Personal Accident and Health Insurance in Norway, Key Trends and Opportunities to 2017

Published: Feb, 2014 | Pages: 223 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into the Norwegian personal accident and health insurance segment, including:
The Norwegian personal accident and health insurance segment's growth prospects by insurance categories 
Key trends and drivers for the personal accident and health insurance segment 
The various distribution channels in the Norwegian personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Norway
Detailed regulatory framework of the Norwegian insurance industry
A description of the personal accident and health reinsurance segment in Norway
Porter's Five Forces analysis of the personal accident and health insurance segment
A benchmarking section on the Norwegian life insurance segment in comparison with other countries in the Nordic Region 

Summary
The Norwegian personal accident and health insurance segment recorded a compound annual growth rate (CAGR) of 9.0% during the review period (2008-2012), the fastest growth of all the segments in the Norwegian insurance industry. The growth was a result of strong growth in the health insurance category, which recorded a healthy CAGR of 19.4%. The growth was also supported by improved economic development and rising healthcare expenditure, factors that are also expected to support the segment over the forecast period (2012-2017). The written premium of the personal accident and health segment is expected to increase at a projected CAGR of 8.1%. 
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Norway:
It provides historical values for the Norwegian personal accident and health insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key sub-segments in Norwegian personal accident and health insurance segment, along with market forecasts until 2017.
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 Norway.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Norway for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in Norway and its growth prospects.
It profiles the top personal accident and health insurance companies in Norway and outlines the key regulations affecting them. 
Reason To Buy
 Make strategic business decisions using in depth historic and forecast market data related to the Norwegian personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Norwegian personal accident and health insurance segment
Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the Norwegian insurance industry and its impact on companies and the market's future 
Key Highlights
 The Norwegian personal accident and health insurance segment recorded a CAGR of 9.0% during the review period, the fastest growth of all the segments in the Norwegian insurance industry
Favorable demographic factors, such as increased life expectancy and a growing population aged 65 and above, are likely to accelerate demand for health insurance
Norway is the second-highest spender when it comes to health expenditure per capita, spending US$5,700 a year per person
Sales through agencies accounted for 36.6% of the total personal accident and health written premium
The segment is highly concentrated, with the 10 leading companies collectively accounting for 92.2% of the segment's written premiums in 2012

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Nordic Region Market Dymics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Persol Accident and Health Insurance Segment - Regiol Benchmarking
4.1 Overview
4.2 Scale and penetration
4.2.1 Total gross written premium
4.2.2 Premium per capita
4.2.3 Persol accident and health insurance penetration (% of GDP)
4.3 Growth
4.3.1 Gross written premium
4.3.2 Gross written premium per capita
4.4 Efficiency and risk
4.4.1 Loss ratio
4.4.2 Combined ratio
4.4.3 Incurred losses per capita
4.4.4 Incurred losses as a percentage of GDP
4.5 Distribution channels
4.5.1 Direct marketing
4.5.2 Bancassurance
4.5.3 Agencies
4.5.4 Brokers
4.5.5 Online channels
5 Norwegian Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
5.2.1 Business drivers
6 Persol Accident and Health Insurance Segment Outlook
6.1 Persol Accident and Health Insurance Growth Prospects by Category
6.1.1 Persol accident insurance
6.1.2 Travel insurance
6.1.3 Health insurance
7 Alysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers
7.6 Other Channels
8 Porter's Five Forces Alysis - Norwegian Persol Accident and Health Insurance
8.1 Bargaining Power of Suppliers: Low to Medium
8.2 Bargaining Power of Buyers: Medium
8.3 Barriers to Entry: Low to Medium
8.4 Intensity of Rivalry: Low
8.5 Threat of Substitutes: Medium
9 Reinsurance Growth Dymics and Challenges
9.1 Reinsurance Segment Size by Type of Insurance, 2008-2017
10 Governce, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation Trends by Type of Insurance
10.2.1 Life insurance regulatory trends
10.2.2 Property insurance regulatory trends
10.2.3 Motor insurance regulatory trends
10.2.4 Marine, aviation and transit insurance regulatory trends
10.2.5 Persol accident insurance regulatory trends
10.3 Compulsory Insurance
10.3.1 Workers' compensation insurance
10.3.2 Motor third party liability insurance
10.3.3 tural disaster insurance for property cover
10.4 Supervision and Control
10.4.1 Intertiol Association of Insurance Supervisors
10.4.2 European Insurance and Occupatiol Pensions Authority�(EIOPA)
10.4.3 The Fincial Supervisory Authority of Norway (FSA)
10.5 Non-Admitted Insurance Regulatory Trends
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and pelties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Investment regulations
10.6.8 Statutory return requirements
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Corporate tax
10.7.3 VAT
10.7.4 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Altertive dispute resolution (ADR)
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Norwegian Persol Accident and Health Insurance Segment
11.3 Gjensidige - Company Overview
11.3.1 Gjensidige Forsikring ASA - key facts
11.4 If Skadeforsikring - Company Overview
11.4.1 If Skadeforsikring - key facts
11.5 Sparebank 1 Forsikring - Company Overview
11.5.1 Sparebank 1 Forsikring - key facts
11.6 Storebrand - Company Overview
11.6.1 Storebrand - key facts
11.7 Tryg - Company Overview
11.7.1 Tryg - key facts
11.8 Codan - Company Overview
11.8.1 Codan - key facts
11.9 DNB - Company Overview
11.9.1 DNB Forsikring - key facts
11.1 Nordea - Company Overview
11.10.1 Nordea - key facts
11.11 AIG Europe - Company Overview
11.11.1 AIG Europe - key facts
11.12 Ace European Group - Company Overview
11.12.1 Ace European Group - key facts
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - Oslo BOrs, Norway
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 GDP by key segments
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
12.2.12 Construction net output at current prices, (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Annual average exchange rate US$-JPY
12.3 Infrastructure
12.3.1 Commercial vehicles exports - total value
12.3.2 Commercial vehicles imports - total value
12.3.3 Automotive exports - total value
12.3.4 Automotive imports - total value
12.3.5 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Gross tiol disposable income (US$)
12.5.2 Household consumption expenditure (US$)
12.5.3 Total population
12.5.4 Urban and rural populations
12.5.5 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Norwegian Insurance - Overall Written Premium by Segment (NOK Billion), 2008-2012
Table 3: Norwegian Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 4: Norwegian Insurance - Overall Written Premium by Segment (NOK Billion), 2012-2017
Table 5: Norwegian Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 6: Norwegian Insurance - Segmentation (Percentage Share), 2008-2017
Table 7: Norwegian Persol Accident and Health Insurance - Written Premium by Category (NOK Billion), 2008-2012
Table 8: Norwegian Persol Accident and Health Insurance - Written Premium by Category (US$ Billion), 2008-2012
Table 9: Norwegian Persol Accident and Health Insurance - Written Premium by Category (NOK Billion), 2012-2017
Table 10: Norwegian Persol Accident and Health Insurance - Written Premium by Category (US$ Billion), 2012-2017
Table 11: Norwegian Persol Accident and Health Insurance - Earned Premium (NOK Billion), 2008-2012
Table 12: Norwegian Persol Accident and Health Insurance - Earned Premium (NOK Billion), 2012-2017
Table 13: Norwegian Persol Accident and Health Insurance - Paid Claims by Category (NOK Billion), 2008-2012
Table 14: Norwegian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2008-2012
Table 15: Norwegian Persol Accident and Health Insurance - Paid Claims by Category (NOK Billion), 2012-2017
Table 16: Norwegian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2012-2017
Table 17: Norwegian Persol Accident and Health Insurance - Incurred Loss by Category (NOK Billion), 2008-2012
Table 18: Norwegian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2008-2012
Table 19: Norwegian Persol Accident and Health Insurance - Incurred Loss by Category (NOK Billion), 2012-2017
Table 20: Norwegian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2012-2017
Table 21: Norwegian Persol Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 22: Norwegian Persol Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 23: Norwegian Persol Accident and Health Insurance - Commissions and Expenses (NOK Billion), 2008-2012
Table 24: Norwegian Persol Accident and Health Insurance - Commissions and Expenses (NOK Billion), 2012-2017
Table 25: Norwegian Persol Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 26: Norwegian Persol Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 27: Norwegian Persol Accident and Health Insurance - Frauds and Crimes (NOK Billion), 2008-2012
Table 28: Norwegian Persol Accident and Health Insurance - Fraud and Crimes (NOK Billion), 2012-2017
Table 29: Norwegian Persol Accident and Health Insurance - Total Assets (NOK Billion), 2008-2012
Table 30: Norwegian Persol Accident and Health Insurance - Total Assets (NOK Billion), 2012-2017
Table 31: Norwegian Persol Accident and Health Insurance - Total Investment Income (NOK Billion), 2008-2012
Table 32: Norwegian Persol Accident and Health Insurance - Total Investment Income (NOK Billion), 2012-2017
Table 33: Norwegian Persol Accident and Health Insurance - Retentions (NOK Billion), 2008-2012
Table 34: Norwegian Persol Accident and Health Insurance - Retentions (NOK Billion), 2012-2017
Table 35: Norwegian Persol Accident Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 36: Norwegian Persol Accident Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 37: Norwegian Persol Accident Insurance - Written Premium (NOK Billion), 2008-2012
Table 38: Norwegian Persol Accident Insurance - Written Premium (NOK Billion), 2012-2017
Table 39: Norwegian Persol Accident Insurance - Loss Ratio (%), 2008-2012
Table 40: Norwegian Persol Accident Insurance - Loss Ratio (%), 2012-2017
Table 41: Norwegian Travel Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 42: Norwegian Travel Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 43: Norwegian Travel Insurance - Written Premium (NOK Billion), 2008-2012
Table 44: Norwegian Travel Insurance - Written Premium (NOK Billion), 2012-2017
Table 45: Norwegian Travel Insurance - Loss Ratio (%), 2008-2012
Table 46: Norwegian Travel Insurance - Loss Ratio (%), 2012-2017
Table 47: Norwegian Health Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 48: Norwegian Health Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 49: Norwegian Health Insurance - Written Premium (NOK Billion), 2008-2012
Table 50: Norwegian Health Insurance - Written Premium (NOK Billion), 2012-2017
Table 51: Norwegian Health Insurance - Loss Ratio (%), 2008-2012
Table 52: Norwegian Health Insurance - Loss Ratio (%), 2012-2017
Table 53: Norwegian Persol Accident and Health Insurance - Direct Marketing Commission Paid (NOK Million), 2008-2012
Table 54: Norwegian Persol Accident and Health Insurance - Direct Marketing Commission Paid (NOK Billion), 2012-2017
Table 55: Norwegian Persol Accident and Health Insurance - Written Premium Through Direct Marketing (NOK Billion), 2008-2012
Table 56: Norwegian Persol Accident and Health Insurance - Written Premium Through Direct Marketing (NOK Billion), 2012-2017
Table 57: Norwegian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 58: Norwegian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 59: Norwegian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 60: Norwegian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 61: Norwegian Persol Accident and Health Insurance - Bancassurance Commission Paid (NOK Billion), 2008-2012
Table 62: Norwegian Persol Accident and Health Insurance - Bancassurance Commission Paid (NOK Billion), 2012-2017
Table 63: Norwegian Persol Accident and Health Insurance - Written Premium Through Bancassurance (NOK Billion), 2008-2012
Table 64: Norwegian Persol Accident and Health Insurance - Written Premium Through Bancassurance (NOK Billion), 2012-2017
Table 65: Norwegian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 66: Norwegian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 67: Norwegian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2008-2012
Table 68: Norwegian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2012-2017
Table 69: Norwegian Persol Accident and Health Insurance - Commission Paid to Agencies (NOK Billion), 2008-2012
Table 70: Norwegian Persol Accident and Health Insurance - Commission Paid to Agencies (NOK Billion), 2012-2017
Table 71: Norwegian Persol Accident and Health Insurance - Written Premium Through Agencies (NOK Billion), 2008-2012
Table 72: Norwegian Persol Accident and Health Insurance - Written Premium Through Agencies (NOK Billion), 2012-2017
Table 73: Norwegian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2008-2012
Table 74: Norwegian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2012-2017
Table 75: Norwegian Persol Accident and Health Insurance - Number of Agencies, 2008-2012
Table 76: Norwegian Persol Accident and Health Insurance - Number of Agencies, 2012-2017
Table 77: Norwegian Persol Accident and Health Insurance - E-Commerce Commission Paid (NOK Billion), 2008-2012
Table 78: Norwegian Persol Accident and Health Insurance - E-Commerce Commission Paid (NOK Billion), 2012-2017
Table 79: Norwegian Persol Accident and Health Insurance - Written Premium Through E-Commerce (NOK Billion), 2008-2012
Table 80: Norwegian Persol Accident and Health Insurance - Written Premium Through E-Commerce (NOK Billion), 2012-2017
Table 81: Norwegian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 82: Norwegian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 83: Norwegian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2008-2012
Table 84: Norwegian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2012-2017
Table 85: Norwegian Persol Accident and Health Insurance - Commission Paid to Brokers (NOK Billion), 2008-2012
Table 86: Norwegian Persol Accident and Health Insurance - Commission Paid to Brokers (NOK Billion), 2012-2017
Table 87: Norwegian Persol Accident and Health Insurance - Written Premium Through Brokers (NOK Billion), 2008-2012
Table 88: Norwegian Persol Accident and Health Insurance - Written Premium Through Brokers (NOK Billion), 2012-2017
Table 89: Norwegian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 90: Norwegian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 91: Norwegian Persol Accident and Health Insurance - Number of Brokers, 2008-2012
Table 92: Norwegian Persol Accident and Health Insurance - Number of Brokers, 2012-2017
Table 93: Norwegian Persol Accident and Health Insurance - Commission Paid to Other Channels (NOK Billion), 2008-2012
Table 94: Norwegian Persol Accident and Health Insurance - Commission Paid to Other Channels (NOK Billion), 2012-2017
Table 95: Norwegian Persol Accident and Health Insurance - Written Premium Through Other Channels (NOK Billion), 2008-2012
Table 96: Norwegian Persol Accident and Health Insurance - Written Premium Through Other Channels (NOK Billion), 2012-2017
Table 97: Norwegian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2008-2012
Table 98: Norwegian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2012-2017
Table 99: Norwegian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2008-2012
Table 100: Norwegian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2012-2017
Table 101: Norwegian Premium Ceded to Reinsurance by Type of Insurance (NOK Billion), 2008-2012
Table 102: Norwegian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 103: Norwegian Premium Ceded to Reinsurance by Type of Insurance (NOK Billion), 2012-2017
Table 104: Norwegian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 105: Norwegian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 106: Norwegian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 107: Norway - Corporation Tax Rates for the Fincial Year 2013
Table 108: Shares of Key Insurers in the Norwegian Persol Accident and Health Insurance Segment (%), 2012
Table 109: Gjensidige Forsikring ASA�, Key Facts
Table 110: If Skadeforsikring, Key Facts
Table 111: Sparebank 1 Forsikring, Key Facts
Table 112: Storebrand, Key Facts
Table 113: Tryg, Key Facts
Table 114: Codan, Key Facts
Table 115: DNB Forsikring, Key Facts
Table 116: Nordea, Key Facts
Table 117: AIG Europe, Key Facts
Table 118: Ace European Group, Key Facts