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The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022

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Details

The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022

Summary

GlobalData's 'The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022' report provides detailed analysis of the market trends, drivers and challenges in the Liechtensteiner insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Liechtensteiner economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData'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.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

The report provides in-depth market analysis, information and insights into the Liechtensteiner insurance industry, including-

- The Liechtensteiner insurance industry's growth prospects by segment and category

- A comprehensive overview of the Liechtensteiner economy and demographics

- Details of the competitive landscape in the Liechtensteiner insurance industry

- The various distribution channels in the Liechtensteiner insurance industry

- Details of regulatory policy applicable to the Liechtensteiner insurance industry

- Analysis of natural hazards in the Liechtensteiner insurance industry

Key Highlights

- In 2017, the Liechtenstein Health Insurance Association announced an increase in compulsory health insurance premiums by an average of 0.6% in 2018.

- In 2017, the FMA managed and guided 64 insurance intermediaries, comprising 53 insurance brokers and 11 agents operating in the country.

- In 2017, 35 insurers were operating in Liechtenstein's insurance industry, which includes 20 life insurance, 15 general insurers and three reinsurers.

Scope

- This report provides a comprehensive analysis of the insurance industry in Liechtenstein.

- It provides historical values for the Liechtensteiner insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

- It offers a detailed analysis of the key segments in the Liechtensteiner insurance industry, with market forecasts to 2022.

- It covers an exhaustive list of parameters, including written premium and claims.

- It analyzes the various distribution channels in Liechtenstein.

- It profiles the top insurance companies in Liechtenstein, 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 Liechtensteiner insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Liechtensteiner insurance industry.

- Assess the competitive dynamics in the Liechtensteiner insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Liechtensteiner insurance industry and their impact on companies and the industry's future.

READ MORE

Table Of Content

Scope

Table of Contents

1 KEY FACTS AND HIGHLIGHTS 2

2 EXECUTIVE SUMMARY 3

3 ECONOMY AND DEMOGRAPHICS 9

4 INDUSTRY OUTLOOK 11

4.1 Industry Indicators 13

4.1.1 Gross written premium 13

4.1.2 Insurance density 14

5 LIFE INSURANCE OUTLOOK 15

5.1 Segment Indicators 15

5.1.1 Gross written premium 15

5.1.2 Penetration 16

6 GENERAL INSURANCE OUTLOOK 17

6.1 Segment Indicators 17

6.1.1 Gross written premium 17

6.1.2 Penetration 18

7 REINSURANCE OUTLOOK 19

7.1 Reinsurance Accepted 20

8 DISTRIBUTION CHANNEL OUTLOOK 21

9 NATURAL AND MAN-MADE HAZARDS 22

9.1 Earthquakes 22

9.2 Exposure 22

10 COMPETITIVE LANDSCAPE 23

10.1 Company Profiles 24

10.1.1 Allianz Risk Transfer AG-company overview 24

10.1.2 ElipsLife AG-company overview 24

10.1.3 Nucleus Life AG-company overview 25

10.1.4 Quantum Leben AG-company overview 25

10.1.5 Baloise Life (Liechtenstein) AG-company overview 26

11 GOVERNANCE, RISK AND COMPLIANCE 27

11.1 Legislation Overview and Historical Evolution 28

11.2 Latest Changes in Regulation 29

11.3 Legislation and Market Practice by Type of Insurance 44

11.3.1 Life insurance 44

11.3.2 Property insurance 45

11.3.3 Motor insurance 46

11.3.4 Liability insurance 48

11.3.5 Marine, aviation and transit insurance 49

11.3.6 Personal accident and health insurance 49

11.4 Compulsory Insurance 51

11.4.1 Social security system 51

11.4.2 Motor third-party liability insurance 52

11.4.3 Professional indemnity insurance for intermediaries 53

11.4.4 Buildings insurance against risks of occurrence of fire and natural disasters 53

11.4.5 Professional indemnity insurance for alternative investment fund managers 53

11.5 Supervision and Control 54

11.5.1 International Association of Insurance Supervisors 54

11.5.2 European Insurance and Occupational Pensions Authority 55

11.5.3 Financial Market Authority 55

11.6 Non-Admitted Insurance Regulations 56

11.6.1 Overview 56

11.6.2 Intermediaries 56

11.6.3 Market practices 57

11.6.4 Fines and Penalties 57

11.7 Company Registration and Operations 58

11.7.1 Type of insurance organization 59

11.7.2 Establishing a local company 59

11.7.3 Foreign ownership 60

11.7.4 Types of license 61

11.7.5 Capital requirements 62

11.7.6 Solvency margin 63

11.7.7 Reserve requirements 65

11.7.8 Investment regulations 65

11.7.9 Statutory return requirements 66

11.7.10 Fee structure 67

11.8 Taxation 68

11.8.1 Insurance premium or policy taxation 68

11.8.2 Withholding taxes on premium paid overseas 68

11.8.3 Corporate tax 68

11.8.4 VAT 69

11.8.5 Captives 69

11.9 Legal System 70

11.9.1 Introduction 70

11.9.2 Access to court 70

11.9.3 Alternative dispute resolution 71

12 DATABOOK 72

12.1 Life Insurance 72

12.1.1 Policies and premium 72

12.2 General Insurance 73

12.2.1 Policies and premium 73

13 DEFINITIONS AND METHODOLOGY 74

13.1 Definitions 74

13.2 Methodology 76

14 ABOUT GLOBALDATA 78

14.1 Contact GlobalData 78

14.2 About GlobalData 78

14.3 GlobalData's Services 79

14.4 Disclaimer 80


List Of Figure

List of Figures

Figure 1: Liechtensteiner Exchange Rate (CHF per USD ), 2013-2022 10

Figure 2: Liechtensteiner Insurance Industry-Gross Written Premium (CHF Billion), 2013-2022 13

Figure 3: Liechtensteiner Insurance Industry-Density (CHF), 2013-2022 14

Figure 4: Liechtensteiner Life Insurance-Gross Written Premium (CHF Billion), 2013-2022 15

Figure 5: Liechtensteiner Life Insurance-Penetration (%), 2013-2017 16

Figure 6: Liechtensteiner Life Insurance-Penetration (%), 2017-2022 16

Figure 7: Liechtensteiner General Insurance-Gross Written Premium (CHF Billion), 2013-2022 17

Figure 8: Liechtensteiner General Insurance-Penetration (%), 2013-2017 18

Figure 9: Liechtensteiner General Insurance-Penetration (%), 2017-2022 18

Figure 10: Liechtensteiner Reinsurance-Premium Accepted (CHF Million), 2013-2022 20

Figure 11: Liechtenstein-The Three Pillars of Solvency II 36

Figure 12: Liechtenstein-Insurance Supervision and Control at Various Levels 54

Figure 13: Liechtenstein-Insurance Regulatory Frameworks for Company Registration and Operation 58


List Of Table

List of Tables

Table 1: Liechtensteiner Insurance Industry-Key Facts, 2017 2

Table 2: Liechtensteiner Insurance Industry-Leading Insurers, 2017 2

Table 3: Liechtensteiner Government Credit Ratings 10

Table 4: Liechtensteiner Insurance Industry-Gross Written Premium (CHF Billion and USD Billion), 2013-2017 13

Table 5: Liechtensteiner Insurance Industry-Gross Written Premium (CHF Billion and USD Billion), 2017-2022 13

Table 6: Liechtensteiner Insurance Industry-Density (CHF), 2013-2017 14

Table 7: Liechtensteiner Insurance Industry-Density (CHF), 2017-2022 14

Table 8: Liechtensteiner Life Insurance-Gross Written Premium (CHF Billion and USD Billion), 2013-2017 15

Table 9: Liechtensteiner Life Insurance-Gross Written Premium (CHF Billion and USD Billion), 2017-2022 15

Table 10: Liechtensteiner General Insurance-Gross Written Premium (CHF Billion and USD Billion), 2013-2017 17

Table 11: Liechtensteiner General Insurance-Gross Written Premium (CHF Billion and USD Billion), 2017-2022 17

Table 12: Liechtensteiner Reinsurance-Premium Accepted (CHF Million and USD Million), 2013-2017 20

Table 13: Liechtensteiner Reinsurance-Premium Accepted (CHF Million and USD Million), 2017-2022 20

Table 14: Liechtensteiner registered insurance intermediaries, 2013-2017 21

Table 15: Allianz Risk Transfer AG-Key Facts 24

Table 16: ElipsLife AG-Key Facts 24

Table 17: Nucleus Life AG-Key Facts 25

Table 18: Quantum Leben AG-Key Facts 25

Table 19: Baloise Life (Liechtenstein) AG-Key Facts 26

Table 20: Liechtenstein-Insurance Regulatory Framework Key Features 27

Table 21: Liechtenstein-Life Insurance Regulatory Framework 44

Table 22: Liechtenstein-Property Insurance Regulatory Framework 45

Table 23: Liechtenstein-Motor Insurance Regulatory Framework 46

Table 24: Liechtenstein-Liability Insurance Regulatory Framework 48

Table 25: Liechtenstein-Corporate Tax Rates for the Financial Year 2018 69

Table 26: Liechtensteiner Life Insurance-Policies and Premium, 2013-2017 72

Table 27: Liechtensteiner Life Insurance-Policies and Premium, 2017-2022 72

Table 28: Liechtensteiner General Insurance-Policies and Premium, 2013-2017 73

Table 29: Liechtensteiner General Insurance-Policies and Premium, 2017-2022 73

Table 30: Insurance Industry Definitions 74

Licence Rights

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Section Purchase

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS

Products and Companies

Products

Liechtensteiner insurance industry, Life insurance, General insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Travel insurance, Health insurance, Reinsurance


Companies

Valorlife Life Insurance Ltd

ElipsLife AG

Nucleus Life AG

Quantum Leben AG

Baloise Life (Liechtenstein) AG

Company Profile

Company Profile Title

The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022

Summary

GlobalData's 'The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2022' report provides detailed analysis of the market trends, drivers and challenges in the Liechtensteiner insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Liechtensteiner economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData'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.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

The report provides in-depth market analysis, information and insights into the Liechtensteiner insurance industry, including-

- The Liechtensteiner insurance industry's growth prospects by segment and category

- A comprehensive overview of the Liechtensteiner economy and demographics

- Details of the competitive landscape in the Liechtensteiner insurance industry

- The various distribution channels in the Liechtensteiner insurance industry

- Details of regulatory policy applicable to the Liechtensteiner insurance industry

- Analysis of natural hazards in the Liechtensteiner insurance industry

Key Highlights

- In 2017, the Liechtenstein Health Insurance Association announced an increase in compulsory health insurance premiums by an average of 0.6% in 2018.

- In 2017, the FMA managed and guided 64 insurance intermediaries, comprising 53 insurance brokers and 11 agents operating in the country.

- In 2017, 35 insurers were operating in Liechtenstein's insurance industry, which includes 20 life insurance, 15 general insurers and three reinsurers.

Scope

- This report provides a comprehensive analysis of the insurance industry in Liechtenstein.

- It provides historical values for the Liechtensteiner insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

- It offers a detailed analysis of the key segments in the Liechtensteiner insurance industry, with market forecasts to 2022.

- It covers an exhaustive list of parameters, including written premium and claims.

- It analyzes the various distribution channels in Liechtenstein.

- It profiles the top insurance companies in Liechtenstein, 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 Liechtensteiner insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Liechtensteiner insurance industry.

- Assess the competitive dynamics in the Liechtensteiner insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Liechtensteiner insurance industry and their impact on companies and the industry's future.

READ MORE

Scope

Table of Contents

1 KEY FACTS AND HIGHLIGHTS 2

2 EXECUTIVE SUMMARY 3

3 ECONOMY AND DEMOGRAPHICS 9

4 INDUSTRY OUTLOOK 11

4.1 Industry Indicators 13

4.1.1 Gross written premium 13

4.1.2 Insurance density 14

5 LIFE INSURANCE OUTLOOK 15

5.1 Segment Indicators 15

5.1.1 Gross written premium 15

5.1.2 Penetration 16

6 GENERAL INSURANCE OUTLOOK 17

6.1 Segment Indicators 17

6.1.1 Gross written premium 17

6.1.2 Penetration 18

7 REINSURANCE OUTLOOK 19

7.1 Reinsurance Accepted 20

8 DISTRIBUTION CHANNEL OUTLOOK 21

9 NATURAL AND MAN-MADE HAZARDS 22

9.1 Earthquakes 22

9.2 Exposure 22

10 COMPETITIVE LANDSCAPE 23

10.1 Company Profiles 24

10.1.1 Allianz Risk Transfer AG-company overview 24

10.1.2 ElipsLife AG-company overview 24

10.1.3 Nucleus Life AG-company overview 25

10.1.4 Quantum Leben AG-company overview 25

10.1.5 Baloise Life (Liechtenstein) AG-company overview 26

11 GOVERNANCE, RISK AND COMPLIANCE 27

11.1 Legislation Overview and Historical Evolution 28

11.2 Latest Changes in Regulation 29

11.3 Legislation and Market Practice by Type of Insurance 44

11.3.1 Life insurance 44

11.3.2 Property insurance 45

11.3.3 Motor insurance 46

11.3.4 Liability insurance 48

11.3.5 Marine, aviation and transit insurance 49

11.3.6 Personal accident and health insurance 49

11.4 Compulsory Insurance 51

11.4.1 Social security system 51

11.4.2 Motor third-party liability insurance 52

11.4.3 Professional indemnity insurance for intermediaries 53

11.4.4 Buildings insurance against risks of occurrence of fire and natural disasters 53

11.4.5 Professional indemnity insurance for alternative investment fund managers 53

11.5 Supervision and Control 54

11.5.1 International Association of Insurance Supervisors 54

11.5.2 European Insurance and Occupational Pensions Authority 55

11.5.3 Financial Market Authority 55

11.6 Non-Admitted Insurance Regulations 56

11.6.1 Overview 56

11.6.2 Intermediaries 56

11.6.3 Market practices 57

11.6.4 Fines and Penalties 57

11.7 Company Registration and Operations 58

11.7.1 Type of insurance organization 59

11.7.2 Establishing a local company 59

11.7.3 Foreign ownership 60

11.7.4 Types of license 61

11.7.5 Capital requirements 62

11.7.6 Solvency margin 63

11.7.7 Reserve requirements 65

11.7.8 Investment regulations 65

11.7.9 Statutory return requirements 66

11.7.10 Fee structure 67

11.8 Taxation 68

11.8.1 Insurance premium or policy taxation 68

11.8.2 Withholding taxes on premium paid overseas 68

11.8.3 Corporate tax 68

11.8.4 VAT 69

11.8.5 Captives 69

11.9 Legal System 70

11.9.1 Introduction 70

11.9.2 Access to court 70

11.9.3 Alternative dispute resolution 71

12 DATABOOK 72

12.1 Life Insurance 72

12.1.1 Policies and premium 72

12.2 General Insurance 73

12.2.1 Policies and premium 73

13 DEFINITIONS AND METHODOLOGY 74

13.1 Definitions 74

13.2 Methodology 76

14 ABOUT GLOBALDATA 78

14.1 Contact GlobalData 78

14.2 About GlobalData 78

14.3 GlobalData's Services 79

14.4 Disclaimer 80


List Of Figure

List of Figures

Figure 1: Liechtensteiner Exchange Rate (CHF per USD ), 2013-2022 10

Figure 2: Liechtensteiner Insurance Industry-Gross Written Premium (CHF Billion), 2013-2022 13

Figure 3: Liechtensteiner Insurance Industry-Density (CHF), 2013-2022 14

Figure 4: Liechtensteiner Life Insurance-Gross Written Premium (CHF Billion), 2013-2022 15

Figure 5: Liechtensteiner Life Insurance-Penetration (%), 2013-2017 16

Figure 6: Liechtensteiner Life Insurance-Penetration (%), 2017-2022 16

Figure 7: Liechtensteiner General Insurance-Gross Written Premium (CHF Billion), 2013-2022 17

Figure 8: Liechtensteiner General Insurance-Penetration (%), 2013-2017 18

Figure 9: Liechtensteiner General Insurance-Penetration (%), 2017-2022 18

Figure 10: Liechtensteiner Reinsurance-Premium Accepted (CHF Million), 2013-2022 20

Figure 11: Liechtenstein-The Three Pillars of Solvency II 36

Figure 12: Liechtenstein-Insurance Supervision and Control at Various Levels 54

Figure 13: Liechtenstein-Insurance Regulatory Frameworks for Company Registration and Operation 58


List Of Table

List of Tables

Table 1: Liechtensteiner Insurance Industry-Key Facts, 2017 2

Table 2: Liechtensteiner Insurance Industry-Leading Insurers, 2017 2

Table 3: Liechtensteiner Government Credit Ratings 10

Table 4: Liechtensteiner Insurance Industry-Gross Written Premium (CHF Billion and USD Billion), 2013-2017 13

Table 5: Liechtensteiner Insurance Industry-Gross Written Premium (CHF Billion and USD Billion), 2017-2022 13

Table 6: Liechtensteiner Insurance Industry-Density (CHF), 2013-2017 14

Table 7: Liechtensteiner Insurance Industry-Density (CHF), 2017-2022 14

Table 8: Liechtensteiner Life Insurance-Gross Written Premium (CHF Billion and USD Billion), 2013-2017 15

Table 9: Liechtensteiner Life Insurance-Gross Written Premium (CHF Billion and USD Billion), 2017-2022 15

Table 10: Liechtensteiner General Insurance-Gross Written Premium (CHF Billion and USD Billion), 2013-2017 17

Table 11: Liechtensteiner General Insurance-Gross Written Premium (CHF Billion and USD Billion), 2017-2022 17

Table 12: Liechtensteiner Reinsurance-Premium Accepted (CHF Million and USD Million), 2013-2017 20

Table 13: Liechtensteiner Reinsurance-Premium Accepted (CHF Million and USD Million), 2017-2022 20

Table 14: Liechtensteiner registered insurance intermediaries, 2013-2017 21

Table 15: Allianz Risk Transfer AG-Key Facts 24

Table 16: ElipsLife AG-Key Facts 24

Table 17: Nucleus Life AG-Key Facts 25

Table 18: Quantum Leben AG-Key Facts 25

Table 19: Baloise Life (Liechtenstein) AG-Key Facts 26

Table 20: Liechtenstein-Insurance Regulatory Framework Key Features 27

Table 21: Liechtenstein-Life Insurance Regulatory Framework 44

Table 22: Liechtenstein-Property Insurance Regulatory Framework 45

Table 23: Liechtenstein-Motor Insurance Regulatory Framework 46

Table 24: Liechtenstein-Liability Insurance Regulatory Framework 48

Table 25: Liechtenstein-Corporate Tax Rates for the Financial Year 2018 69

Table 26: Liechtensteiner Life Insurance-Policies and Premium, 2013-2017 72

Table 27: Liechtensteiner Life Insurance-Policies and Premium, 2017-2022 72

Table 28: Liechtensteiner General Insurance-Policies and Premium, 2013-2017 73

Table 29: Liechtensteiner General Insurance-Policies and Premium, 2017-2022 73

Table 30: Insurance Industry Definitions 74

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS

Products

Liechtensteiner insurance industry, Life insurance, General insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Travel insurance, Health insurance, Reinsurance


Companies

Valorlife Life Insurance Ltd

ElipsLife AG

Nucleus Life AG

Quantum Leben AG

Baloise Life (Liechtenstein) AG