Life Insurance in Israel is Consolidated Sector: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Ken Research has recently announced its publication titled, “Life Insurance in Israel, Key Trends and Opportunities to 2019”, which aims at providing in-depth market analysis of Israel’s life insurance segment. It further provides information about growth prospects, distribution channels, top life insurance companies and historic value of review period (2010-14) and projected value of forecast period (2014-19). The life insurance segment of capital market division manages variety of issues including supervision and regulation of insurance companies and its agents. Looking at the Israel’s life insurance segment, it was the largest segment of Israel’s insurance industry in 2014 having accounted for 51.6% of the Israeli Insurance industry’s gross written premium in 2014. This report aims at providing in-depth market analysis of Israel’s life insurance segment. It further provides information about growth prospects, distribution channels, top life insurance companies and historic value of review period (2010-14) and projected value of forecast period (2014-19) Various categories of life insurance plans in Israel are explained in figure below: The Israeli life insurance segment is highly consolidated, with the five leading insurers accounting for more than 90% of the segment’s gross written premium in 2014. This high degree of consolidation and low competitiveness in life insurance department of Israel has great impact on insurance rates in Israel. Insurance is dominated by five leading market players i.e. Migdal, Clal, Harel, Phoenix and Menorah-Mivtahim. Further, 11 insurers licensed to conduct life insurance business in Israel.Share of these firms in life insurance segment are given in the table below: Rising profitability in Israel’s life insurance segment Fast pace expansion of life insurance business is observed with substantially high profit levels. Remarkable stability and extraordinary profitability has been witnessed in life insurance saving products. These products are associated with low risk and high profitability. Israel: life insurance commission (in percent of gross premium) Recent trends also show positive growth of life insurance industry of Israel. Key macroeconomic trends that show modest growth of life insurance sector are: * According to OECD global insurance statistics, annual real gross premium growth was 2.7% p.a. (2012-13) * According to OECD global insurance statistics, nominal growth in gross claim payment was 2.2% p.a. (2012-13) * Gross written premium of Israel’s life insurance segment rose from USD 5.6 Billion IN 2010 to USD 8.6 Billion IN 2014. * The life insurance segment accounted for 51.6% of Israeli’s insurance industry’s gross written premium in 2014. * The life insurance segment’s share is expected to increase from 51.6% in 2014 to 55.3% in 2019. Key Macroeconomic Trends Driving Growth of Card Industry in Denmark Life insurance industry is projected to grow further in Israel but however growth is expected to be continue at a slower pace than before. Some macroeconomic factors driving growth in Israel’s life insurance segment are: ** Rising life expectancy and aged population Population above 65 years of age is increasing rapidly from 0.84 million in 2010 to 0.90 million in 2014. Further according to the World Bank, Israel has one of the highest life expectancy in the world i.e. 82 years. These factors are leading to increasing awareness about life insurance in the citizens of Israel. Further, citizens are investing more in life insurance policies to comfortably support their old age. ** Strong growth of GDP contributing to growth of life insurance market Israel has shown stupendous economic growth and has shown better growth than other OECD nations in last 5 years. Nominal GDP and per capita GDP are both increasing significantly. This strengthening of GDP of Israel is playing a pivotal role in rising demand for life insurance products in economy driving growth of life insurance sector of Israel. ** Strong agency network Strong agency network, customer support, strong advertising campaigns are also creating awareness amongst people which is also a factor contributing to fast pace expansion of insurance market in Israel. ** Recent pension reforms Individuals who started saving after January 1995 period can switch these savings to insurance policies and provident funds without any tax deductions or fine payment. This also aided in improvement of insurance industry of Israel. To know more on coverage, click on the link https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/life-insurance-israel-key/25243-93.html Related Reports The Insurance Industry in Uzbekistan, Key Trends and Opportunities to 2020 Reinsurance in Turkey, Key Trends and Opportunities to 2020 Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Post Views: 5 Tags: Israel Insurance Industry, Israel Insurance Industry Market Forecast, Israel Insurance Industry Market Share, Israel Insurance Industry Market Size, Israel Insurance Industry Research Report, Israel Life Insurance Gross written premium, Israel Life Insurance Market Future, Israel Life Insurance Market Research, Israel Non life Insurance Sector, Israel Reinsurance Market Size