Over the past few years, the Life insurance market in Malta has been experiencing steady growth and development. Customer preferences in Malta lean towards life insurance products that offer a combination of protection and investment benefits. Customers are increasingly looking for policies that not only provide financial security for their loved ones but also offer opportunities for wealth accumulation or retirement planning. Trends in the market show a shift towards more personalized and flexible life insurance products in Malta. Insurers are adapting to meet the changing needs of customers by offering customizable policies that cater to individual preferences and financial goals. Additionally, there is a growing demand for digital solutions in the life insurance sector, with more customers opting for online platforms to purchase and manage their policies. Local special circumstances, such as Malta's strategic location and strong regulatory framework, have contributed to the growth of the life insurance market in the country. The presence of international insurance companies and the country's reputation as a financial services hub have attracted foreign investments and expertise, further driving the development of the sector. Underlying macroeconomic factors, including Malta's stable economic growth and low interest rate environment, have also played a role in shaping the life insurance market. With a growing economy and favorable business conditions, customers in Malta are more inclined to invest in long-term financial products like life insurance to secure their future and protect their assets. Overall, the Life insurance market in Malta is poised for continued growth and innovation, driven by evolving customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on gross written premium, gross written premium per capita, gross claim payments, loss ratio, and distribution channels.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market layer. As a basis for evaluating markets, we use industry associations, national statistic offices, and international organizations, such as OECD. Next we use relevant key market indicators and data from country-specific associations such as insurance consumer spending, gross domestic product, insurance - consumer price index (CPI), population growth. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing and HOLT-linear. The main drivers are insurance consumer spending and insurance - consumer price index (CPI).Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
