The global geothermal heat pumps market players are struggling to achieve a steady and noticeable position in the market through product improvement while the level of rivalry amongst them is extreme. The global geothermal heat pumps mar…
BMI View: Israel's insurance market is well developed and diversified, with well capitalised domestic
providers ensuring a comprehensive range of products is available in both the life and non-life sectors.
Premium growth is expected to broadly track wider economic growth in the country, though we do see room
for product and distribution innovation to capture previously excluded sections of the potential consumer
base, leading to more rapid growth in sectors such as health and personal accident insurance.
Key Updates And Forecasts
- Transparency in the market is gradually improving. In September 2016 the Finance Ministry announced
plans to create a database of all insurance policies which consumers can access to ensure they do not
subscribe to multiple policies covering the same risk.
- Attempts continue to sell IDB Development Corp's 55% stake in leading domestic insurance provider
Clal. IDB has reportedly instructed JP Morgan to find a buyer after two attempts to sell the insurer to
Chinese investors failed.
- We hold a broadly positive outlook for Israel's life and non-life sectors. In the larger life sector,
premiums are forecast to grow by 3.3% in 2016 to reach ILS30.3bn while in the non-life sector we expect
to see stronger growth of 6.9% to reach a total of ILS25.4bn.