Synopsis
Timetric's 'Non-Life Insurance in Denmark, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Danish non-life insurance segment, and a comparison of the Danish insurance industry with its regional counterparts.
It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Danish economy and demographics, explains the various types of natural hazard and their impact on the Danish insurance industry, and provides detailed information on the competitive landscape in the country.
The report brings together Timetric'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.
Summary
Timetric's 'Non-Life Insurance in Denmark, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Danish non-life insurance segment, including:
The Danish non-life insurance segment's detailed outlook by product category
A comprehensive overview of the Danish economy and demographics
A comparison of the Danish insurance industry with its regional counterparts
Analysis of distribution channels in the Danish non-life insurance segment
Detailed analysis of natural hazards and their impact on the Danish insurance industry
Details of the competitive landscape in the life insurance segment in Denmark
Details of regulatory policy applicable to the Danish insurance industry
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Denmark:
It provides historical values for the Danish non-life insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
It offers a detailed analysis of the key categories in the Danish non-life insurance segment, and market forecasts to 2019.
It profiles the top non-life insurance companies in Denmark, 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 Danish non-life insurance segment, and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Danish non-life insurance segment.
Assess the competitive dynamics in the non-life insurance segment.
Identify growth opportunities and market dynamics in key product categories.
Gain insights into key regulations governing the Danish insurance industry, and their impact on companies and the industry's future.
Key Highlights
Denmark's non-life insurance segment posted a review-period CAGR of 4.2%.
The DFSA (Danish Finanstilsynet) is Denmark's financial regulatory authority, and is responsible for the regulation of financial markets in Denmark
Denmark's non-life insurance penetration stood at 2.50% in 2014, which is high compared to the other EU countries.
The Danish non-life segment was dominated by property insurance, which accounted for 45.6% of the segment's gross written premium in 2014.
In 2014, cloudbursts caused insurers to compensate DKK651.0 million.
The Danish non-life insurance segment is competitive and highly concentrated, with the 10 leading companies accounting for 89.7% of the segment's total direct written premium in 2014.
Non-Life Insurance in Denmark, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Premium
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Product
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Profitability
6 Distribution Channel Outlook
6.1 List of Brokers
7 Natural Hazards
7.1 Cloudburst
7.2 Flooding
7.3 Storms
7.4 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Danish Non-Life Insurance Segment
8.2.1 Tryg Forsikring A/S - company overview
8.2.2 Codan Forsikring A/S - company overview
8.2.3 Topdanmark Forsikring A/S - company overview
8.2.4 Alm. Brand Forsikring A/S - company overview
8.2.5 LB Forsikring A/S - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Air carriers and aircraft operators insurance
9.4.3 Workmen's compensation insurance
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.4.5 Third-party liability insurance for dogs
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 European Insurance and Occupational Pensions Authority
9.5.3 Danish Financial Supervisory Authority (DFSA)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer
List of Tables
Table 1: Danish Non-Life Insurance - Key Facts
Table 2: Danish Non-Life Insurance - Leading Insurers' Market Shares, 2014
Table 3: Danish Government Credit Ratings, 2015*
Table 4: Danish Non-Life Insurance - Gross Written Premium (DKK Billion and US$ Billion), 2010-2014
Table 5: Danish Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Danish Non-Life Insurance - Gross Written Premium (DKK Billion and US$ Billion), 2014-2019
Table 7: Danish Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Danish Non-Life Insurance - Premium per Capita (DKK and US$), 2010-2014
Table 9: Danish Non-Life Insurance - Premium per Capita (DKK and US$), 2014-2019
Table 10: Danish Non-Life Insurance - Paid Claims (DKK Billion and US$ Billion), 2010-2014
Table 11: Danish Non-Life Insurance - Paid Claims (DKK Billion and US$ Billion), 2014-2019
Table 12: Danish Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Danish Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Danish Non-Life Insurance - Total Assets (DKK Billion and US$ Billion), 2010-2014
Table 15: Danish Non-Life Insurance - Total Assets (DKK Billion and US$ Billion), 2014-2019
Table 16: Danish Non-Life Insurance - Total Investment Income (DKK Billion and US$ Billion), 2010-2014
Table 17: Danish Non-Life Insurance - Total Investment Income (DKK Billion and US$ Billion), 2014-2019
Table 18: Danish Non-Life Insurance - Investment Portfolio (DKK Billion), 2010-2014
Table 19: Danish Non-Life Insurance - Investment Portfolio (DKK Billion), 2014-2019
Table 20: Danish Non-Life Insurance - Direct Written Premium by Category (DKK Billion), 2010-2014
Table 21: Danish Non-Life Insurance - Direct Written Premium by Category (DKK Billion), 2014-2019
Table 22: Danish Property Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2010-2014
Table 23: Danish Property Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2014-2019
Table 24: Danish Property Insurance - Loss Ratio (%), 2010-2014
Table 25: Danish Property Insurance - Loss Ratio (%), 2014-2019
Table 26: Danish Motor Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2010-2014
Table 27: Danish Motor Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2014-2019
Table 28: Danish Motor Insurance - Loss Ratio (%), 2010-2014
Table 29: Danish Motor Insurance - Loss Ratio (%), 2014-2019
Table 30: Danish Liability Insurance - Direct Written Premium (DKK Billion), 2010-2014
Table 31: Danish Liability Insurance - Direct Written Premium (DKK Billion), 2014-2019
Table 32: Danish Liability Insurance - Loss Ratio (%), 2010-2014
Table 33: Danish Liability Insurance - Loss Ratio (%), 2014-2019
Table 34: Danish Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2010-2014
Table 35: Danish Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2014-2019
Table 36: Danish Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 37: Danish Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 38: List of Non-Life Insurance Brokers in Denmark, 2014
Table 39: List of Non-Life Insurance Brokers in Denmark, 2014
Table 40: List of Non-Life Insurance Brokers in Denmark, 2014
Table 41: Shares of Leading Insurers in the Danish Non-Life Insurance Segment (%), 2014
Table 42: Tryg Forsikring A/S, Key Facts
Table 43: Tryg Forsikring A/S, Key Financials (DKK Million), 2010-2014
Table 44: Codan Forsikring A/S, Key Facts
Table 45: Codan Forsikring A/S, Key Financials (DKK Million), 2010-2014
Table 46: Topdanmark Forsikring A/S, Key Facts
Table 47: Topdanmark Forsikring A/S, Key Financials (DKK Million), 2010-2014
Table 48: Alm. Brand Forsikring A/S, Key Facts
Table 49: Alm. Brand Forsikring A/S, Key Financials (DKK Million), 2010-2014
Table 50: LB Forsikring A/S, Key Facts
Table 51: LB Forsikring A/S, Key Financials (DKK Million), 2012-2014
Table 52: Denmark - Insurance Regulatory Framework Key Features
Table 53: Denmark - Life Insurance Regulatory Framework
Table 54: Denmark - Property Insurance Regulatory Framework
Table 55: Denmark - Motor Insurance Regulatory Framework
Table 56: Denmark - Liability Insurance Regulatory Framework
Table 57: Denmark - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft
Table 58: Denmark - Corporate Tax Rates for Financial Year 2015
Table 59: Danish Insurance Industry - Policies and Premium, 2010-2014
Table 60: Danish Insurance Industry - Policies and Premium, 2014-2019
Table 61: Danish Non-Life Insurance - Policies and Premium, 2010-2014
Table 62: Danish Non-Life Insurance - Policies and Premium, 2014-2019
Table 63: Danish Non-Life Insurance - Policies and Premium by Property Insurance, 2010-2014
Table 64: Danish Non-Life Insurance - Policies and Premium by Property Insurance, 2014-2019
Table 65: Danish Non-Life Insurance - Policies and Premium by Motor Insurance, 2010-2014
Table 66: Danish Non-Life Insurance - Policies and Premium by Motor Insurance, 2014-2019
Table 67: Danish Non-Life Insurance - Policies and Premium by Liability Insurance, 2010-2014
Table 68: Danish Non-Life Insurance - Policies and Premium by Liability Insurance, 2014-2019
Table 69: Danish Non-Life Insurance - Policies and Premium by Marine, Aviation and Transit Insurance, 2010-2014
Table 70: Danish Non-Life Insurance - Policies and Premium by Marine, Aviation and Transit Insurance, 2014-2019
Table 71: Danish Non-Life Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2010-2014
Table 72: Danish Non-Life Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2014-2019
Table 73: Danish Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 74: Danish Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 75: Insurance Industry Definitions
List of Figures
Figure 1: Danish Real GDP (DKK Billion), 2010-2019
Figure 2: Danish Consumer Price Inflation (%), 2010-2019
Figure 3: DKK/US$ Exchange Rate, 2010-2019
Figure 4: Danish Current Account Balance as a Percentage of GDP, 2010-2019
Figure 5: Danish Unemployment Rate (%), 2010-2019
Figure 6: Danish Population by Age Group, 1991-2025
Figure 7: Danish Non-Life Insurance Penetration - Regional Comparison, 2014
Figure 8: Danish Insurance Segments Direct Written Premium Share - Regional Comparison, 2014
Figure 9: Danish Non-Life Insurance - Gross Written Premium (DKK Billion), 2010-2019
Figure 10: Danish Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Danish Non-Life Insurance - Premium per Capita (DKK), 2010-2019
Figure 12: Danish Non-Life Insurance - Paid Claims (DKK Billion), 2010-2019
Figure 13: Danish Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Danish Non-Life Insurance - Total Assets (DKK Billion), 2010-2019
Figure 15: Danish Non-Life Insurance - Total Investment Income (DKK Billion), 2010-2019
Figure 16: Danish Non-Life Insurance - Investment Portfolio (DKK Billion), 2010-2019
Figure 17: Danish Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 18: Danish Non-Life Insurance - Direct Written Premium by Category (DKK Billion), 2010-2019
Figure 19: Danish Non-Life Insurance - Direct Written Premium Dynamics by Category, 2010-2019
Figure 20: Danish Construction - Output Value by Category (DKK Billion), 2010-2014
Figure 21: Danish Property Insurance - Leading Insurers' Shares (%), 2014
Figure 22: Danish Property Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2010-2019
Figure 23: Danish Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2010-2019
Figure 24: Danish Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 25: New Motor Vehicle Sales in Denmark, 2010-2014
Figure 26: Danish Motor Insurance - Leading Company Shares (%), 2014
Figure 27: Danish Motor Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2010-2019
Figure 28: Danish Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2010-2019
Figure 29: Danish Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 30: Danish Liability Insurance - Leading Company Shares (%), 2014
Figure 31: Danish Liability Insurance - Direct Written Premium (DKK Billion), 2010-2019
Figure 32: Danish Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 33: Danish Imports and Exports of Goods and Services (US$ Billion), 2010-2014
Figure 34: Danish Marine, Aviation and Transit Insurance - Leading Company Shares (%), 2014
Figure 35: Danish Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 36: Shares of Leading Insurers in the Danish Non-Life Insurance Segment (%), 2014
Figure 37: Denmark - The Three Pillars of Solvency II
Figure 38: Denmark - Insurance Supervision and Control at Various Levels
Figure 39: Denmark - Insurance Regulatory Frameworks for Company Registration and Operation
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