Introduction

This report is most appropriate for companies looking for an overview of the life insurance and pensions markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor' s European Life and Pensions Interactive Database 2006.

Scope

• Presents competitor market data for life insurance and pensions companies;
• Assesses regulatory barriers and opportunities;
• 5 years historic data from 2001-5 and 5 year forecast to 2010.

Report Highlights

The updated separation requirement for life insurance companies mandates that life companies maintain a separation between the assets and liabilities attributable to operations involving occupational pension insurance and those involving their other operations.

While not yet on the Swedish legislative agenda, the regulator has been vocal on the issue of the right of transfer for savers in pension insurance policies. This right is currently assured with new insurance contracts only. However, Finansinspektionen is concerned that it be available for all policies, both new and existing.

The EC is expected to publish its formal proposal for a Framework Directive on Solvency 2 by July 2007; however in 2006, FI implemented the traffic light model for supervision of insurance companies. This measures their exposure to financial risk, with a view to ensuring that they can meet their commitments.

Reasons to Purchase

• Get an overview of the life and pensions market, including past growth and forecast growth;
• Assess regulatory barriers and opportunities affecting life insurance and pensions in this country;
• Analyze competition from retail life insurance companies.

• EXECUTIVE SUMMARY - MARKET HIGHLIGHTS
  • Market overview
  • Market forecasts
  • Market regulation
  • Competitive market structure
  • Market leaders
• INTRODUCTION
  • What is this report about?
  • Who is the target reader?
  • How to use this report
• CHAPTER 1 MARKET OVERVIEW
  • Introduction
  • Key findings
    • Over the last 5 years, pensions have accounted for a growing proportion of premium income in Sweden
    • Since 2001, the proportion of premium income attributed to individual policies has been in steady decline
    • Premium income from non unit-linked insurance represents an increasing majority of all life and pensions premium income
    • Following a decline to 37% in 2002, the equity proportion of the investment assets of life and pensions insurance companies has increased to 51%
• CHAPTER 2 MARKET FORECASTS
  • Introduction
  • Key findings
    • Pensions will account for a larger proportion of the growth in premium income between 2006 and 2010
• CHAPTER 3 MARKET REGULATION
  • Introduction
  • Key findings
    • Finansinspektionen regulates the Swedish insurance sector
    • Insurance companies are subject to regulations on financial advice
    • Amended regulations on information provided to policyholders aim to improve consumer protection
    • The IORP directive affects the investment operations and technical provisions of insurance providers
    • The Insurance Intermediary Directive creates a single passport for insurance intermediaries and enhances consumer choice
    • Upcoming legislation will enhance consumer protection
    • Proposed legislation may encourage intensified competition among insurers
• CHAPTER 4 COMPETITIVE MARKET STRUCTURE
  • Introduction
  • Key findings
    • Roughly half of all providers are traditional life insurance companies
    • The top 5 life insurers control 47% of the market, by premium income
• CHAPTER 5 MARKET LEADERS
  • Introduction
  • Key findings
    • SEB TL Fond is the market leader, based on premium income
    • Alecta trails the market leader in the life insurance sector
    • Skandia Liv ranks third among life insurance companies
    • AMF Pension is the fourth highest ranked life insurer by premium income
    • Robur Forsakring rounds out the top 5 life insurers
• APPENDIX
  • Definitions
    • Defined contribution pension scheme
    • Defined benefits pension scheme
    • Group policy
    • Individual pension scheme
    • Individual policy
    • Life assurance
    • Occupational pension scheme
    • Pension insurance policy
    • Premium income
    • Regular premium
    • Single premium
    • Technical provisions
    • Traditional insurance
    • Unit-linked insurance
  • Further reading
    • Interactive Databases
    • Reports and Briefs
  • Wealth, Investments & Protection writing team
  • List of Tables
    • Table 1: Life and pensions insurance premium income, segmented by product, EURm, 2001-2005
    • Table 2: Life and pensions insurance premium income, segmented by product, in percentages, 2001-2005
    • Table 3: Life and pensions insurance premium income, segmented by buyer, EURm, 2001-2005
    • Table 4: Life and pensions insurance premium income, segmented by buyer, in percentages, 2001-2005
    • Table 5: Life and pensions insurance premium income, segmented by investment risk, EURm, 2001-2005
    • Table 6: Life and pensions insurance premium income, segmented by investment risk, in percentages
    • Table 7: Investment assets of life and pensions insurance companies, EURm, 2001-2005
    • Table 8: Investment assets of life and pensions insurance companies, EURm, 2001-2005
    • Table 9: Life and pensions insurance premium income, segmented by product, EURm, 2006-2010
    • Table 10: Life and pensions insurance premium income, segmented by product, in percentages, 2006-2010
    • Table 11: Number of life insurance companies segmented by type, as at Dec 2005
    • Table 12: Top 5 life and pensions insurers by premium income, as at Dec 2005
  • List of Figures
    • Figure 1: Pension premiums accounted for 53% of total premium income in 2005
    • Figure 2: Group policies account for a growing proportion of life and pensions premium income, increasing by 4.7% p.a. on average, over the last 5 years
    • Figure 3: In the last 5 years, average annual growth in premium income from non unit-linked insurance has been marginal; however unit-linked premium income has declined
    • Figure 4: Since 2002, equity investments have accounted for a growing proportion of the investment assets of life and pensions insurance companies, primarily at the expense of bonds
    • Figure 5: Over the next 5 years, premium income is set to grow at an average annual rate of 1.5%
    • Figure 6: Swedish traditional life insurance companies dominate the life and pensions market, by number
    • Figure 7: SEB TL Fond leads the Swedish life and pensions sector