Find out the results of the insurance market in January.

Household savings rate remains stable for BNB

In the third quarter of 2023, household savings rate increased slightly to 14.8% from the previous quarter’s 14.7%. Despite a 1.5% growth in households’ disposable income and a 1.4% rise in final consumption expenditures, the savings rate remained nearly stable.

The growth in disposable income was mainly driven by a 1.6% increase in employees’ compensation and a 0.4% rise in net social benefits, while property income and other net current transfers had a negative impact of -0.9 percentage points. Additionally, household investment rate decreased from 8.8% to 8.6% in the third quarter of 2023, reflecting a continuing trend of reduction.

UnitedHealth Group and Allianz maintain their positions as the world’s leading insurers

In 2022, AM Best published rankings for the largest insurance companies based on two activity indicators. The top three positions in the Net Issued Premiums ranking remained unchanged from 2021, with UnitedHealth Group, Centene Corporation, and Elevance Health dominating the podium in health insurance. Outside health insurance, Chinese companies Ping An and China Life claimed the top two spots in damages and life combined.

In terms of non-banking assets, German group Allianz maintained its top position with $1.1 trillion, while Ping An rose to the second position with $960.678 billion, and Berkshire Hathaway dropped to third with $948.452 billion, losing one place from 2021.

Insurance distribution channels – Figures for 2022

Assuralia’s annual report analyzes the distribution channels in the Belgian insurance market based on a survey of insurance companies. In 2022, the overall premium income for life and non-life insurance increased from 29.3 billion euros in 2021 to 29.9 billion euros, showing a nominal growth of 2.0%.

Agents and bancassurance collectively accounted for 28.4% of the premium income, with bancassurance surpassing brokers in individual life insurance distribution.

Find the report here.

 

Sources :

Assuropolis, BNB : le taux d’épargne des ménages reste stable

Atlas mag, UnitedHealth Group et Allianz conservent leurs positions de premiers assureurs mondiaux

Assuropolis, Canaux de distribution de l’assurance – Chiffres 2022

 

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