Boston, MA -- (ReleaseWire) -- 02/07/2014 -- The Israeli insurance industry is one of the largest and most highly developed in Western Asia. The insurance premium per capita and penetration are also among the highest in the region. However, the industry's size and significance still remains small by international standards. The written premium value rose from ILS37.4 billion (US$10.4 billion) in 2008 to ILS47.3 billion (US$12.3 billion) in 2012, at a compound annual growth rate (CAGR) of 6.0% during the review period (2008-2012), driven by the growing demand for savings products, a decline in policy cancellations and economic developments in the country. The improving political and economic conditions in Israel combined with growing demand for insurance products such as long-term savings, personal accident and property insurance will drive growth in the overall Israel insurance industry over the forecast period. The industry is projected to grow from ILS47.3 billion (US$12.3 billion) in 2012 to ILS60.5 billion (US$16.7 billion) in 2017, at a CAGR of 5.0% over the forecast period (2012-2017).
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- The Israeli insurance industry is one of the largest and most highly developed in Western Asia.
- The Israeli insurance industry is also one of the most profitable OECD countries, and all business lines registered profit until 2007.
- The International Monetary Fund (IMF) projects stable economic growth for Israel over the forecast period.
- Almost all insurers in the country posted negative growth in 2008 due to a sharp decline in investment returns in the equity market.
- The life segment grew at a review-period CAGR of 7.9%, while the personal accident and health segment rose at a faster CAGR of 10.0%.
This report provides a comprehensive analysis of the insurance industry in Israel:
- It provides historical values for the Israeli insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key segments and sub-segments in the Israeli insurance industry, along with forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Israel, and outlines the key regulations affecting them.
Reasons to Get This Report
- Make strategic business decisions using in-depth historic and forecast industry data related to the Israeli insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Israeli insurance industry.
- Assess the competitive dynamics in the Israeli insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
Companies Mentioned in this Report: Migdal, Clal, The Phoenix, Harel, Menora Mivtachim, Clal Health, Dykla, I.L.D, Ayalon, Eliahu
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