Life Insurance in Norway, Key Trends and Opportunities to 2020

  • ID: 4369559
  • Report
  • Region: Norway
  • 108 pages
  • Timetric
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FEATURED COMPANIES

  • Danica Pensjonsforsikring
  • DNB Livsforsikring
  • Frende Livsforsikring
  • Gjensidige Forsikring
  • Gjensidige Pensjon
  • Nordea Liv
  • MORE
The 'Life Insurance in Norway Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Norwegian life insurance segment and a comparison of the Norwegian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gprovides a comprehensive overview of the Norwegian economy and demographics, as well as detailed information pertaining to the country's competitive landscape.

The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles insurers operating in the country. The report also includes details of recent changes in regulatory structure.

Summary:

The ' Life Insurance in Norway, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Norwegian life insurance segment, including:
  • The Norwegian life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of the Norwegian economy and demographics
  • The various distribution channels in the Norwegian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Norway
  • Details of regulatory policy applicable to the Norwegian insurance industry
Scope:

This report provides a comprehensive analysis of the life insurance segment in Norway:
  • It provides historical values for the Norwegian life insurance segment for the report’s 2011-2015 review period, and projected figures for the 2015-2020 forecast period.
  • It offers a detailed analysis of the key categories in the Norwegian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Norwegian life insurance segment with its regional counterparts.
  • It analyzes the various distribution channels for life insurance products in Norway.
  • It profiles the top life insurance companies in Norway and outlines the key regulations affecting them.
Reasons To Buy:
  • Make strategic business decisions using in-depth historic and forecast market data related to the Norwegian life insurance segment, and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Norwegian life insurance segment
  • Assess the life segment's competitive dynamics
  • Identify growth opportunities and market dynamics in key product categories
  • Gain insights into key regulations governing the Norwegian insurance industry
Key Highlights:
  • The Norwegian life segment remained dominated by guaranteed interest life products, with average associated returns above the prevalent interest rate.
  • The government announced plans to remove the VAT exception rule for companies providing financial services and will introduce new taxation by January 2017.
  • On January 1, 2016, new provisions on disability pension associated with private occupational pension became effective.
  • The Norwegian life segment is highly competitive and characterized by price competition.
  • The segment is concentrated, with the top 10 insurers accounting for 99.2% of the segment’s gross written premium in 2015.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Danica Pensjonsforsikring
  • DNB Livsforsikring
  • Frende Livsforsikring
  • Gjensidige Forsikring
  • Gjensidige Pensjon
  • Nordea Liv
  • MORE
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.2 Group Life Insurance
5.2.1 Premium
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Competitive Landscape
7.1 Overview
7.2 Company Profiles
7.2.1 Kommunal Landspensjonskasse gjensidig forsikringsselskap (KLP) - company overview
7.2.2 DNB Livsforsikring - company overview
7.2.3 Storebrand Livsforsikring - company overview
7.2.4 Nordea Liv - company overview
7.2.5 Sparebank 1 Livsforsikring AS - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
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 Workmen’s compensation insurance
8.4.2 Motor third-party liability insurance
8.4.3 Air carriers and aircraft liability insurance
8.4.4 Natural disaster insurance for property cover
8.4.5 Professional indemnity insurance for alternative investment fund managers
8.4.6 Professional indemnity insurance for insurance brokers
8.4.7 Third-party liability insurance for remotely piloted aerial vehicles
8.4.8 Third-party liability insurance for nuclear facilities
8.4.9 Clinical trials liability insurance
8.4.10 Liability for ships with respect to oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 The Financial Supervisory Authority of Norway
8.5.4 The Nordic Association of Marine Insurers
8.6 Non-Admitted Insurance Regulation
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 Type of insurance organization
8.7.2 Establishing a local 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 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Individual Life Insurance
9.5 Individual Life Insurance by Product
9.6 Group Life Insurance
9.7 Group Life Insurance by Product
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About
11.1 Contact
11.2 About
11.3 Services
11.4 Disclaimer

List of Tables
Table 1: Norwegian Life Insurance - Key Facts, 2015
Table 2: Norwegian Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Norwegian Government Credit Ratings
Table 4: Norwegian Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2011-2015
Table 5: Norwegian Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2015-2020
Table 6: Norwegian Life Insurance - New Business Direct Written Premium (NOK Billion and US$ Billion), 2011-2015
Table 7: Norwegian Life Insurance - New Business Direct Written Premium (NOK Billion and US$ Billion), 2015-2020
Table 8: Norwegian Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 9: Norwegian Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 10: Norwegian Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2011-2015
Table 11: Norwegian Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2015-2020
Table 12: Norwegian Life Insurance - Total Assets (NOK Billion and US$ Billion), 2011-2015
Table 13: Norwegian Life Insurance - Total Assets (NOK Trillion and US$ Billion), 2015-2020
Table 14: Norwegian Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2011-2015
Table 15: Norwegian Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2015-2020
Table 16: Norwegian Life Insurance - Investment Portfolio (NOK Billion), 2011-2015
Table 17: Norwegian Life Insurance - Investment Portfolio (NOK Billion), 2015-2020
Table 18: Norwegian Life Insurance - Gross Written Premium by Sub-Segment (NOK Billion), 2011-2015
Table 19: Norwegian Life Insurance - Gross Written Premium by Sub-Segment (NOK Billion), 2015-2020
Table 20: Norwegian Individual Life Insurance - Gross Written Premium by Category (NOK Billion), 2011-2015
Table 21: Norwegian Individual Life Insurance - Gross Written Premium by Category (NOK Billion), 2015-2020
Table 22: Norwegian Group Life Insurance - Direct Written Premium by Category (NOK Billion), 2011-2015
Table 23: Norwegian Group Life Insurance - Direct Written Premium by Category (NOK Billion), 2015-2020
Table 24: Norwegian Life Insurance - Market Shares of Leading Insurers (%), 2015
Table 25: Kommunal Landspensjonskasse - Key Facts
Table 26: Kommunal Landspensjonskasse - Key Financials (NOK Million), 2011-2015
Table 27: DNB Livsforsikring - Key Facts
Table 28: DNB Livsforsikring - Key Financials (NOK Million), 2011-2015
Table 29: Storebrand Livsforsikring - Key Facts
Table 30: Storebrand Livsforsikring - Key Financials (NOK Million), 2011-2015
Table 31: Nordea Liv - Key Facts
Table 32: Nordea Liv - Key Financials (NOK Million), 2011-2015
Table 33: Sparebank 1 Livsforsikring - Key Facts
Table 34: Sparebank 1 Livsforsikring - Key Financials (NOK Million), 2011-2015
Table 35: Norway - Insurance Regulatory Framework Key Features
Table 36: Norway- Life Insurance Regulatory Framework
Table 37: Norway - Property Insurance Regulatory Framework
Table 38: Norway - Motor Insurance Regulatory Framework
Table 39: Norway - Liability Insurance Regulatory Framework
Table 40: Norway - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
Table 41: Norway - Corporate Tax Rates for the Financial Year 2016
Table 42: Norwegian Life Insurance - Policies and Premium, 2011-2015
Table 43: Norwegian Life Insurance - Policies and Premium, 2015-2020
Table 44: Norwegian Life Insurance - Claims and Expenses, 2011-2015
Table 45: Norwegian Life Insurance - Claims and Expenses, 2015-2020
Table 46: Norwegian Life Insurance - Assets and Investments, 2011-2015
Table 47: Norwegian Life Insurance - Assets and Investments, 2015-2020
Table 48: Norwegian Life Insurance - Individual Life Insurance, 2011-2015
Table 49: Norwegian Life Insurance - Individual Life Insurance, 2015-2020
Table 50: Norwegian Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 51: Norwegian Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 52: Norwegian Life Insurance - Group Life Insurance, 2011-2015
Table 53: Norwegian Life Insurance - Group Life Insurance, 2015-2020
Table 54: Norwegian Life Insurance - Group Life Insurance by Product, 2011-2015
Table 55: Norwegian Life Insurance - Group Life Insurance by Product, 2015-2020
Table 56: Insurance Industry Definitions

List of Figures
Figure 1: Norwegian Real GDP (NOK Trillion), 2011-2020
Figure 2: Norwegian NOK-US$ Exchange Rate, 2011-2020
Figure 3: Norwegian Consumer Price Inflation (%), 2011-2020
Figure 4: Norwegian Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 5: Norwegian Unemployment Rate (%), 2011-2020
Figure 6: Norwegian Population by Age Group, 1991-2025
Figure 7: Norwegian Insurance Segment Gross Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Norwegian Life Insurance - Gross Written Premium (NOK Billion), 2011-2020
Figure 9: Norwegian Life Insurance - New Business Direct Written Premium (NOK Billion), 2011-2020
Figure 10: Norwegian Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 11: Norwegian Life Insurance - Paid Claims (NOK Billion), 2011-2020
Figure 12: Norwegian Life Insurance - Total Assets (NOK Billion), 2011-2020
Figure 13: Norwegian Life Insurance - Total Investment Income (NOK Billion), 2011-2020
Figure 14: Norwegian Life Insurance - Investment Portfolio (NOK Billion), 2011-2020
Figure 15: Norwegian Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 16: Norwegian Life Insurance - Gross Written Premium by Sub-Segment (NOK Billion), 2011-2020
Figure 17: Norwegian Life Insurance - Gross Written Premium Share by Sub-Segment, 2011-2020
Figure 18: Norwegian Life Insurance - Gross Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 19: Norwegian Individual Life Insurance - Gross Written Premium by Category (NOK Billion), 2011-2020
Figure 20: Norwegian Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 21: Norwegian Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 22: Norwegian Group Life Insurance - Gross Written Premium by Category (NOK Billion), 2011-2020
Figure 23: Norwegian Group Life Insurance - Gross Written Premium Share by Category (NOK Billion), 2011-2020
Figure 24: Norwegian Group Life Insurance - Gross Written Premium Dynamics by Category (NOK Billion), 2011-2020
Figure 25: Norwegian Life Insurance - Market Shares of Leading Insurers (%), 2015
Figure 26: Norway - The Three pillars of Solvency II
Figure 27: Norway - Insurance Supervision and Control at Various Levels
Figure 28: Norway - Insurance Regulatory Frameworks for Company Registration and Operation
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  • Kommunal Landspensjonskasse
  • DNB Livsforsikring
  • Storebrand Livsforsikring
  • Nordea Liv
  • SpareBank 1
  • Oslo Pensjonsforsikring
  • Gjensidige Pensjon
  • Danica Pensjonsforsikring
  • Gjensidige Forsikring
  • Frende Livsforsikring
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