Non-Life Insurance in Malta, Key Trends and Opportunities to 2019
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The Maltese non-life segment held the largest share of the insurance industry during the review period. Growth was supported by a favorable regulatory framework, stable economic development and an increase in the country’s exports. The non-life segment also benefitted from the growing demand for emerging insurance classes and the presence of many compulsory liability insurance classes. These indicators are expected to remain favorable over the forecast period.
The scope of compulsory liability insurance is very wide in Malta. High inbound tourism in the country and compulsory third-party liability cover for tour operators, travel agents, water sports and diving centers will drive the category’s growth, along with other compulsory professional indemnity classes.
Marine, aviation and transit insurance largely depend on domestic and foreign trade. The rise in trade, particularly exports, is correlated with a rise in marine cargo, air freight insurance and transit insurance. Malta has extensive double taxation agreements with over 70 countries, and is connected with over 165 ports worldwide. Its main export partners are the US, South Korea, Germany and Singapore, while import partners include Italy, Russia, South Korea and Turkey. Exports include refined petroleum, integrated circuits, semiconductor devices, packaged medicaments, and passenger and cargo ships.
Scope
• An analysis of the key trends, drivers and challenges for the non-life insurance segment in Malta
• An examination of the various distribution channels
• A detailed overview of the competitive landscape in the non-life insurance segment
• The key regulatory policies affecting the Maltese non-life insurance industry
• An exhaustive list of parameters in the non-life insurance industry in Malta, including: written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
• Profiles of the leading non-life insurance companies and an outline of the key regulations affecting them
• A detailed analysis of the key categories in the non-life insurance segment, and market forecasts to 2019
• Historical values for the Maltese non-life insurance segment for the report’s 2010 to 2014 review period, with projected figures up to 2019
• The non-life insurance segment’s outlook by product category
• A comprehensive overview of the Maltese economy and associated demographics
• A comparison of the Maltese insurance industry with its regional counterparts
• Detailed analysis of natural hazards and their impact on the Maltese insurance industry
Key Highlights
What is considered a unique feature of the Maltese insurance industry? How many companies are licensed to conduct non-life insurance in the country?
How much of the industry’s gross written premium is accounted for by the non-life segment? What is the largest category? What share of the non-life gross written premium is accounted for by this category?
What type of insurance is mandatory? What are insurers rapidly adapting as a key tool in this category? What different products are available in this category?
Which industry sectors dominate Malta’s economy? What are these sectors dependent upon to operate successfully? What is the second largest risk to these sectors? What insurance product is expected to increase in demand over the forecast period as a result of this risk?
How has the sale of general insurance traditionally been conducted in Malta? How is this trend likely to continue?
What arrangements are offered to insurance companies domiciled outside of Malta? What specialist advice is available in Malta to guide these companies?
Reasons to Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Maltese non-life insurance segment, and each category within it.
• Understand the demand-side dynamics, key market trends and growth opportunities in the Maltese 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 Maltese insurance industry, and their impact on companies and the industry's future.
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