billion and US$ Billion), 2010-2014
Table 41: Israeli Marine, Aviation and Transit Insurance - Paid Claims (ILS Billion and US$ Billion), 2014-2019
Table 42: Israeli Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 43: Israeli Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 44: Israeli Distribution Channels - Number of Licensed Agents/Agencies of Insurers, 2014
Table 45: Israeli Non-Life Insurance - Shares of Leading Insurers (%), 2014
Table 46: Harel Insurance Company Ltd - Key Facts
Table 47: Harel Insurance Company Ltd - Key Financials (ILS Billion), 2009-2013
Table 48: Clal Insurance Enterprises Holdings Ltd - Key Facts
Table 49: Clal Insurance Enterprises Holdings Ltd - Key Financials (ILS Billion), 2009-2013
Table 50: The Phoenix Insurance Company Ltd - Key Facts
Table 51: The Phoenix Insurance Company Ltd - Key Financials (ILS Billion), 2009-2013
Table 52: Menora Mivtachim Insurance Ltd - Key Facts
Table 53: Menora Mivtachim Insurance Ltd - Key Financials (ILS Billion), 2009-2013
Table 54: Migdal Insurance Company Ltd - Key Facts
Table 55: Migdal Insurance Company Ltd - Key Financials (ILS Billion), 2009-2013
Table 56: Israel - Insurance Regulatory Framework Key Features
Table 57: Israel - Life Insurance Regulatory Framework
Table 58: Israel - Property Insurance Regulatory Framework
Table 59: Israel - Motor Insurance Regulatory Framework
Table 60: Israel - Liability Insurance Regulatory Framework
Table 61: Israel - Corporate Tax Rates for the Financial Year 2015
Table 62: Israeli Insurance Industry - Policies and Premium, 2010-2014
Table 63: Israeli Insurance Industry - Policies and Premium, 2014-2019
Table 64: Israeli Non-Life Insurance - Claims and Expenses, 2010-2014
Table 65: Israeli Non-Life Insurance - Claims and Expenses, 2014-2019
Table 66: Israeli Non-Life Insurance - Property Insurance, 2010-2014
Table 67: Israeli Non-Life Insurance - Property Insurance, 2014-2019
Table 68: Israeli Non-Life Insurance - Property Insurance by Product, 2010-2014
Table 69: Israeli Non-Life Insurance - Property Insurance by Product, 2014-2019
Table 70: Israeli Non-Life Insurance - Motor Insurance, 2010-2014
Table 71: Israeli Non-Life Insurance - Motor Insurance, 2014-2019
Table 72: Israeli Non-Life Insurance - Motor Insurance by Product, 2010-2014
Table 73: Israeli Non-Life Insurance - Motor Insurance by Product, 2014-2019
Table 74: Israeli Non-Life Insurance - Liability Insurance, 2010-2014
Table 75: Israeli Non-Life Insurance - Liability Insurance, 2014-2019
Table 76: Israeli Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
Table 77: Israeli Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
Table 78: Insurance Industry Definitions