Israel Insurance Report

Published 08 June 2015

  • 62 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
$1,295.00
Israel Insurance Report

BMI View: Israel's insurance market is one of the most well developed in the region, with a high density (premiums per capita) and solid growth indicating a positive outlook for the industry moving forward . Currency fluctuations do mean that over the short term we expect to see a decline in both life and non-life premiums in US dollar terms, though in local currency terms both sectors will continue to record steady single digit growth throughout the forecast period through to 2019.

We hold a bullish view for the Israeli insurance market as a whole, largely due to the rising wealth in the Israeli market. We expect to see a steady rate of growth throughout the forecast period to 2019 with higher demand for life insurance ensuring demand for premiums remains strong. The strong growth of the overall economy will see life insurance penetration remaining consistent at around 2.6% of GDP and this will see per capita life insurance premiums pass USD1,228 in 2019.

However, the fortunes of the two major segments, life and non-life insurance, diverge. The larger life segment will grow a little more rapidly than the overall economy, thanks to successful development and distribution of new products by the leading insurance companies. The non-life segment will grow a little more slowly than the overall economy. This is mainly due to downwards pressure on prices, thanks in part to government policies to promote competition. As such non-life penetration will decline slightly from 1.3% in 2015 to 1.2% in 2019 - also a reflection of wider economic growth in Israel.

Private expenditure in Israel, a key indicator of potential spending on a range of insurance products, will be bolstered by a number of positive factors, including subdued inflation, low unemployment and expansionary fiscal and monetary policy, with tax cuts and public sector wage hikes boosting expenditure. This will drive the growth of the life sector which, combined with a rise in life-spans, will see consumers...

BMI Industry View
7
SWOT
9
Insurance
9
Political
11
Economic
12
Operational Risk
13
Industry Forecast
15
Life Premiums Forecast
15
Table: Gross Life Premiums Written (Israel 2012-2019)
16
Life Insurance Claims
17
Table: Life Insurance Claims (Israel 2007-2014)
17
Life Insurance Drivers
18
Table: Life Expectancy by Gender (Israel 2012-2019)
18
Table: Demographic Breakdown (Israel 2012-2019)
19
Non-Life Premiums Forecast
19
Table: Gross Non-Life Premiums Written (Israel 2012-2019)
21
Table: Net Non-Life Premiums Written (Israel 2012-2019)
22
Table: Reinsurance Non-Life Premiums Written (Israel 2012-2019)
22
Non-Life Claims
22
Table: Non-Life Insurance Claims (Israel 2007-2014)
23
Table: Non-Life Insurance Claims by Line (Israel 2007-2013)
24
Non-Life Sub-Sector Forecast
24
Table: Non-Life % Breakdown (Israel 2012-2019)
26
Motor and Transport Insurance
26
Table: Motor Vehicle Insurance (Israel 2012-2019)
27
Table: Insurance Key Drivers, Autos (Israel 2012-2019)
27
Table: Transport Insurance (Israel 2012-2019)
28
Table: Insurance Key Drivers, Freight Tonnage (Israel 2012-2019)
29
Property Insurance
29
Table: Property Insurance (Israel 2012-2019)
30
Health and Personal Accident Insurance
30
Table: Health Insurance (Israel 2012-2019)
31
Table: Insurance Key Drivers, Private Health Expenditure (Israel 2012-2019)
32
Table: Personal Accident Insurance (Israel 2012-2019)
32
General Liability and Credit Insurance
33
Table: General Liability Insurance (Israel 2012-2019)
33
Table: Credit/Financial Guarantee Insurance (Israel 2012-2019)
34
Industry Risk Reward Ratings
35
MENA Insurance Risk/Reward Index
35
Table: MENA Insurance Risk/Reward Index
36
Market Overview
37
Life Market Overview
37
Table: Life Market Share, USDmn, 2006-2013
38
Table: Life Market Share (%), 2006-2013
39
Non-Life Market Overview
40
Table: Non-Life Market Share, USDmn, 2006-2013
42
Table: Non-Life Market Share (%) 2006-2013
42
Company Profile
44
Clal
44
Harel
46
Migdal
49
Demographic Forecast
51
Table: Population Headline Indicators (Israel 1990-2025)
52
Table: Key Population Ratios (Israel 1990-2025)
53
Table: Urban/Rural Population & Life Expectancy (Israel 1990-2025)
53
Table: Population By Age Group (Israel 1990-2025)
54
Table: Population By Age Group % (Israel 1990-2025)
55
Methodology
56
Industry Forecast Methodology
56
Risk/Reward Index Methodology
59
Table: Indicators
61
Table: Weighting of Indicators
62

The Israel Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Israel Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Israeli insurance industry.

Key Benefits

  • Benchmark BMI's independent insurance industry forecasts for Israel to test other views - a key input for successful budgeting and strategic business planning in Israel's insurance market.
  • Target business opportunities and risks in Israel through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2005-2014) and forecasts to end-2019 for key industry indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

  • Life/non-life Premiums: Total premium growth (USDmn), premium growth (% y-o-y), penetration (% of GDP), density (USD per capita) for Life and Non-Life sectors, claims reinsurance, and assets and liabilities.
  • Non-life subsectors: Data on gross written premiums for all major Non-Life segments (motor, transport, property, personal accident, health, general liability and credit financial).

BMI’s Insurance Risk Reward Index

BMI’s Risk Reward Indices provide investors (Life and Non-Life) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Growth Drivers & Risk Management Projections

Key data and forecasts to end-2019 focusing on the growth drivers and downside risks to specific insurance lines including:

  • Population: Male/female, by age group, active/pensionable/youth population % of total, urban/rural population % of total.
  • Freight: Tonnage – air freight, rail freight, road freight, inland waterway.
  • Motor: Fleet size by type of vehicle % change y-o-y.
  • Epidemiology: Disease Adjusted Life Years and private health expenditure.

Market Overview & Rankings

Illustration of the insurance industry via rankings tables comparing gross written premiums by company (USDmn) and market share (%) for the top 20 players in both Life and Non-Life. This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.

Sources

The insurance Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

secure
Benefit from discounts when you add multiple products to your basket
2 Products SAVE 10%
3 Products SAVE 15%
4 Products SAVE 20%
5 Products SAVE 25%
6 Products SAVE 30%
7 - 20 Products SAVE 35%
21 Products or more SAVE 40%