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Life Insurance in Finland, Key Trends and Opportunities to 2017 - New Study Released

New Insurance market report from Timetric: "Life Insurance in Finland, Key Trends and Opportunities to 2017"

 

Boston, MA -- (ReleaseWire) -- 02/18/2014 -- Life insurance was the largest segment in the Finnish insurance industry in 2012, accounting for 81.8% of the industry's gross written premium in 2012. Pure risk, capital-redemption and unit-linked policies will record considerable growth between 2012 and 2018, although the opposite will be the case with guaranteed-return policies due to subdued interest rates on government bonds. The solvency margin of life insurers was more than five times the required level in 2012.

Key Highlights

- Life insurance was the largest segment in the Finnish insurance industry in 2012, accounting for 81.8% of the industry's gross written premium in 2012.
- Bancassurance is the main channel of distribution for life insurance products, accounting for 54.2% of the segment's new business gross written premiums in 2012.
- With low interest rates offered on government bonds, there has been a decrease in both demand for and supply of guaranteed-return policies.
- In 2012, the life insurers' solvency ratio was more than 23% higher than requirements, on account of potential payouts to policyholders.
- The life segment is highly concentrated, with the 10 leading companies collectively accounting for 97.1% of the segment's written premiums in 2012.

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the life insurance segment in Finland:

- It provides historical values for the Finnish life insurance segment for the report's 2008-2012 review period, and expected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key categories in the Finnish life insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in Finland.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Finland for the life insurance business.
- It provides a detailed analysis of the reinsurance segment in Finland and its growth prospects.
- It profiles the top life insurance companies in Finland and outlines the key regulations affecting them.

Reasons to Get This Report

- Make strategic business decisions using in-depth historic and forecast market data related to the Finnish life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Finnish life insurance segment
- Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories

Companies Mentioned in this Report: Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company, LocalTapiola Mutual Pension Insurance Company, Nordea Life Assurance Finland Ltd, Fenia Mutual Pension Insurance Company, Mandatum Life Insurance Company Ltd, OP Life Assurance Company Ltd, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company Ltd, LocalTapiola Mutual Life Insurance Company

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