Luxembourg’s Economy is Heavily Reliant on the Financial Sector

Date: 2015-09-01

“• Luxembourg’s personal accident and health insurance segment remained resilient to the economic difficulties and recorded robust review-period CAGR of 20.5%.

• Luxembourg’s economy is heavily reliant on the financial sector, which contributed 36% of GDP in 2013. 

• Solvency II, the upcoming EU directives for regulating insurance companies, will be implemented in January 2016, and the Commissioner of Insurance is in the process of monitoring insurers’ preparations for its implementation.

• Insurers offer customized health insurance to serve large expatriate population.

• Luxembourg’s insurers are strengthening their distribution channels networks.

• The leading distribution channels for the personal accident and health segment in Luxembourg are brokers and agencies.”


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