Research and Markets: Travel Insurance and Assistance in Southern and Western Europe
Research and Markets (http://www.researchandmarkets.com/research/b37zns/travel_insurance) has announced the addition of the "Travel Insurance and Assistance in Southern and Western Europe" report to their offering.
Travel Insurance and Assistance in Southern and Western Europe investigates the market for stand-alone travel insurance and assistance in eight countries.
This market is estimated by Finaccord to be worth EUR 1.83 billion in gross written premiums in 2012 and its value has proved to be fairly resilient in spite of a challenging economic environment. Moreover, the competitive and distribution dynamics of the market continue to evolve with new channels emerging and partnerships with major distributors subject to regular change.
For the research, Finaccord investigated the distribution partnerships of over 1,250 travel trade, transportation and financial organisations across the region; it also analysed systematically the involvement in travel insurance in each country of other key distributor categories, namely automotive clubs, direct sales, online aggregators and brokers, other online brands, and retailers.
The report, which represents an update and expansion to previous Finaccord studies on the subject issued since 2003, is accompanied by an Excel PartnerBASE dataset that details the travel insurance partnerships of each of the travel trade, transportation and financial organisations covered, plus a convenient market data annexe, also in Excel format.
Key findings from the executive summary include:
- across the region as a whole, the number of foreign trips (lasting one night or more) declined from 163.2 million in 2008 to 143.7 million in 2012, which is a compound annual decline of 3.1% over this period;
- the UK has by far the largest travel insurance market in Southern and Western Europe, driven by the size of its population and the relatively high frequency with which its residents travel abroad, and the second largest market in terms of premiums is the Netherlands;
- the combined value of gross written premiums from stand-alone travel insurance and assistance in Southern and Western Europe is forecast to increase from EUR 1.83 billion in 2012 to EUR 1.93 billion in 2016 (giving a nominal compound annual growth rate of 1.4%);
- after taking local inflation into account, three markets - namely those of France, the Netherlands and the UK - are forecast to contract during this period whereas the Portuguese market is forecast to experience to most rapid real-terms growth, followed by Italy and Spain.
- the Netherlands
For more information visit http://www.researchandmarkets.com/research/b37zns/travel_insurance