Research and Markets: Life Insurance in Luxembourg, Key Trends and Opportunities to 2017 Research Report

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/q949t3/life_insurance_in) has announced the addition of the "Life Insurance in Luxembourg, Key Trends and Opportunities to 2017" report to their offering.

Luxembourg is a leading financial center and hub for private banking, insurance and investment funds in the EU. The country's economy is highly developed, with the highest GDP per capita in the world. The availability of multilingual and multicultural experts, flexible and deferrable tax regimes, and a standardized regulatory regime has made it one of the leading centers of insurance and reinsurance business in Europe.

It is also an attractive destination for cross- border life insurance business, where it acts as a center for global insurers to launch new policies under the EU's freedom of services provision. The life insurance segment is highly competitive and concentrated, with the 10 leading companies accounting for 79.1% of the gross written premiums in 2012. Overall, 48 life insurers, of which 43 are domestic, one is foreign, and four are pension companies, operated in the country in 2012. Commissariat aux Assurances (CA) is the insurance regulator.

The report provides in-depth market analysis, information and insights into the Luxembourg life insurance segment, including:

- The Luxembourg life insurance segment's growth prospects by life insurance categories

- Key trends and drivers for the life insurance segment

- The various distribution channels in the Luxembourg life insurance segment

- The detailed competitive landscape in the life insurance segment in Luxembourg

- Detailed regulatory policies of the Luxembourg insurance industry

- A description of the life reinsurance segment in Luxembourg

- Porter's Five Forces analysis of the life insurance segment

Key Highlights

- Life insurance was the largest segment in the insurance industry in 2012, accounting for 89.0% of the industry's total written premiums in 2012

- Individual life insurance dominated the segment in 2012, accounting for 78.7% of the segment's gross written premiums

- Reforms in the pension system, which came into force from January 2013, increased the contribution rate from 24.0% of wages to 30.0%

- Bancassurance's popularity is primarily due to the presence of large financial institutions in the country, and insurers entering into agreements with leading banks to market their products

- The segment is highly concentrated, with the 10 leading insurers collectively representing a 79.1% share of written premiums in 2012

Companies Mentioned

- Allianz Life Luxembourg

- Baloise Vie Luxembourg

- CALI Europe

- Cardif Lux Vie

- Foyer International

- La Mondiale Europartner

- Lombard International Assurance

- R+V Luxembourg

- Sogelife

- Swiss Life (Luxembourg)

For more information visit http://www.researchandmarkets.com/research/q949t3/life_insurance_in

About Research and Markets

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Research and Markets
Laura Wood, Senior Manager.
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Sector: Life Insurance

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