DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/b667tx/personal_accident) has announced the addition of the "Personal Accident and Health Insurance in Belgium, Key Trends and Opportunities to 2017" report to their offering.
In gross written premium terms, the Belgian personal accident and health insurance segment accounted for 9.7% of the country's total insurance industry in 2012, with a value of EUR3.1 billion (US$3.9 billion) after recording a CAGR of 2.1% during the review period (2008- 2012). This growth was primarily due to an increase in medical expenditure and Belgian outbound tourism.
The expansion of the segment was also supported by positive demographic factors such as increased life expectancy and the country's large urban population. In addition, an increase in the government's private and public healthcare expenditure also fuelled segment growth. However, this was hindered to an extent by weak economic growth and the impact of the eurozone sovereign debt crisis.
- Belgium's personal health and accident insurance segment recorded a review-period CAGR of 2.1% despite several domestic and international setbacks. Chief among these was the financial crisis that resulted from the collapse of Lehman brothers in 2009 and a subsequent increase in national debt, events which impaired Belgium's industrial development during the review period
- Increase in outbound tourism driving growth for travel insurance category
- Personal accident and health insurance policies are primarily distributed through insurance brokers, with the brokers channel accounting for a 61.0% share of the segment's total gross written premiums in 2012
- The Belgian insurance industry is regulated and supervised by the National Bank of Belgium (NBB) and the Financial Services and Markets Authority (FSMA)
- A number of multinational insurers, such as AXA, Ergo and Allianz, have significant operations in Belgium and multinationals collectively dominate the country's personal accident and health insurance segment
- The written premium of Belgian health insurance is expected to reach PKR3.6 billion (US$39.2 million) in 2017, after registering a forecast-period CAGR of 19.4%
Key Topics Covered:
1 Executive Summary
3 Regional Market Dynamics
4 Personal Accident and Health Insurance Segment - Regional Benchmarking
5 Belgian Insurance Industry Attractiveness
7 Analysis by Distribution Channels
8 Porter's Five Forces Analysis - Belgian Personal Accident and Health Insurance Segment
9 Reinsurance Growth Dynamics and Challenges
10 Governance, Risk and Compliance
11 Competitive Landscape and Strategic Insights
12 Business Environment and Country Risk
List of Tables
List of Figures
- AG Insurance
- Belfius Insurance (Dexia)
- Chartis Europe
- P&V Assurances
For more information visit http://www.researchandmarkets.com/research/b667tx/personal_accident
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Source: Research and Markets