Latvia Life Insurance Market Growth prospects to 2017

Life Insurance in Latvia, Key Trends and Opportunities to 2017: Order report by calling marketreportsstore.com at +1 888 391 5441 OR send an email on sales@marketreportsstore.com  with Life Insurance in Latvia, Key Trends and Opportunities to 2017 in subject line and your contact details.

Synopsis

The report provides in-depth market analysis, information and insights into the Latvian life insurance segment, including:

·         The Latvian life insurance segment's growth prospects by life insurance categories

·         Key trends and drivers for the life insurance segment

·         The various distribution channels in the Latvian life insurance segment

·         The detailed competitive landscape in the life insurance segment in Latvia

·         Detailed regulatory policies of the Latvian insurance industry

·         A description of the life reinsurance segment in Latvia

·         Porter's Five Forces analysis of the life insurance segment

·         A benchmarking section on the Latvian life insurance segment in comparison with other countries in the Central and Eastern European region

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Summary

During the review period (2008-2012), Latvia's insurance industry was affected by the global financial crisis. The overall insurance industry in Latvia recorded a decline in written premium at a review-period compound annual growth rate (CAGR) of 3.1%. The life insurance segment registered a positive CAGR of 6.8% during the review period . This was due to growth in private consumption, investments and exports. Life insurance is expected to benefit from an increase in the Latvian population's disposable income and growth in life expectancy over the forecast period. The growing economy is anticipated to have a positive impact on the segment by creating favorable economic conditions for growth. The Latvian life segment is expected to grow at a CAGR of 11.6% over the forecast period (2012-2017).

Scope

This report provides a comprehensive analysis of the life insurance segment in Latvia:

·         It provides historical values for the Latvian life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.

·         It offers a detailed analysis of the key categories in the Latvian life insurance segment, along with market forecasts until 2017.

·         It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.

·         It analyses the various distribution channels for life insurance products in Latvia.

·         Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Latvia for the life insurance business.

·         It provides a detailed analysis of the reinsurance segment in Latvia and its growth prospects.

·         It profiles the top life insurance companies in Latvia and outlines the key regulations affecting them.

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Reasons To Buy

·         Make strategic business decisions using in depth historic and forecast market data related to the Latvian life insurance segment and each category within it

·         Understand the demand-side dynamics, key market trends and growth opportunities within the Latvian life insurance segment

·         Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment

·         Identify the growth opportunities and market dynamics within key product categories

·         Gain insights into key regulations governing the Latvian insurance industry and its impact on companies and the market's future

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Key Highlights

·         The endowment category led the life segment with 62.5% of the segment's total written premium in 2012.

·         The life segment is expected to adopt better practices as major foreign insurers such as Swedbank Life, SEB Life, Sampo Group's Mandatum Life and SEB Life establish presences.

·         Latvia's growing economy is anticipated to positively impact the life segment as private consumption, investments and exports increase.

·         The segment is expected to benefit from an increase in disposable income and life expectancy, although falling employment and a declining population will limit growth in the segment.

·         At the end of 2012, a total of nine domestic companies operated in the Latvian insurance industry, of which two were life insurers and the remaining seven were involved in non-life business.

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