Life Insurance & Pension in Norway
Summary
Life Insurance & Pension in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Norwegian life insurance & pension market recorded gross written premiums of $17.0 billion in 2023, representing a compound annual growth rate (CAGR) of 6.6% between 2018 and 2023.
- The pension/annuity segment accounted for the market's largest proportion in 2023, with total gross written premiums of $13.8 billion, equivalent to 81.4% of the market's overall value.
- The growth in the Norwegian life insurance & pension market is driven by the increasing population of individuals aged 65 and above. This demographic shift is fuelling demand for retirement savings plans and income protection policies as people seek financial security for their post-retirement years. According to Eurostat, the population of individuals aged 65 and above in Norway stood at 1.0 million in 2023, an increase of 1.8% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Norway
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Norway
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Norway life insurance & pension market with five year forecasts by both value and volume
- What was the size of the Norway life insurance & pension market by value in 2023?
- What will be the size of the Norway life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Norway life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Norway's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the recent challenges in the Norwegian life insurance & pension market?
- 8 Company Profiles
- 8.1. DNB Livsforsikring ASA
- 8.2. Kommunal Landspensjonskasse
- 8.3. Nordea Liv
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Norway life insurance & pension market value: $ billion, 2018-23
- Table 2: Norway life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Norway life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Norway life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Norway life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Norway life insurance & pension market share: % share, by value, 2023
- Table 7: DNB Livsforsikring ASA: Key Facts
- Table 8: DNB Livsforsikring ASA: Key Employees
- Table 9: Kommunal Landspensjonskasse: Key Facts
- Table 10: Kommunal Landspensjonskasse: Key Employees
- Table 11: Nordea Liv: Key Facts
- Table 12: Nordea Liv: Key Employees
- Table 13: Norway Size of Population (million), 2019-23
- Table 14: Norway Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 15: Norway GDP (Current Prices, $ Billion), 2019-23
- Table 16: Norway Inflation, 2019-23
- Table 17: Norway Consumer Price Index (Absolute), 2019-23
- Table 18: Norway Exchange Rate, 2018-23
- List of Figures
- Figure 1: Norway life insurance & pension market value: $ billion, 2018-23
- Figure 2: Norway life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Norway life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Norway life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Norway, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Norway, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Norway, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Norway, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Norway, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Norway, 2023
- Figure 11: Norway life insurance & pension market share: % share, by value, 2023
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