New Market Study Published: Personal Accident And Health Insurance In Belgium, Key Trends And Opportunities To 2016

Fast Market Research recommends "Personal Accident and Health Insurance in Belgium, Key Trends and Opportunities to 2016" from Timetric, now available

by Bill Thompson

(WireNews+Co) - Boston, MA - 24 October 2012

In terms of gross written premium, the Belgian personal accident and health insurance segment recorded a positive growth rate during the review period. This growth was primarily due to increases in overall medical expenditure and Belgian outbound tourism. The expansion of the segment was also supported by positive demographic factors such as increased life expectancy and the country's large urban population. Despite Belgium's strong statutory healthcare scheme and difficult business conditions, the country's personal accident and health segment is expected to continue to grow positively over the forecast period.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/462045_personal_accident_and_health_insurance_in_belgium.aspx) (http://www.fastmr.com/prod/462045_personal_accident_and_health_insurance_in_belgium.asp)

Key Highlights

- The number of outbound tourists from Belgium increased from 8.4 million in 2007 to 10.5 million in 2011, and is expected to reach 12.7 million by 2016. This significant increase in outbound tourism was the key growth driver of the travel insurance category during the review period.
- In Belgium, all public, private and self-employed individuals are protected under a public social security system, under which health insurance is included. Under this system, public and private employees contribute some proportion of their incomes to a public welfare health insurance fund named mutuelle/mutualite or ziekenfonds/mutualiteit in order to access the country's public healthcare facilities.
- The Belgian government encourages foreign investment through incentives such as a lower corporate tax structure, national interest deductions, patent income relief, and VAT grouping. In addition, the country's policy makers offer a variety of fiscal measures designed to facilitate investment.
- In addition, the Belgian insurance industry's high exposure to government bonds could cause losses for insurance companies over the forecast period, while the increasing losses from frauds and crimes may negatively impact bottom lines and reduce investor confidence.
- During the review period, Belgium's unfavorable business and economic conditions forced the country's personal accident and health insurance companies to increase their use of channels with lower marketing and administrative costs.
- A number of multinational insurers, such as AXA, Ergo and Allianz, have significant operations in Belgium and multinationals collectively dominate the country's personal accident and health insurance segment. Moreover, the Belgian government's encouragement of FDI, through liberal regulations, tax reductions, and other fiscal measures, is expected to attract new businesses over the forecast period.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance market in Belgium:

- It provides historical values for the Belgian personal accident and health insurance market for the review period (2007-2011) and forecast period (2012-2016)
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Companies Mentioned in this Report: AXA Belgium, Ethias, AG Insurance, KBC Assurances Belgium, Dexia Insurance Belgium SA, ING Life Belgium, Allianz Belgium

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