The Insurance Industry in Finland, Key Trends and Opportunities to 2016 - New Market Report

(live-PR.com) - The Finnish insurance industry is well developed and has one of the highest penetration rates among the European Union (EU) countries. The industry is fairly protected resulting in high concentration in the hands of domestic players. Since 2007, all types of commission payments are banned in the financial services industry by the Finnish Financial Supervisory Authority (Fin-FSA). A typical feature

 

of Finnish insurance is that statutory insurance products such as employee pension, workers' compensation and motor liability insurance generate a major share of gross written premiums. Uncertainty in the European region has affected the investment returns of the companies. A growing trend of consolidation has been witnessed in the industry in order to expand the product portfolio and create synergies in business. Over the forecast period, economic recovery and improvement in market conditions will have a positive effect on premium income.

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Key Highlights

* The Finnish insurance industry is well developed and has one of the highest penetration rates among the European Union (EU) countries.
* The industry is fairly protected resulting in high concentration in the hands of domestic players.
* Since 2007, all types of commission payments are banned in the financial services industry by the Finnish Financial Supervisory Authority (Fin-FSA).
* A typical feature of Finnish insurance is that statutory insurance products such as employee pension, workers' compensation and motor liability insurance generate a major share of gross written premiums.
* Uncertainty in the European region has affected the investment returns of the companies.
* A growing trend of consolidation has been witnessed in the industry in order to expand the product portfolio and create synergies in business.
* Over the forecast period, economic recovery and improvement in market conditions will have a positive effect on premium income

Scope

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

* It provides historical values for the Finnish insurance industry for the report's 2007-2011 review period and forecast figures for the 2011-2016 forecast period
* It offers a detailed analysis of the key segments and sub-segments in Finnish insurance industry, along with forecasts until 2016
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
* It profiles the top insurance companies in Finland, and outlines the key regulations affecting them

Reasons to Purchase

* Make strategic business decisions using in-depth historic and forecast industry data related in the Finnish insurance industry and each segment within it
* Understand the demand-side dynamics, key trends and growth opportunities within the Finnish insurance industry
* Assess the competitive dynamics in the Finnish insurance industry
* Identify the growth opportunities and market dynamics within key segments
* Gain insights into key regulations governing the Finnish insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Nordea Life Assurance Finland Limited, Mandatum Life, Aktia Life Insurance Limited, OP Pohjola Group, If P&C Insurance, The Tapiola Group, The Fennia Group, The Local Insurance Group, Pohjantahti Mutual Insurance Company, Turva Mutual Insurance Company

Partial Table of Contents:

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Nordic Region Market Dynamics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
3.2 Life Insurance
3.2.1 Scale and penetration
3.2.2 Growth
3.2.3 Efficiency and risk
3.2.4 Distribution channels
3.3 Non-Life Insurance
3.3.1 Scale and penetration
3.3.2 Growth
3.3.3 Efficiency and risk
3.3.4 Distribution channels
3.4 Personal Accident and Health Insurance
3.4.1 Scale and penetration
3.4.2 Growth
3.4.3 Efficiency and risk
3.4.4 Distribution channels
4 The Finnish Insurance Industry Overview
4.1 Insurance Industry
4.2 Key Industry Trends and Drivers
4.3 Challenges
4.4 Regulation
5 Life Insurance Segment
5.1 Life Insurance Growth Prospects by Categories
5.1.1 Individual life insurance category
5.1.2 Individual pension category
5.1.3 Individual endowment category
5.1.4 Individual unit-linked insurance sub-category
5.1.5 Group life insurance category
5.1.6 Group superannuation category
5.1.7 Group unit-linked insurance category
5.2 Life Insurance Growth Prospects by Customer Segments
5.2.1 Individual single premium category
5.2.2 Individual non-single premium category
5.2.3 Group single premium category
5.2.4 Group non-single premium category
6 Non-Life Insurance Segment
6.1 Non-Life Insurance Growth Prospects
6.1.1 Property insurance category
6.1.2 Fire and allied perils insurance sub-category
6.1.3 Engineering insurance sub-category
6.1.4 Agriculture insurance sub-category
6.1.5 Other property sub-category
6.1.6 Motor hull sub-category
6.1.7 Motor third party sub-category
6.2 General Third Party Category
6.3 Marine, Aviation and Transit Category
7 Personal Accident and Health Insurance Segment
7.1 Personal accident category
7.2 Travel insurance category
7.3 Health insurance category
7.4 Non-life health insurance sub-category
8 Reinsurance Segment
8.1 Reinsurance market size by type of insurance, 2007-2016
9 Analysis by Distribution Channel
9.1 Life Insurance Segment
9.1.1 Direct Marketing Channel
9.1.2 Bancassurance Channel
9.1.3 Agencies Channel
9.1.4 E-Commerce Channel
9.1.5 Brokers channel
9.1.6 Other Channels

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