Portugal Insurance Market Outlook to 2015

Date: March 22, 2011
Pages: 46
Price:
US$ 675.00
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Publisher: Ken Research Private Ltd
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Hard Copy Mail Delivery
ID: PD9BA7CE569EN
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Portugal Insurance Market Outlook to 2015
Executive Summary

The Report titled “Portugal Insurance Market Outlook to 2015” provides an in-depth analysis of the Portugal insurance industry. The report covers specific insights on the market size, insurance density, insurance penetration, segmentation and future outlook of the insurance industry in Portugal. The report also entails the market size on the basis of gross insurance premium written in case of life and non-life insurance and market share of various companies at the country level. Overall, the report offers a comprehensive analysis of the entire Portugal insurance industry.

Portugal is the 12th largest life insurance market and 14th largest non-life insurance market in Europe with gross insurance premium of USD 16,147 million and USD ~ million in 2010 respectively. The market has shown great recovery in 2010 from the economic crisis of 2009; however there are still several issues to be dealt with. With approximately 84 insurers operating in the country along with the employment level of 11,207 people in the sector in 2009, the market is poised to witness growth in the future.

The insurance market in Portugal is dominated by the life insurance segment which accounted for 74.5% of the gross insurance premium in 2010. Motor is the largest non-life insurance segment accounting for 40.1% of the market share in the non-life insurance market.

Bancassurance distribution channel dominates the life insurance market contributing approximately 81.6% of the writings, while non-life insurance market is dominated by agents which accounted for 60.7% of the gross insurance premium writings.

In terms of premium, life insurance contributed USD ~ million in 2010. Motor insurance being the second largest sector contributed with a premium of USD ~ million, followed by the contribution of fire and other property damage and health with USD ~ million and USD ~ million respectively.

Life assurance is the largest segment by insurance class with a share of 78.9% contributing a premium of USD ~ million in 2010. Unit-linked is another major segment with a premium contribution of USD ~ million, accounting for ~ % of the market.

The top five players in Portugal insurance industry comprised of nearly 50% of the market. The largest player in the region with a share of ~ % is Fidelity-Global. The second largest player in the region is Bonanca with a market share of ~ %. With a share of ~ %, AXA Insurance is the third largest player operating in the region contributing gross insurance premium of USD ~ million in 2010.

Motor insurance in Portugal grew at a CAGR of 3.8% during 2001-2010. The maximum increase in growth was registered in the year 2003, where the growth registered was 23.0%. The premium increased from USD 1,588 million in 2001 to USD ~ million in 2010. By 2015, motor insurance is likely to increase at a CAGR of ~ % during the period from 2010-2015. The premium is set to increase from USD ~ million in 2010 to USD ~ million in 2015.

Total insurers investment portfolio increased from USD 20,073 million in 2001 to USD 80,631 million in 2009. The investment portfolio increased throughout the historical period at a CAGR of 19.0%. The proportion of life insurers’ portfolio has increased throughout the historical period. The proportion has increased from 78.8% in 2001 to ~ % in 2009. In terms of value, it increased from USD 15,820 million in 2001 to USD ~ million in 2009. Although the share of non-life has decreased in the investment portfolio, the market has registered an incline from USD 4,253 million in 2001 to USD ~ million in 2009.

Scope of Research

The report will entail thorough analysis and offers valuable insights on the insurance industry in the Portugal. The scope of the report includes:
  • The market size of life and non-life insurance industry in terms of gross insurance premium written for Portugal, 2001 to 2015
  • Life and Non-life insurance density in USD for Portugal, 2001 to 2015
  • Life and Non-life insurance penetration, premium as a percentage of GDP for the country, 2001 to 2015
  • Market segmentation on the basis of Product in Portugal, 2009 and 2015
  • Non-life insurance market segmentation by motor, health, property on the basis of gross insurance premium written, historical and projections.
  • Competitive Landscape of the major life insurers in Portugal on the basis of gross premium written
  • Competitive Landscape of the major non-life insurers in Portugal on the basis of gross premium written
  • Valuable Insights and Future Outlook of the insurance industry in Portugal.
1. PORTUGAL INSURANCE MARKET INTRODUCTION

2. PORTUGAL INSURANCE MARKET STRUCTURE

2.1. Number of Insurance Companies in Portugal, 2001-2009
2.2. Headcount in Portugal Insurance Sector, 2001-2009

3. PORTUGAL LIFE AND NON-LIFE INSURANCE MARKET SIZE BY VALUE, 2001-2015

4. PORTUGAL LIFE AND NON-LIFE INSURANCE DENSITY, PREMIUM PER CAPITA, USD, 2001-2015

5. PORTUGAL LIFE AND NON-LIFE INSURANCE PENETRATION, PREMIUM AS A % OF GDP, 2001-2015

6. PORTUGAL INSURANCE MARKET SEGMENTATION BY PRODUCT, 2010 AND 2015

6.1. Portugal Life Insurance Market
  6.1.1. Portugal Life Insurance Market Segmentation by Insurance Class, 2010
  6.1.2. Portugal Life Insurance Competitive Landscape, 2010
6.2. Portugal Non-Life Insurance Market
  6.2.1. Portugal Non-Life Insurance Market Segmentation by Insurance Class, 2010
  6.2.2. Portugal Non-Life Insurance Competitive Landscape, 2010
6.3. Portugal Motor Insurance Market
  6.3.1. Portugal Motor Insurance Market Size by Value, 2001-2015
  6.3.2. Number of Vehicles Insured and Average Premium per Insured Vehicles, 2006-2009
  6.3.3. Portugal Motor Insurance Competitive Landscape, 2010
6.4. Portugal Health Insurance Market
  6.4.1. Portugal Health Insurance Market Size by Value, 2001-2015
  6.4.2. Portugal Health Insurance Competitive Landscape, 2010
6.5. Portugal Fire & Other Property Damage Insurance Market
  6.5.1. Portugal Fire & Other Property Damage Insurance Market Size by Value, 2001-2015
  6.5.2. Portugal Fire & Other Property Damage Insurance Competitive Landscape, 2010
6.6. Portugal Other Non-Life Insurance Market
  6.6.1. Portugal Other Non-Life Insurance Market Size by Value, 2001-2015
  6.6.2. Portugal Other Non-Life Insurance Market Segmentation by Insurance Class, 2010

7. PORTUGAL LIFE AND NON-LIFE INSURERS’ INVESTMENT PORTFOLIO, USD MILLION, 2001-2009

8. PORTUGAL INSURANCE PREMIUM SEGMENTATION ON THE BASIS OF DISTRIBUTION CHANNEL, IN PERCENTAGE, 2008

8.1. Portugal Life Insurance Premium Segmentation on the Basis of Distribution Channel, in Percentage, 2008
8.2. Portugal Non-Life Insurance Premium Segmentation on the Basis of Distribution Channel, in Percentage, 2008

9. PORTUGAL INSURANCE MARKET FUTURE OUTLOOK

10. APPENDIX

10.1. Market Definition
10.2. Abbreviations
10.3. Disclaimer

LIST OF FIGURES

Figure 1: The Total Number of Insurance Companies in Portugal, 2001-2009
Figure 2: The Total Number of Employees in the Insurance Sector in Portugal, 2001-2009
Figure 3: Portugal Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 4: Portugal Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Figure 5: Portugal Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Figure 6: Portugal Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2010
Figure 7: Portugal Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2015
Figure 8: Market Segmentation of Life Insurance Premium by Insurance Class, in Percentage, 2010
Figure 9: Portugal Market Share of Major Life Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2010
Figure 10: Portugal Market Share of Major Non-Life Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2010
Figure 11: Portugal Motor Insurance Market Size in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 12: Number of Vehicles Insured in Million with Average Premium per Insured Vehicle in USD, 2006-2009
Figure 13: Portugal Market Share of Major Motor Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2010
Figure 14: Portugal Health Insurance Market Size in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 15: Portugal Market Share of Major Health Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2010
Figure 16: Portugal Fire & Other Property Damage Insurance Market Size in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 17: Portugal Market Share of Major Fire & Other Property Damage Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2010
Figure 18: Portugal Other Non-Life Insurance Market Size by Value, on the Basis of Gross Insurance Premium Written, in USD Million, 2001-2015
Figure 19: Portugal Other Non-Life Insurance Market Segmentation by Insurance Class on the basis of Gross Insurance Premium, in Percentage, 2010
Figure 20: Portugal Life and Non-Life Insurers’ Investment Portfolio, in USD Million, 2001-2009
Figure 21: Portugal Life Insurance Premium Segmentation on the Basis of Distribution Channel, in Percentage, 2008
Figure 22: Portugal Non-Life Insurance Premium Segmentation on the Basis of Distribution Channel, in Percentage, 2008

LIST OF TABLES

Table 1: The Total Number of Insurance Companies in Portugal, 2001-2009
Table 2: The Total Number of Employees in the Insurance Sector in Portugal, 2001-2009
Table 3: Portugal Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 4: Portugal Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Table 5: Portugal Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Table 6: Composition of Life insurance by Class on the basis of Gross Insurance Premium Written, in USD Million, 2010
Table 7: Portugal Market Share of Major Life Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2010
Table 8: Composition of Non-Life Insurance premium by Insurance Class on the Basis of Gross Insurance Premium, in USD Million, 2010
Table 9: Portugal Market Share of Major Non-Life Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2010
Table 10: Portugal Motor Insurance Market Size in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 11: Portugal Market Share of Major Motor Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2010
Table 12: Portugal Health Insurance Market Size in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 13: Portugal Market Share of Major Health Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2010
Table 14: Portugal Fire & Other Property Damage Insurance Market Size in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 15: Portugal Market Share of Major Fire & Other Property Damage Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2010
Table 16: Portugal Other Non-Life Insurance Market Size by Value, on the Basis of Gross Insurance Premium Written, in USD Million, 2001-2015
Table 17: Portugal Life and Non-Life Insurers’ Investment Portfolio, in USD Million, 2001-2009
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