The Insurance Industry in the Isle of Man, Key Trends and Opportunities to 2017

The Insurance Industry in the Isle of Man, Key Trends and Opportunities to 2017
Aarkstore Enterprise (India), April 3rd , 2013: The report provides in depth market analysis, information and insights into the insurance industry in the Isle of Man, including:
• The Manx insurance industry’s growth prospects by insurance segments and categories
• The competitive landscape in the Manx insurance industry
• The current trends and drivers of the Isle of Man insurance industry
• The challenges facing the Isle of Man insurance industry
• The regulatory framework of the Isle of Man insurance industry

Summary

The Isle of Man is one of the leading offshore financial centers in the world. Business-friendly and transparent regulations coupled with excellent infrastructure have created a thriving business environment on the island. It successfully avoided the effects of the global financial crisis by achieving a 28th successive year of economic growth in 2012. The insurance industry is an integral part of the Isle of Man’s financial sector and accounted for 13.0 % of its GDP in 2011. The island has emerged as a hub for captive insurance and offshore life insurance businesses. The Manx insurance industry is well diversified with 213 licensed insurance entities at the end of 2012, including insurers, insurance management companies and insurance intermediaries. Over the forecast period, stable economic growth, a favorable regulatory environment, the availability of an experienced workforce and the cost advantages of running a business on the island will drive the growth of the domestic as well as offshore insurance industry in the Isle of Man.

Scope

This report provides a comprehensive analysis of the insurance industry in the Isle of Man:
• It provides historical values for the Manx insurance industry for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
• It offers a detailed analysis of the key segments and categories in the Manx...