Personal Accident and Health Insurance in Denmark, Key Trends and Opportunities to 2020

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Date: 22-Feb-2017
No. of pages: 104
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Synopsis

Timetric's 'Personal Accident and Health Insurance in Denmark Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Danish personal accident and health insurance segment, and a comparison of the Danish insurance industry with its regional counterparts.

It provides 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 (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Danish economy and demographics, 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 'Personal Accident and Health Insurance in Denmark Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Danish personal accident and health insurance segment, including:


  • An overview of the Danish personal accident and health insurance segment

  • The Danish personal accident and health insurance segment's growth prospects by category

  • A comprehensive overview of the Danish economy and demographics

  • A comparison of the Danish personal accident and health insurance segment with its regional counterparts

  • The various distribution channels in the Danish personal accident and health insurance segment

  • Details of the competitive landscape in the personal accident and health insurance segment in Denmark

  • Details of regulatory policy applicable to the Danish insurance industry


Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Denmark:


  • It provides historical values for the Danish personal accident and health insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

  • It offers a detailed analysis of the key categories in the Danish personal accident and health insurance segment, and market forecasts to 2020.

  • It provides a comparison of the Danish personal accident and health insurance segment with its regional counterparts

  • It provides an overview of the various distribution channels for personal accident and health insurance products in Denmark.

  • It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Danish personal accident and health insurance segment.

  • Assess the competitive dynamics in the personal accident and health 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 health insurance is delivered in two forms: public and private.

  • People typically opt for private health insurance to cover treatments not provided by social benefits.

  • The personal accident and health segment's penetration in Denmark was the highest in Northern Europe, at 0.9% in 2015.

  • Bancassurance is an integral part of insurance distribution in Denmark, as many insurers are owned by banks or belong to the same groups.

Personal Accident and Health Insurance in Denmark, Key Trends and Opportunities to 2020

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 Gross written premium and penetration
4.2.2 Profitability
4.2.3 Assets and investments

5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Profitability
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Profitability

6 Distribution Channel Outlook

7 Competitive Landscape
7.1 Company Profiles
7.1.1 Tryg Forsikring A/S - company overview
7.1.2 Codan Forsikring A/S - company overview
7.1.3 Topdanmark Forsikring A/S - company overview
7.1.4 Alm. Brand Forsikring A/S - company overview
7.1.5 PFA Pension, forsikringsaktieselskab - company overview
7.1.6 Danica Pension, Livsforsikringsaktieselskab - company overview
7.1.7 Nordea Liv & Pension, livsforsikringsselskab A/S - company overview
7.1.8 PensionDanmark Pensionsforsikrings A/S - company overview
7.1.9 Sampension KP Livsforsikring A/S - company overview
7.1.10 Sygeforsikringen "Danmark", GS - company overview

8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Air carriers and aircraft operators liability insurance
8.4.3 Workmen's compensation insurance
8.4.4 Professional indemnity insurance for alternative investment fund managers
8.4.5 Third-party liability insurance for dogs
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 Federation of European Risk Management Associations
8.5.4 Danish Financial Supervisory Authority
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution

9 Databook
9.1 Policies and Premium
9.1.1 Claims and expenses
9.1.2 Assets and investments
9.1.3 Personal accident insurance
9.1.4 Health insurance
9.1.5 Travel insurance

10 Definitions and Methodology
10.1 Definitions
10.2 Methodology

11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables

Table 1: Danish Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Danish Personal Accident and Health Insurance - Top Insurers, 2015
Table 3: Danish Government Credit Ratings
Table 4: Danish Personal Accident and Health Insurance - Gross Written Premium (DKK Billion and US$ Billion), 2011-2015
Table 5: Danish Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 6: Danish Personal Accident and Health Insurance - Gross Written Premium (DKK Billion and US$ Billion), 2015-2020
Table 7: Danish Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 8: Danish Personal Accident and Health Insurance - Premium per Capita (DKK and US$), 2011-2015
Table 9: Danish Personal Accident and Health Insurance - Premium per Capita (DKK and US$), 2015-2020
Table 10: Danish Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 11: Danish Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 12: Danish Personal Accident and Health Insurance - Total Assets (DKK Billion and US$ Billion), 2011-2015
Table 13: Danish Personal Accident and Health Insurance - Total Assets (DKK Billion and US$ Billion), 2015-2020
Table 14: Danish Personal Accident and Health Insurance - Total Investment Income (DKK Billion and US$ Billion), 2011-2015
Table 15: Danish Personal Accident and Health Insurance - Total Investment Income (DKK Billion and US$ Billion), 2015-2020
Table 16: Danish Personal Accident and Health Insurance - Direct Written Premium by Category (DKK Billion),2011-2015
Table 17: Danish Personal Accident and Health Insurance - Direct Written Premium by Category (DKK Billion), 2015-2020
Table 18: Danish Personal Accident Insurance - Direct Written Premium (DKK Billion and US$ Billion), 2011-2015
Table 19: Danish Personal Accident Insurance - Direct Written Premium (DKK Billion and US$ Billion), 2015-2020
Table 20: Danish Personal Accident Insurance - Loss Ratio (%), 2011-2015
Table 21: Danish Personal Accident Insurance - Loss Ratio (%), 2015-2020
Table 22: Danish Health Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2011-2015
Table 23: Danish Health Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2015-2020
Table 24: Danish Health Insurance - Loss Ratio (%), 2011-2015
Table 25: Danish Health Insurance - Loss Ratio (%), 2015-2020
Table 26: Danish Travel Insurance - Direct Written Premium (DKK Million), 2011-2015
Table 27: Danish Travel Insurance - Direct Written Premium (DKK Billion), 2015-2020
Table 28: Danish Travel Insurance - Loss Ratio (%), 2011-2015
Table 29: Danish Travel Insurance - Loss Ratio (%), 2015-2020
Table 30: Danish Personal Accident and Health Insurance - Leading Insurers, 2015
Table 31: Tryg Forsikring A/S - Key Facts
Table 32: Codan Forsikring A/S - Key Facts
Table 33: Topdanmark Forsikring A/S - Key Facts
Table 34: Topdanmark Forsikring A/S - Key Facts
Table 35: PFA Pension - Key Facts
Table 36: Danica Pension - Key Facts
Table 37: Nordea Liv & Pension - Key Facts
Table 38: PensionDanmark - Key Facts
Table 39: Sampension KP - Key Facts
Table 40: Sygeforsikringen - Key Facts
Table 41: Denmark - Insurance Regulatory Framework Key Features
Table 42: Denmark - Life Insurance Regulatory Framework
Table 43: Denmark - Property Insurance Regulatory Framework
Table 44: Denmark- Motor Insurance Regulatory Framework
Table 45: Denmark - Liability Insurance Regulatory Framework
Table 46: Denmark - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft
Table 47: Denmark - Corporate Tax Rates for the Financial Year 2017
Table 48: Danish Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 49: Danish Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 50: Danish Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 51: Danish Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 52: Danish Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 53: Danish Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 54: Danish Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 55: Danish Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 56: Danish Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 57: Danish Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 58: Danish Personal Accident and Health Insurance - Travel Insurance, 2011-2015
Table 59: Danish Personal Accident and Health Insurance - Travel Insurance, 2015-2020
Table 60: Insurance Industry Definitions

List of Figures

Figure 1: Danish Real GDP (DKK Trillion), 2011-2020
Figure 2: Danish Consumer Price Inflation (%), 2011-2020
Figure 3: Danish Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 4: Danish Unemployment Rate, 2011-2020
Figure 5: Danish Population by Age Group, 1990-2025
Figure 6: Danish Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Danish Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Danish Personal Accident and Health Insurance - Gross Written Premium (DKK Billion), 2011-2020
Figure 9: Danish Personal Accident and Health Insurance - Penetration (%), 2011-2020
Figure 10: Danish Personal Accident and Health Insurance - Premium per Capita (DKK), 2011-2020
Figure 11: Danish Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2020
Figure 12: Danish Personal Accident and Health Insurance - Total Assets (DKK Billion), 2011-2020
Figure 13: Danish Personal Accident and Health Insurance - Total Investment Income (DKK Billion), 2011-2020
Figure 14: Danish Personal Accident and Health Insurance - Direct Written Premium by Category (DKK Billion), 2011-2020
Figure 15: Danish Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 16: Danish Personal Accident Insurance - Direct Written Premium (DKK Billion), 2011-2020
Figure 17: Danish Personal Accident Insurance - Earned Premium, Incurred Loss and Loss Ratio (DKK Billion and %), 2011-2020
Figure 18: Danish Health Insurance - Direct Written Premium by Sub-Category (DKK Billion), 2011-2020
Figure 19: Danish Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (DKK Billion and %), 2011-2020
Figure 20: Danish Travel Insurance - Direct Written Premium (DKK Billion), 2011-2020
Figure 21: Danish Travel Insurance - Earned Premium, Incurred Loss and Loss Ratio (DKK Billion and %), 2011-2020
Figure 22: Denmark - The Three Pillars of Solvency II
Figure 23: Denmark - Insurance Supervision and Control at Various Levels
Figure 24: Denmark - Insurance Regulatory Frameworks for Company Registration and Operation

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