Personal Accident and Health Insurance in Sweden, Key Trends and Opportunities to 2019

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

$1450
Buy Report View Sample

Published: February 25, 2016 Report Code: GD-IS1155MR-ST

Select Item

In Sweden, personal accident and health insurance is sold by both life and non-life insurers. Different forms of personal accident and health policy in Sweden include child, rehabilitation, sickness, and healthcare insurance.

The segment’s gross written premium grew steadily during 2010 to 2012 at a compound annual growth rate (CAGR) of 25.9%; despite a sharp 86.1% decline in 2013 as a result of large-scale premium repayments by AFA Försäkring following 2008 health reforms related to rights to sickness benefit through social insurance. The reforms redirected the insurer repay health premiums to customers collected as part of sickness benefit.

In terms of the number of policies sold, the segment grew consistently during the review period (2010 to 2014), at an average annual rate of 14%. According to Insurance Sweden, an association of Swedish insurers, 622,000 people had private healthcare cover in 2014. The majority of private health insurance is work-based and paid for by the employer; the rest are group policies or individual purchases.

Scope

• The Swedish 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 Swedish personal accident and health insurance segment

• An overview of the competitive landscape in Sweden

• Key developments in the Swedish personal accident and health insurance segment

• An assessment of the new products launched by personal accident and health insurers

• Historical values for the Swedish 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 Sweden

• Detail on key parameters in the Swedish industry, including: written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets as well as total investment income and retentions

Key Highlights

In terms of gross written premium, what percentage of the Swedish industry did the personal accident and health segment account for in 2014?

What key factor drove health insurance sales during the review period? Is this trend anticipated to continue over the forecast period?

What law enables cross-border insurers to market personal accident and health products?

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Swedish personal accident and health insurance segment, by category

• Understand the demand-side dynamics, key market trends and growth opportunities in the Swedish personal accident and health insurance segment

• Assess the competitive landscape in the personal accident and health insurance segment

• Analyze market dynamics and identify growth opportunities in key product categories

• Gain insights into key regulations governing the Swedish insurance industry, and their potential impact on companies in the market as well as the industry's future

Trygg-Hansa
Folksam
Länsförsäkringar
If Skadeförsäkring
Cardif Nordic
Solid Försäkringar
Moderna
Zurich

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Introduction

3.1 What is this Report About?

3.2 Definitions

3.3 Methodology

4 Economy and Demographics

5 Personal Accident and Health Insurance Segment Outlook

5.1 Key Drivers

5.2 Key Trends

5.3 Challenges

5.4 Personal Accident and Health Insurance Growth Prospects by Category

5.4.1 Personal accident insurance

5.4.2 Non-life health insurance

5.4.3 Life health insurance

6 Analysis by Distribution Channel

7 Competitive Landscape and Strategic Insights

7.1 Overview

7.2 Leading Companies in the Swedish Personal Accident and Health Insurance Segment

7.2.1 Trygg-Hansa – company overview

7.2.2 Folksam – company overview

7.2.3 Länsförsäkringar Sak – company overview

7.2.4 If Skadeförsäkring – company overview

7.2.5 Cardif Nordic – company overview

7.2.6 Solid Försäkringar – company overview

7.2.7 Moderna – company overview

7.2.8 Zurich Nordic – company overview

8 Governance, Risk and Compliance

8.1 Legislation Overview and Historical Evolution

8.2 Latest Changes in Regulations

8.3 Legislation and Market Practice by Type of Insurance

8.3.1 Life insurance

8.3.2 Property insurance

8.3.3 Motor insurance

8.3.4 Liability insurance

8.3.5 Marine, aviation and transit insurance

8.3.6 Personal accident and health insurance

8.4 Compulsory Insurance

8.4.1 Motor third-party liability insurance

8.4.2 Workers’ compensation insurance

8.4.3 Air carriers and aircraft operators insurance

8.4.4 Professional indemnity insurance for alternative investment fund managers

8.5 Supervision and Control

8.5.1 International Association of Insurance Supervisors (IAIS)

8.5.2 European Insurance and Occupational Pensions Authority (EIOPA)

8.5.3 Finansinspektionen (FI)

8.6 Non-Admitted Insurance Regulations

8.6.1 Overview

8.6.2 Intermediaries

8.6.3 Market practices

8.6.4 Fines and penalties

8.7 Company Registration and Operations

8.7.1 Types of insurance organization

8.7.2 Establishing a domestic company

8.7.3 Foreign ownership

8.7.4 Types of license

8.7.5 Capital requirements

8.7.6 Solvency margins

8.7.7 Reserve requirements

8.7.8 Investment regulations

8.7.9 Statutory return requirements

8.7.10 Fee structure

8.8 Taxation

8.8.1 Insurance premium or policy taxation

8.8.2 Withholding taxes on premium paid overseas

8.8.3 Corporate tax

8.8.4 VAT

8.8.5 Captives

8.9 Legal System

8.9.1 Introduction

8.9.2 Access to court

8.9.3 Alternative dispute resolution (ADR)

9 Appendix

9.1 Methodology

9.2 Contact GlobalData

9.3 About GlobalData

9.4 GlobalData’s Services

9.5 Disclaimer

Table

Table 1: Swedish Personal Accident and Health Insurance – Key Facts, 2014

Table 2: Insurance Industry Definitions

Table 3: Swedish Government Credit Ratings

Table 4: Swedish Life Expectancy at Birth, 2010–2014

Table 5: Swedish Number of Households, 2011–2014

Table 6: Swedish Personal Accident and Health Insurance – Gross Written Premium (SEK Billion), 2010–2014

Table 7: Swedish Personal Accident and Health Insurance – Gross Written Premium (SEK Billion), 2014–2019

Table 8: Swedish Personal Accident and Health Insurance – Direct Written Premium by Category (SEK Billion), 2010–2014

Table 9: Swedish Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Billion), 2010–2014

Table 10: Swedish Personal Accident and Health Insurance – Direct Written Premium by Category (SEK Billion), 2014–2019

Table 11: Swedish Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Billion), 2014–2019

Table 12: Swedish Personal Accident and Health Insurance – Net Earned Premium (SEK Billion), 2010–2014

Table 13: Swedish Personal Accident and Health Insurance – Net Earned Premium (SEK Billion), 2014–2019

Table 14: Swedish Personal Accident and Health Insurance – Paid Claims (SEK Billion), 2010–2014

Table 15: Swedish Personal Accident and Health Insurance – Paid Claims (SEK Billion), 2014–2019

Table 16: Swedish Personal Accident and Health Insurance – Incurred Loss (SEK Billion), 2010–2014

Table 17: Swedish Personal Accident and Health Insurance – Incurred Loss (SEK Billion), 2014–2019

Table 18: Swedish Personal Accident and Health Insurance – Net Written Premium (SEK Billion), 2010–2014

Table 19: Swedish Personal Accident and Health Insurance – Net Written Premium (SEK Billion), 2014–2019

Table 20: Swedish Personal Accident and Health Insurance – Commission and Expenses (SEK Billion), 2010–2014

Table 21: Swedish Personal Accident and Health Insurance – Commission and Expenses (SEK Million), 2014–2019

Table 22: Swedish Personal Accident and Health Insurance – Total Assets (SEK Billion), 2010–2014

Table 23: Swedish Personal Accident and Health Insurance – Total Assets (SEK Billion), 2014–2019

Table 24: Swedish Personal Accident and Health Insurance – Total Investment Income (SEK Billion), 2010–2014

Table 25: Swedish Personal Accident and Health Insurance – Total Investment Income (SEK Billion), 2014–2019

Table 26: Swedish Personal Accident and Health Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2010–2014

Table 27: Swedish Personal Accident and Health Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2014–2019

Table 28: Swedish Personal Accident Insurance – Direct Written Premium (SEK Billion), 2010–2014

Table 29: Swedish Personal Accident Insurance – Direct Written Premium (SEK Million), 2014–2019

Table 30: Swedish Non-Life Health Insurance – Direct Written Premium (SEK Billion), 2010–2014

Table 31: Swedish Non-Life Health Insurance – Direct Written Premium (SEK Billion), 2014–2019

Table 32: Swedish Life Health Insurance – Direct Written Premium (SEK Billion), 2010–2014

Table 33: Swedish Life Health Insurance – Direct Written Premium (SEK Billion), 2014–2019

Table 34: Swedish Personal Accident and Health Insurance – Segment Shares (%), 2014

Table 35: Trygg-Hansa – Key Facts

Table 36: Folksam – Key Facts

Table 37: Länsförsäkringar Sak – Key Facts

Table 38: If Skadeförsäkring – Key Facts

Table 39: Cardif Nordic – Key Facts

Table 40: Solid Försäkringar – Key Facts

Table 41: Moderna – Key Facts

Table 42: Zurich Nordic – Key Facts

Table 43: Sweden – Insurance Regulatory Framework Key Features

Table 44: Sweden – Life Insurance Regulatory Framework

Table 45: Sweden – Property Insurance Regulatory Framework

Table 46: Sweden – Motor Insurance Regulatory Framework

Table 47: Sweden – Liability Insurance Regulatory Framework

Table 48: Sweden – Minimum Coverage for Aircraft Third-Party Liability Per Accident Per Aircraft

Table 49: Sweden – Corporate Tax Rates for the Financial Year 2015

Figures

Figure 1: Swedish GDP – Contribution by Sector (%), 2014

Figure 2: Swedish Real GDP (SEK Trillion), 2010–2019

Figure 3: SEK – US$ Exchange Rate, 2010–2019

Figure 4: Swedish Consumer Price Inflation, 2010–2019

Figure 5: Swedish Current Account Balance as a Percentage of GDP (%), 2010–2019

Figure 6: Swedish Unemployment Rate, 2010–2019

Figure 7: Swedish Population by Age Group, 1990–2025

Figure 8: Swedish Immigration and Emigration, 2010–2014

Figure 9: Swedish Personal Accident and Health Insurance – Gross Written Premium (SEK Billion), 2010–2014

Figure 10: Swedish Personal Accident and Health Insurance – Gross Written Premium (SEK Billion), 2014–2019

Figure 11: Swedish Personal Accident and Health Insurance – Direct Written Premium by Category (SEK Billion), 2010–2019

Figure 12: Swedish Personal Accident and Health Insurance – Direct Written Premium by Category (% Share), 2014 and 2019

Figure 13: Swedish Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2010–2019

Figure 14: Swedish Personal Accident and Health Insurance – Net Earned Premium (SEK Billion), 2010–2014

Figure 15: Swedish Personal Accident and Health Insurance – Net Earned Premium (SEK Billion), 2014–2019

Figure 16: Swedish Personal Accident and Health Insurance – Paid Claims (SEK Billion), 2010–2014

Figure 17: Swedish Personal Accident and Health Insurance – Paid Claims (SEK Billion), 2014–2019

Figure 18: Swedish Personal Accident and Health Insurance – Incurred Loss (SEK Billion), 2010–2014

Figure 19: Swedish Personal Accident and Health Insurance – Incurred Loss (SEK Billion), 2014–2019

Figure 20: Swedish Personal Accident and Health Insurance – Net Written Premium (SEK Billion), 2010–2014

Figure 21: Swedish Personal Accident and Health Insurance – Net Written Premium (SEK Billion), 2014–2019

Figure 22: Swedish Personal Accident and Health Insurance – Commission and Expenses (SEK Billion), 2010–2014

Figure 23: Swedish Personal Accident and Health Insurance – Commission and Expenses (SEK Billion), 2014–2019

Figure 24: Swedish Personal Accident and Health Insurance – Total Assets (SEK Billion), 2010–2014

Figure 25: Swedish Personal Accident and Health Insurance – Total Assets (SEK Billion), 2014–2019

Figure 26: Swedish Personal Accident and Health Insurance – Total Investment Income (SEK Billion), 2010–2014

Figure 27: Swedish Personal Accident and Health Insurance – Total Investment Income (SEK Billion), 2014–2019

Figure 28: Swedish Personal Accident and Health Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2010–2014

Figure 29: Swedish Personal Accident and Health Insurance – Net Written Premium as a Percentage of Gross Written Premium (%), 2014–2019

Figure 30: Swedish Personal Accident and Health Insurance – Investment Portfolio (SEK Billion), 2010–2014

Figure 31: Swedish Personal Accident and Health Insurance – Investment Portfolio (% Share), 2010 and 2014

Figure 32: Swedish Personal Accident and Health Insurance Penetration (%), 2010–2014

Figure 33: Swedish Personal Accident and Health Insurance – Direct Premium per Capita (SEK), 2010–2014

Figure 34: Swedish Personal Accident Insurance – Direct Written Premium (SEK Billion), 2010–2014

Figure 35: Swedish Personal Accident Insurance – Direct Written Premium (SEK Million), 2014–2019

Figure 36: Swedish Non-Life Health Insurance – Direct Written Premium (SEK Billion), 2010–2014

Figure 37: Swedish Non-Life Health Insurance – Direct Written Premium (SEK Billion), 2014–2019

Figure 38: Swedish Life Health Insurance – Direct Written Premium (SEK Billion), 2010–2014

Figure 39: Swedish Life Health Insurance – Direct Written Premium (SEK Billion), 2014–2019

Figure 40: Swedish Personal Accident and Health Insurance – Segment Shares (%), 2014

Figure 41: Sweden – The Three Pillars of Solvency II

Figure 42: Sweden – Insurance Supervision and Control at Various Levels

Figure 43: Sweden – Insurance Regulatory Frameworks for Company Registration and Operation

Frequently asked questions

Personal Accident and Health Insurance in Sweden, Key Trends and Opportunities to 2019 standard reports
Currency USD
$1,450

Can be used by individual purchaser only

Most Popular
$2,900

Can be shared by unlimited users within one corporate location e.g. a regional office

$4,350

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Add to Basket

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Personal Accident and Health Insurance in Sweden, Key Trends and Opportunities to 2019 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

 Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

 Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

 Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

 Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

 Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

 Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

 Senior Account Manager, TSYS

Related reports

View more Financial Services reports
Financial Services
New
Worldline - Competitor Profile
$350 | March 2024
Financial Services
New
United Kingdom (UK) Bancassurance Distribution Dynamics and Future Market, 2023…
$1,295 | April 2024
Financial Services
New
Huawei Pay - Competitor Profile
$350 | April 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Personal Accident and Health Insurance in Sweden, Key Trends and Opportunities to 2019 in real time.

  • Access a live Personal Accident and Health Insurance in Sweden, Key Trends and Opportunities to 2019 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.
Tell me more