Life Insurance in Denmark, Key Trends and Opportunities to 2017

Date: 2015-09

In terms of written premium, the life insurance segment accounted for the largest share of the Danish insurance industry during the review period. The Danish life segment registered significant review-period (2008โ€“2012) growth at a compound annual growth rate (CAGR) of 3.7%, higher than that of the non-life segment, mainly supported by group superannuation and unit-linked products. Insurerโ€™s market life insurance as savings products, and Danish consumersโ€™ generally high propensity for risk led to life and group superannuation insurance companies launching more transparent, rather than traditional, products. The life segment grew at a CAGR of 3.7% during the review period. In the individual categories, key life products include individual life and unit-linked, whereas the group category covers group life and group superannuation insurance. Group superannuation products accounted for 84.2% of the segment in 2012, mainly due to the aging population of the country, and are expected to lead the life segment over the forecast period with a 84.8% share of the segmentโ€™s gross written premium in 2017.

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