Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2017  Join our daily free Newsletter

MENAFN Press - 31/01/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN Press) Liechtenstein's insurance industry is primarily driven by offshore business and is the only insurance centre which offers insurance undertakings direct access to Switzerland and EEA countries.

Despite unfavorable demographics and economic factors including a small population and GDP size, Liechtenstein's insurance industry has undergone significant developments over the past decade and this is being supported by the government's commercial tie-ups with Switzerland and an increasing demand for life insurance policies in key overseas markets such as Italy, Germany and Switzerland. However, the industry posted a CAGR of -2.9% during the review period in terms of written premium value.

The decline was largely a consequence of the expiry of the Italian tax amnesty of 2011, which resulted in sharp decline of insurance premiums in 2011.

A gateway to the EU and Swiss markets

Liechtenstein is treated by the global insurers as a location by which to access EU markets, due its commercial tie-ups with EU member states and Switzerland.

The country is a member of the European Economic Area (EEA) and has a direct insurance agreement with Switzerland. This means Liechtenstein's insurance companies can underwrite policies directly.

In light of this, insurers generate a significant proportion of their revenues from EU member states, especially from German-speaking counties such as Germany and Austria.

Implementation of Solvency II to have a significant influence
Solvency II is a fundamental reform of capital adequacy requirements and risk management standards.

European policymakers are aiming to implement these new regulations in all EU member states, Norway, Lichtenstein and Iceland. The deadline set for meeting Solvency II requirements is January 2015.

This change will result in higher capital requirements, which may subsequently discourage new and small-scale insurers from entering Lichtenstein's insurance industry.

However, the stringent regulations are expected to benefit the country's insurance industry in the long term.
Reliance on offshore business
Liechtenstein's insurance industry generates a key proportion of revenues from offshore business.

This over reliance is poised to emerge as a threat in the case of unfavorable economic conditions. The extent of reliance can be gauged by the fact that the country generates over 99% of its total written premiums through offshore business.

Within the life insurance segment, written premiums declined by 51.5% in 2011 over figures from 2010, 14.8% in the non-life segment and 13.7% in the personal accident and health segment. These declines are partly due to a decrease in offshore business from Italy and the expiry of the Italian tax amnesty in April 2011.

Furthermore, the ongoing sovereign debt crisis and the implementation of stringent regulations by EU member states is expected to remain a key threat for the development of the industry.

Timetric

To purchase the full version of The Insurance Industry in Liechtenstein, Key Trends and Opportunities to 2017, please click here

Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries.

It provides detailed economic and sector intelligence, business insights and independent authoritative commentary. Each year Timetric produces hundreds of high-quality research reports across numerous countries, industries and companies.

These reports draw on in-depth primary and secondary research, proprietary data, and high-quality modelling and analysis to give deep insight into global market dynamics and economic trends.

If you are interested in purchasing this research, please click on the following link:

http://www.menafn.com/research/research_rp_details.asp?rp_id=6147


About The Insurance Industry in Liechtenstein
The Insurance Industry in LiechtensteinIf you are interested in purchasing this research, please click on the following link:http://www.menafn.com/research/research_rp_details.asp?rp_id=6147

 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014Dubai SME ties up with Taylor Wessing to raise awareness on Intellectual Property and fund-raising among SME100 firms ,MENAFN Press
(MENAFN Press) Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) with the international law ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014Mannai Corporation net profit soars 73 percent in Q1 ,MENAFN
(MENAFN) Qatar's Mannai Corporation said that its net profit in the first quarter of this year increased significantly, the Peninsula Qatar reported. The group said that net profit in the period ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Redefining large AOC launches 28€³ MVA monitors ,MENAFN Press
(MENAFN Press) Display specialist AOC launches its first two 28" (71.1 cm) monitors. The m2870Vhe and m2870Vq feature extra-large 16:9 MVA panels with Full HD resolution, wide viewing angles and high ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Finance House Q1 Net Soars 38% to AED 35.51 Million ,MENAFN Press
(MENAFN Press) Finance House PJSC (FH), has kicked-off 2014 on an upbeat note by registering a consolidated net profit of AED 35.51 million for the first quarter of 2014, which is nearly 38% higher ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 2014Mazola launches Sunflower Oil in new 1.8 litre label and packaging ,MENAFN Press
(MENAFN Press) Mazola, one of the leading names in the regional food industry, today announced the launch of its 1.8 litre Sunflower Oil in a brand new pack and label design. The new look perfectly ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help