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A thorough analysis of the Luxembourgish Insurance market(1) in 2011 reveals that, if no decisive action is taken, profitability and growth over the next years will be significantly impacted. When focusing on the Life Insurance market the last five years show that, to the exclusion of windfall effects (e.g. ESD II(2)), profitability of the main actors is on a downside trend. The future looks uncertain, with numerous challenges to face such as a turbulent macro-economic context, a tighter regulatory environment and changing consumer behaviors. To succeed in this evolving competitive landscape, Luxembourgish insurers must radically transform, and differentiate themselves from the competition, at a domestic, European, but also global scale.
The turbulent market...
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