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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Norwegian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Norway's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Norway non-life (P&C) market as well as trends by line of business. Axco analysts also report on Norway'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 Norway's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Norway, 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 Norway, 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 Norway with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Despite its relatively small population, Norway's insurance market is relatively large by international standards and in 2018 was ranked 25 in the world in terms of non-life premium, between Nordic neighbour Denmark and Turkey. The Norwegian non-life market is sophisticated and well-developed, and its domestic insurers offer a broad range of products.
Premium income for non-life insurance in 2019 totalled NOK 73.99bn (USD 7.57bn), up over 7% ....
This is a brief extract of information; more updated information may be available in the latest published report.