by 藍川芥 aikawake

Insurance coverage News: March 29- April 05 2013

Significant markets
Dwell Information Updated – 01-Mar-2013 Get Now
Insurance plays a main function in the economic system. The world insurance coverage market in 2004 was worth USD3, 244 billion. The two segments of the market are lifestyle and non-life insurance. Existence insurance coverage contributed 57% of the complete worldwide insurance coverage industry in terms of premium volume non-existence insurance coverage contributed 43% of the total international insurance premium.

Amid the regions, the greatest contribution was from Europe. It contributed far more than 36% of the worldwide insurance coverage premium industry in 2004. At nation level, the US was the single largest industry with about 33.eight% of the worldwide insurance coverage premium marketplace share in 2004. Japan was the 2nd biggest insurance market place, with a market share of about 15.one% in 2004. The Uk, which is the largest industry in Europe and the third largest marketplace globally, contributed to more than 9.one% of the complete global insurance coverage premiums in 2004.

In 2010, regionally the biggest contribution was from Europe, which contributed far more than 37.3% of the global insurance premium (Figure 2.two) . At nation level, the US was the single largest marketplace with about 26.eight% of the global insurance coverage premium marketplace share in 2010, down from 33.8% in 2004. Japan continued to be the 2nd greatest insurance premium market place globally with a marketplace share of about 12.85%. The Uk, which is the biggest market in Europe and the third biggest market place globally, contributed to 7.15% of the total international insurance coverage premiums.

Nevertheless, Asia experienced the highest development price in insurance coverage premiums in 2010 at seven.2%, in contrast to 1.eight% in Europe and .7% in North America in 2010.

In 2011, Europe’s share in the worldwide insurance coverage premium volume was one.three% below the 2010 degree, due to the ongoing debt crisis. In accordance to Swiss Re, North America’s share in the global market place declined marginally by .6%, whereas Asia’s share in the worldwide insurance coverage market increased by 1.2%.
Major European Insurance Markets
Reside Data Up to date – 01-Mar-2013 Buy Now
In Europe, the Uk was the biggest insurance market, accounting for 24.6% of the marketplace in 2004. It was then followed by France and Germany. These three accounted for 56.3% of the market place. Other significant nations are Italy, Netherlands, Spain, Switzerland and Belgium (Figure seven.7) . Russia, even though the largest populated country in Europe, accounted for only 1.4% of the European marketplace in 2004.
European macroeconomic indicators
In 2004, European nations had an regular 7.89% penetration, out of which, four.63% was in lifestyle and three.17% in non-lifestyle. Insurance coverage penetration in the Uk is at twelve.60% of GDP, out of which 8.92% was in life and three.68% was in non-lifestyle. It is the highest in Europe, followed by Switzerland at eleven.75%. The United kingdom is also third in the world rankings (Table 7.four) .

Main markets in Western Europe in 2010 were the Uk, Germany, France, Italy, Netherlands, Spain, Switzerland, and Belgium. Poland, Russia, Czech Republic, Hungary, Slovenia, Croatia, and Slovakia are the main markets in Central and Eastern Europe.

In 2010, the United kingdom had the greatest share with 19.one% of total European insurance coverage premium followed by France (17.3%) and Germany (14.eight%). Other major countries are Italy, Netherlands, Spain, Switzerland, Ireland, Russia, and Belgium (Figure 2.9) .