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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Icelandic non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Iceland's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Iceland non-life (P&C) market as well as trends by line of business. Axco analysts also report on Iceland's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Iceland's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Iceland, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Iceland, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Iceland with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Japan has the third-largest non-life market in the world after the US and China with a total premium volume (including co-operatives and foreign branches) of JPY 12.50trn (USD 117.82bn) in the year ending 31 March 2020 (referred to as "fiscal 2019"). The market is divided roughly 80:20 between conventional insurance companies and co-operative insurance associations, which write mainly household business. Some of the market's huge premium volume ....
This is a brief extract of information; more updated information may be available in the latest published report.