Personal Accident and Health Insurance in Luxembourg, Key Trends and Opportunities to 2019
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Luxembourg is one of only nine countries which hold AAA ratings from Standard & Poor’s, Moody’s and Fitch. A well-supervised financial and service sector, decreasing unemployment, highly qualified workforce and ability to attract foreign investors contribute to its healthy credit rating.
The financial sector has been a key part of Luxembourg’s economy, and is expected to remain so over the forecast period. In 2015, the sector accounted for 27% of the country's gross value added, 12% of employment, 23% of government tax revenues, and 36% of GDP. Structural changes in the regulatory and supervisory framework, such as the end of bank secrecy and the establishment of the Single Supervisory Mechanism, will affect the economy over the forecast period.
Luxembourg’s personal accident and health insurance segment remained resilient to the economic downturn and recorded robust growth during the review period (2010 to 2014). Growth in the segment was driven by a range of factors.
Life expectancy in Luxembourg is one of the highest in Europe. Rising life expectancy and an aging population are key growth drivers of personal accident and health insurance. As life expectancy is used as a parameter to calculate personal accident and health premiums any increase will raise premium costs and support the segment’s growth.
Scope
• The Luxembourg personal accident and health insurance segment’s growth prospects by insurance category
• Analysis of the key trends, drivers and challenges for the personal accident and health insurance segment
• Detail on the various distribution channels in the personal accident and health insurance segment
• An overview of the competitive landscape in Luxembourg
• Key developments in the personal accident and health insurance segment
• An assessment of the new products launched by personal accident and health insurers
• Historical values for the Luxembourg personal accident and health insurance segment for the report’s 2010 to 2014 review period, along with projected figures up to 2019
• A series of profiles of the leading accident and health insurance companies in Luxembourg
• Detail on key parameters in the Luxembourg industry, including: written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets as well as total investment income and retentions
• A comprehensive overview of Luxembourg's economy and demographics
Key Highlights
Which health provision in Luxembourg leaves little scope for private insurance?
What percentage of the industry’s gross written premium was accounted for by personal accident and health insurance in the review period?
Which two key factors are expected to drive growth in the segment over the forecast period?
Which segment has been the primary focus of Luxembourg’s private health insurers?
Reasons to Buy
• Make more informed strategic business decisions utilizing GlobalData’s in-depth historic and forecast market data on each category within the Luxembourg personal accident and health insurance segment
• Identify the key market trends in the Luxembourg personal accident and health insurance segment; identify opportunities to grow your market share
• Analyze the regulatory developments in the Luxembourg insurance industry and ensure you are compliant and aware of any associated risks to your revenues
• Identify the market dynamics; ensure your value proposition is best placed to drive revenue growth
DKV Luxembourg SA
National General Insurance Luxembourg SA
Foyer Santé SA
Axa Assurances Luxembourg SA
La Luxembourgeoise SA
Foyer Assurances SA
Swiss Re International SE
Baloise Assurances Luxembourg SA
Arisa Assurances SA
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