Non-Life Insurance in Norway
Non-Life Insurance in Norway
Summary
Non-Life Insurance in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
Summary
Non-Life Insurance in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Norwegian non-life insurance market recorded written premiums of $9.7 billion in 2023, representing a compound annual growth rate (CAGR) of 2.7% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $3.0 billion, equivalent to 30.9% of the market's overall value.
- Rising inflation pressured the Norwegian non-life insurance market by increasing costs for both insurers and consumers. Eurostat reports that Norway’s consumer price inflation of health reached 3.8% in 2023, up from 2.5% from the previous year. This elevated the cost of premiums and claims, discouraging new policy purchases and renewals, thereby dampening overall market growth.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the non-life insurance market in Norway
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Norway
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Norway non-life insurance market with five year forecasts
- What was the size of the Norway non-life insurance market by value in 2023?
- What will be the size of the Norway non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Norway non-life insurance market?
- How has the market performed over the last five years?
- How large is Norway’s non-life insurance market in relation to its regional counterparts?
1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What are the strategies of the leading players?
7.4. What are the strengths of the leading players?
8 COMPANY PROFILES
8.1. Gjensidige Forsikring ASA
8.2. DNB Bank ASA
8.3. If Skadeforsikring NUF
8.4. Tryg Forsikring A/S
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What are the strategies of the leading players?
7.4. What are the strengths of the leading players?
8 COMPANY PROFILES
8.1. Gjensidige Forsikring ASA
8.2. DNB Bank ASA
8.3. If Skadeforsikring NUF
8.4. Tryg Forsikring A/S
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
LIST OF TABLES
Table 1: Norway non-life insurance market value: $ billion, 2018-23
Table 2: Norway non-life insurance market category segmentation: % share, by value, 2018-23
Table 3: Norway non-life insurance market category segmentation: $ billion, 2018-23
Table 4: Norway non-life insurance market geography segmentation: $ billion, 2023
Table 5: Norway non-life insurance market value forecast: $ billion, 2023-28
Table 6: Norway non-life insurance market share: % share, by value, 2023
Table 7: Gjensidige Forsikring ASA: Key Facts
Table 8: Gjensidige Forsikring ASA: Annual Financial Ratios
Table 9: Gjensidige Forsikring ASA: Key Employees
Table 10: DNB Bank ASA: Key Facts
Table 11: DNB Bank ASA: Annual Financial Ratios
Table 12: DNB Bank ASA: Key Employees
Table 13: If Skadeforsikring NUF: Key Facts
Table 14: If Skadeforsikring NUF: Key Employees
Table 15: Tryg Forsikring A/S: Key Facts
Table 16: Tryg Forsikring A/S: Key Employees
Table 17: Norway Size of Population (million), 2019-23
Table 18: Norway Real GDP (Constant 2010 Prices, $ Billion), 2019-23
Table 19: Norway GDP (Current Prices, $ Billion), 2019-23
Table 20: Norway Inflation, 2019-23
Table 21: Norway Consumer Price Index (Absolute), 2019-23
Table 22: Norway Exchange Rate, 2018-23
Table 1: Norway non-life insurance market value: $ billion, 2018-23
Table 2: Norway non-life insurance market category segmentation: % share, by value, 2018-23
Table 3: Norway non-life insurance market category segmentation: $ billion, 2018-23
Table 4: Norway non-life insurance market geography segmentation: $ billion, 2023
Table 5: Norway non-life insurance market value forecast: $ billion, 2023-28
Table 6: Norway non-life insurance market share: % share, by value, 2023
Table 7: Gjensidige Forsikring ASA: Key Facts
Table 8: Gjensidige Forsikring ASA: Annual Financial Ratios
Table 9: Gjensidige Forsikring ASA: Key Employees
Table 10: DNB Bank ASA: Key Facts
Table 11: DNB Bank ASA: Annual Financial Ratios
Table 12: DNB Bank ASA: Key Employees
Table 13: If Skadeforsikring NUF: Key Facts
Table 14: If Skadeforsikring NUF: Key Employees
Table 15: Tryg Forsikring A/S: Key Facts
Table 16: Tryg Forsikring A/S: Key Employees
Table 17: Norway Size of Population (million), 2019-23
Table 18: Norway Real GDP (Constant 2010 Prices, $ Billion), 2019-23
Table 19: Norway GDP (Current Prices, $ Billion), 2019-23
Table 20: Norway Inflation, 2019-23
Table 21: Norway Consumer Price Index (Absolute), 2019-23
Table 22: Norway Exchange Rate, 2018-23
LIST OF FIGURES
Figure 1: Norway non-life insurance market value: $ billion, 2018-23
Figure 2: Norway non-life insurance market category segmentation: $ billion, 2018-23
Figure 3: Norway non-life insurance market geography segmentation: % share, by value, 2023
Figure 4: Norway non-life insurance market value forecast: $ billion, 2023-28
Figure 5: Forces driving competition in the non-life insurance market in Norway, 2023
Figure 6: Drivers of buyer power in the non-life insurance market in Norway, 2023
Figure 7: Drivers of supplier power in the non-life insurance market in Norway, 2023
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Norway, 2023
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Norway, 2023
Figure 10: Drivers of degree of rivalry in the non-life insurance market in Norway, 2023
Figure 11: Norway non-life insurance market share: % share, by value, 2023
Figure 1: Norway non-life insurance market value: $ billion, 2018-23
Figure 2: Norway non-life insurance market category segmentation: $ billion, 2018-23
Figure 3: Norway non-life insurance market geography segmentation: % share, by value, 2023
Figure 4: Norway non-life insurance market value forecast: $ billion, 2023-28
Figure 5: Forces driving competition in the non-life insurance market in Norway, 2023
Figure 6: Drivers of buyer power in the non-life insurance market in Norway, 2023
Figure 7: Drivers of supplier power in the non-life insurance market in Norway, 2023
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Norway, 2023
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Norway, 2023
Figure 10: Drivers of degree of rivalry in the non-life insurance market in Norway, 2023
Figure 11: Norway non-life insurance market share: % share, by value, 2023
