Israel Insurance Report

Providing expert analysis, independent forecasts and competitive intelligence on the insurance industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Insurance Risk Reward Index and Company Profiles.

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Israel Insurance Report
Product Price
$1,295.00

BMI View: Both the life and the non-life segments of Israel ' s sophisticated insurance sector should benefit from the ageing of the population. There are upside risks to ou r forecasts for the life segment; h owever, there are both upside and downside risks for the smaller non-life segment.

Headline Insurance Forecasts (Israel 2012-2019)
Indicator 2012 2013 2014e 2015f 2016f 2017f 2018f 2019f
BMI/Israel Insurance Association
Gross life premiums written, ILSbn 25.46 26.63 27.67 28.89 30.55 32.44 34.50 36.95
Gross life premiums written, ILS, % y-o-y 6.5 4.6 3.9 4.4 5.7 6.2 6.4 7.1
Gross life premiums written, USDbn 6.61 7.38 7.73 7.41 8.15 8.89 9.45 10.12
Gross life premiums written, USD, % y-o-y -1.1 11.7 4.9 -4.2 10.0 9.1 6.4 7.1
Gross non-life premiums written, ILSbn 18.35 19.43 20.11 20.90 21.82 22.74 23.72 24.77
Gross non-life premiums written, ILS, % y-o-y 5.8 5.9 3.5 3.9 4.4 4.3 4.3 4.4
Gross non-life premiums written, USDbn 4.76 5.38 5.62 5.36 5.82 6.23 6.50 6.79
Gross non-life premiums written, USD, % y-o-y -1.8 13.0 4.4 -4.6 8.6 7.1 4.3 4.4

Latest Updates And Forecasts

  • Israel's insurance sector has a number of features in common with its counterpart in South Africa. The country's unusual history means that both segments are dominated by a small number of very substantial and sophisticated indigenous composite groups. Life insurance is substantially larger than non-life insurance, and has greater growth potential. Life insurance plays an important role as a conduit for organised savings.

  • Recent results from the largest insurers confirm that they are benefiting from a number of factors. In particular, life insurance is seen as an attractive opportunity relative to other savings and investments, given very low interest rates and the volatility of financial markets. Over the long-term, demand for retirement income products will grow thanks to the ageing of the population. The risks to our forecasts are overwhelmingly to the upside.

  • The ageing of the population should also boost demand for health and personal accident insurance, which are important sub-sectors of the non life segment. However, the segment as a whole faces a number of headwinds. These include the sedate pace of economic growth and downwards pressure on prices in the property and motor vehicle insurance sub-sectors.

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 2007-2013)
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 2007-2013)
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
The Product Offering
37
Table: Life Insurance Premiums (USDmn), 2007-2013
38
The Competitive Landscape
38
Table: Life Market (%), 2007-2013
39
Non-Life Market Overview
40
The Product Offering
40
Table: Non-Life Insurance Premiums (USDmn), 2007-2015
41
The Competitive Landscape
41
Table: Non-Life Segment (%), 2007-2013
42
Company Profile
43
Clal
43
Harel
45
Migdal
48
Demographic Forecast
50
Table: Population Headline Indicators (Israel 1990-2025)
51
Table: Key Population Ratios (Israel 1990-2025)
52
Table: Urban/Rural Population & Life Expectancy (Israel 1990-2025)
52
Table: Population By Age Group (Israel 1990-2025)
53
Table: Population By Age Group % (Israel 1990-2025)
54
Methodology
55
Industry Forecast Methodology
55
Risk/Reward Index Methodology
58
Table: Indicators
60
Table: Weighting of Indicators
61

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.