The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022


The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022

Summary

GlobalData’s 'The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022' report provides detailed analysis of the market trends, drivers and challenges in the Liechtensteiner insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Liechtensteiner economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

The report provides in-depth market analysis, information and insights into the Liechtensteiner insurance industry, including -
- The Liechtensteiner insurance industry's growth prospects by segment and category
- A comprehensive overview of the Liechtensteiner economy and demographics
- Details of the competitive landscape in the Liechtensteiner insurance industry
- The various distribution channels in the Liechtensteiner insurance industry
- Details of regulatory policy applicable to the Liechtensteiner insurance industry
- Analysis of natural hazards in the Liechtensteiner insurance industry

Key Highlights

- In 2017, the Liechtenstein Health Insurance Association announced an increase in compulsory health insurance premiums by an average of 0.6% in 2018.
- In 2017, the FMA managed and guided 64 insurance intermediaries, comprising 53 insurance brokers and 11 agents operating in the country.
- In 2017, 35 insurers were operating in Liechtenstein’s insurance industry, which includes 20 life insurance, 15 general insurers and three reinsurers.

Scope

- This report provides a comprehensive analysis of the insurance industry in Liechtenstein.
- It provides historical values for the Liechtensteiner insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key segments in the Liechtensteiner insurance industry, with market forecasts to 2022.
- It covers an exhaustive list of parameters, including written premium and claims.
- It analyzes the various distribution channels in Liechtenstein.
- It profiles the top insurance companies in Liechtenstein, and outlines the key regulations affecting them.

Reasons to buy

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

Table of Contents
1 KEY FACTS AND HIGHLIGHTS 2
2 EXECUTIVE SUMMARY 3
3 ECONOMY AND DEMOGRAPHICS 9
4 INDUSTRY OUTLOOK 11
    4.1 Industry Indicators 13
      4.1.1 Gross written premium 13
      4.1.2 Insurance density 14
5 LIFE INSURANCE OUTLOOK 15
    5.1 Segment Indicators 15
      5.1.1 Gross written premium 15
      5.1.2 Penetration 16
6 GENERAL INSURANCE OUTLOOK 17
    6.1 Segment Indicators 17
      6.1.1 Gross written premium 17
      6.1.2 Penetration 18
7 REINSURANCE OUTLOOK 19
    7.1 Reinsurance Accepted 20
8 DISTRIBUTION CHANNEL OUTLOOK 21
9 NATURAL AND MAN-MADE HAZARDS 22
    9.1 Earthquakes 22
    9.2 Exposure 22
10 COMPETITIVE LANDSCAPE 23
    10.1 Company Profiles 24
      10.1.1 Allianz Risk Transfer AG - company overview 24
      10.1.2 ElipsLife AG - company overview 24
      10.1.3 Nucleus Life AG - company overview 25
      10.1.4 Quantum Leben AG - company overview 25
      10.1.5 Baloise Life (Liechtenstein) AG - company overview 26
11 GOVERNANCE, RISK AND COMPLIANCE 27
    11.1 Legislation Overview and Historical Evolution 28
    11.2 Latest Changes in Regulation 29
    11.3 Legislation and Market Practice by Type of Insurance 44
      11.3.1 Life insurance 44
      11.3.2 Property insurance 45
      11.3.3 Motor insurance 46
      11.3.4 Liability insurance 48
      11.3.5 Marine, aviation and transit insurance 49
      11.3.6 Personal accident and health insurance 49
    11.4 Compulsory Insurance 51
      11.4.1 Social security system 51
      11.4.2 Motor third-party liability insurance 52
      11.4.3 Professional indemnity insurance for intermediaries 53
      11.4.4 Buildings insurance against risks of occurrence of fire and natural disasters 53
      11.4.5 Professional indemnity insurance for alternative investment fund managers 53
    11.5 Supervision and Control 54
      11.5.1 International Association of Insurance Supervisors 54
      11.5.2 European Insurance and Occupational Pensions Authority 55
      11.5.3 Financial Market Authority 55
    11.6 Non-Admitted Insurance Regulations 56
      11.6.1 Overview 56
      11.6.2 Intermediaries 56
      11.6.3 Market practices 57
      11.6.4 Fines and Penalties 57
    11.7 Company Registration and Operations 58
      11.7.1 Type of insurance organization 59
      11.7.2 Establishing a local company 59
      11.7.3 Foreign ownership 60
      11.7.4 Types of license 61
      11.7.5 Capital requirements 62
      11.7.6 Solvency margin 63
      11.7.7 Reserve requirements 65
      11.7.8 Investment regulations 65
      11.7.9 Statutory return requirements 66
      11.7.10 Fee structure 67
    11.8 Taxation 68
      11.8.1 Insurance premium or policy taxation 68
      11.8.2 Withholding taxes on premium paid overseas 68
      11.8.3 Corporate tax 68
      11.8.4 VAT 69
      11.8.5 Captives 69
    11.9 Legal System 70
      11.9.1 Introduction 70
      11.9.2 Access to court 70
      11.9.3 Alternative dispute resolution 71
12 DATABOOK 72
    12.1 Life Insurance 72
      12.1.1 Policies and premium 72
    12.2 General Insurance 73
      12.2.1 Policies and premium 73
13 DEFINITIONS AND METHODOLOGY 74
    13.1 Definitions 74
    13.2 Methodology 76
14 ABOUT GLOBALDATA 78
    14.1 Contact GlobalData 78
    14.2 About GlobalData 78
    14.3 GlobalData’s Services 79
    14.4 Disclaimer 80







REPORT YOU MIGHT BE INTERESTED