Insurance in Belgium

Introduction

Insurance in Belgium industry profile provides top-line qualitative and quantitative summary information including: market size (value 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Belgium insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2010 average exchange rate.

*The Belgian insurance market had total gross written premiums of $41.1 billion in 2010, representing a compound annual growth rate (CAGR) of 0.7% between 2006 and 2010.

*The life insurance segment was the market's most lucrative in 2010, with total gross written premiums of $27.4 billion, equivalent to 66.6% of the market's overall value.

*The performance of the market is forecast to accelerate, with an anticipated CAGR of 6.3% for the five-year period 2010 - 2015, which is expected to drive the market to a value of $55.7 billion by the end of 2015.

Features

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Belgium

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Belgium

Leading company profiles reveal details of key insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the Belgium insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the Belgium economy

Key Questions Answered

What was the size of the Belgium insurance market by value in 2010?

What will be the size of the Belgium insurance market in 2015?

What factors are affecting the strength of competition in the Belgium insurance market?

How has the market performed over the last five years?

What are the main segments that make up Belgium's insurance market?
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET SEGMENTATION I 11
MARKET SEGMENTATION II 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Substitutes 18
Rivalry 19
LEADING COMPANIES 20
AXA 20
Dexia Group 25
KBC Group NV 29
AG Insurance 33
MARKET FORECASTS 34
Market value forecast 34
MACROECONOMIC INDICATORS 35
APPENDIX 37
Methodology 37
Industry associations 38
Related Datamonitor research 38
Disclaimer 39
ABOUT DATAMONITOR 40
Premium Reports 40
Summary Reports 40
Datamonitor consulting 40

LIST OF TABLES
Table 1: Belgium insurance market value: $ million, 2006–10 10
Table 2: Belgium insurance market segmentation I:% share, by value, 2010 11
Table 3: Belgium insurance market segmentation II: % share, by value, 2010 12
Table 4: AXA: key facts 20
Table 5: AXA: key financials ($) 22
Table 6: AXA: key financials (€) 22
Table 7: AXA: key financial ratios 23
Table 8: Dexia Group: key facts 25
Table 9: Dexia Group: key financials ($) 26
Table 10: Dexia Group: key financials (€) 26
Table 11: Dexia Group: key financial ratios 27
Table 12: KBC Group NV: key facts 29
Table 13: KBC Group NV: key financials ($) 31
Table 14: KBC Group NV: key financials (€) 31
Table 15: KBC Group NV: key financial ratios 31
Table 16: AG Insurance: key facts 33
Table 17: Belgium insurance market value forecast: $ million, 2010–15 34
Table 18: Belgium size of population (million), 2006–10 35
Table 19: Belgium GDP (constant 2000 prices, $ billion), 2006–10 35
Table 20: Belgium GDP (current prices, $ billion), 2006–10 35
Table 21: Belgium inflation, 2006–10 36
Table 22: Belgium consumer price index (absolute), 2006–10 36
Table 23: Belgium exchange rate, 2006–10 36

LIST OF FIGURES
Figure 1: Belgium insurance market value: $ million, 2006–10 10
Figure 2: Belgium insurance market segmentation I:% share, by value, 2010 11
Figure 3: Belgium insurance market segmentation II: % share, by value, 2010 12
Figure 4: Forces driving competition in the insurance market in Belgium, 2010 13
Figure 5: Drivers of buyer power in the insurance market in Belgium, 2010 14
Figure 6: Drivers of supplier power in the insurance market in Belgium, 2010 15
Figure 7: Factors influencing the likelihood of new entrants in the insurance market in Belgium, 2010 16
Figure 8: Factors influencing the threat of substitutes in the insurance market in Belgium, 2010 18
Figure 9: Drivers of degree of rivalry in the insurance market in Belgium, 2010 19
Figure 10: AXA: revenues & profitability 23
Figure 11: AXA: assets & liabilities 24
Figure 12: Dexia Group: revenues & profitability 27
Figure 13: Dexia Group: assets & liabilities 28
Figure 14: KBC Group NV: revenues & profitability 32
Figure 15: KBC Group NV: assets & liabilities 32
Figure 16: Belgium insurance market value forecast: $ million, 2010–15 34


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