Sweden General Insurance Market Size and Trends by Line of Business, Distribution, Competitive Landscape and Forecast to 2028

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Published: January 16, 2024 Report Code: GDIS2794MR-ST

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Sweden General Insurance Market Report Overview

The gross written premium of the Sweden general insurance market was SEK102.5 billion ($10.1 million) in 2023 and is expected to achieve a CAGR of more than 4% during 2024-2028. The Sweden general insurance market research report provides in-depth market analysis, including insights into the lines of business in the country’s general insurance industry. Furthermore, the report provides a detailed outlook by product category as well as values for key performance indicators, including gross written premium, penetration, and premium ceded and cession rates for the review and forecast periods.

Sweden General Insurance Market Outlook, 2023-2027 (SEK Billion)

Sweden General Insurance Market Outlook, 2023-2027 (SEK Billion)

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The Sweden general insurance market report also analyzes distribution channels operating in the segment and gives a comprehensive overview of the Hong Kong’s economy and demographics. It further evaluates the competitive landscape in the country, which entails segment dynamics, competitive advantages, and profiles of insurers operating in the country. Moreover, it includes details of insurance regulations and recent changes in the regulatory structure.

Market Size (2023) SEK102.5 billion ($10.1 million)
CAGR (2024-2028) >4%
Forecast Period 2024-2027
Historical Period 2019-2023
Key Lines of Business ·        Property

·        Motor

·        Liability

·        Financial Lines

·        Non Life PA & H

·        MAT
Key Distribution Channels ·        Direct from insurer

·        Financial advisor

·        Online aggregator

·        Insurance broker

·        Bank
Leading Companies ·        If Skadeförsäkring

·        Trygg-Hansa

·        Folksam ömsesidig

·        Agria

·        Skåne ömsesidigt

·        Sak

·        Stockholm

·        Protector Sverige

·        Gjensidige

·        Göteborg och
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Sweden General Insurance Market Trends

ESG, pet insurance, digital initiatives, and EVs are a few of the recurring trends in the Sweden general insurance market.

In Q3 2023, electric Vehicles (EV) sales increased significantly in Sweden. Additionally, the country experienced a substantial increase in the number of public fast-charging stations in 2023. Furthermore, Sweden has set a target to achieve net-zero greenhouse gas emissions by 2045 at the latest. The Swedish Government issued several plans to quicken the switch to more environmentally friendly modes of transportation.

Sweden General Insurance Market Segmentation by Lines of Business

Property insurance was the leading general insurance line of business in 2023

The key lines of business in the Sweden general insurance industry are property, motor, liability, financial lines, MAT, and Non-Life PA&H. Homeowners’ insurance and renters’ insurance are the key drivers of property insurance in the country.

Sweden General Insurance Market Analysis by Lines of Business, 2023 (%)

Sweden General Insurance Market Analysis by Lines of Business, 2023 (%)

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Sweden General Insurance Market Segmentation by Distribution Channels

Direct from Insurer was the leading distribution channel in 2023

A few of the key distribution channels in the Sweden general insurance industry are direct from insurer, financial advisor, online aggregator, insurance broker, and bank. In Sweden, a prominent percentage of people prefer purchasing home building and contents insurance directly from an insurer. It was the most-sought-after channel for all groups of customers.

Sweden General Insurance Market Analysis by Distribution Channels, 2023 (%)

Sweden General Insurance Market Analysis by Distribution Channels, 2023 (%)

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Sweden General Insurance Market - Competitive Landscape

If Skadeförsäkring was the largest general insurer in 2022

A few of the leading general insurance companies in Sweden are:

  • If Skadeförsäkring
  • Trygg-Hansa
  • Folksam ömsesidig
  • Agria
  • Skåne ömsesidigt
  • Sak
  • Stockholm
  • Protector Sverige
  • Gjensidige
  • Göteborg och

If Skadeförsäkring had the highest CAGR during 2018-2022. If’s website provides an exclusive portal for its customers to file and monitor claims, and to manage its insurance plans.

Sweden General Insurance Market Analysis by Companies, 2022 (%)

Sweden General Insurance Market Analysis by Companies, 2022 (%)

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Sweden General Insurance Market – Recent Deals

A few of the recent developments in Sweden general insurance market are:

  • Säkra acquired Confidentor, a prominent provider of investment advice, pension planning, and life insurance solutions. This acquisition strengthened Säkra’s position in the wealth management segment and expanded its service offerings to meet the diverse financial needs of its clients in 2023.
  • Säkra Group acquired JP Spar and Forsakring, a well-established insurance intermediary offering a wide range of insurance products and services to both individual and corporate clients.

Segments Covered in the Report

Sweden General Insurance Lines of Business Outlook (Value, SEK Billion, 2019-2028)

  • Property
  • Motor
  • Liability
  • Financial Lines
  • MAT
  • General Insurance PA&H

Sweden General Insurance Distribution Channels Outlook (Value, SEK Billion, 2019-2028)

  • Direct from insurer
  • Financial advisor
  • Online aggregator
  • Insurance broker
  • Bank

Scope

This report contains a deep dive analysis of market size, including a 10-year forecast of value, volume and average selling price, combined with a transparent methodology allowing full understanding of the key drivers of the market.

A few of the key data points in the market model, include:

  • Currently available marketed products.

  • Annualized total NPWT Devices and Accessories market revenue by segment and market outlooks from 2015-2033.

  • Granular data on the total procedures, installed base, units, average selling price and market values by segment (wherever available).

Key Highlights

• Key insights and dynamics of Sweden’s general insurance segment.

• A comprehensive overview of Sweden’s economy, government initiatives, and investment opportunities.

• Sweden’s insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.

• Sweden’s general insurance industry’s market structure giving details of lines of business.

• Sweden’s general reinsurance business’ market structure giving details of premium ceded along with cession rates.

• Distribution channels deployed by the Sweden’s general insurers.

• Details of the competitive landscape and competitors’ profiles.

Reasons to Buy

  • Get important, expert insight you won’t find in any other source. The model illustrates qualitative trends within the specified market.

  • Understand the impact of COVID-19 on NPWT Devices and Accessories market.

  • Develop business strategies by understanding the trends shaping and driving NPWT Devices and Accessories market.

  • Formulate effective sales and marketing strategies by understanding the market potential.

  • Identify players and create effective counter-strategies to gain a competitive advantage.

  • Track device sales in the country-specific NPWT Devices and Accessories market from 2015-2033.

  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.

This model will specifically support following stakeholders in taking required planning and strategic decisions:

  • CMO executives who must have deep understanding of the NPWT Devices and Accessories marketplace to make strategic planning and investment decisions.

  • Sourcing and procurement executives who must understand crucial components of the supply base in order to make decisions about supplier selection and management.

  • Private equity investors that need a deeper understanding of the market to identify and value potential investment targets.

If Skadeförsäkring
Folksam ömsesidig
Trygg-Hansa
Moderna Försäkringar
Försäkringsaktiebolaget Agria
Länsförsäkringar Östgöta
Länsförsäkringar Sak Försäkringsaktiebolag
Länsförsäkringar Stockholm

Table of Contents

Executive Summary

Economy Overview

Regulatory and Compliance

Key Market Trends

Trends and KPIs

Line of Business

Distribution Channel

Competitive Landscape

Deals and Jobs

Competitor Profiles

Reinsurance

Appendix

Frequently asked questions

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