Industry Statistics and Rankings
How does this industry perform in Norway compared to Europe?
Country Benchmarking
Industry Data Norway
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#11 In EuropeBusiness
#10 In EuropeEmployees
#18 In EuropeWages
#10 In EuropeThe Insurance in Norway ranks 11st in Europe with regards to its 2024 revenue (€22.7bn). Revenue received by operators in Norway has been low in volatility over the past five-year period, with the average annual change in revenue (0.0 %) most comparable to...
Enterprises
Number of businesses in 2024
Revenue per Enterprise
Value (€ Million) in 2024
Top Questions Answered in this Report
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What is the market size of the Insurance industry in Norway in 2024?
The market size of the Insurance industry in Norway is €22.7bn in 2024.
How many businesses are there in the Insurance in Norway industry in 2024?
There are 71 businesses in the Insurance industry in Norway, which has declined at a CAGR of 0.0 % between 2019 and 2024.
Has the Insurance industry in Norway grown or declined over the past 5 years?
The market size of the Insurance industry in Norway has been declining at a CAGR of 0.0 % between 2019 and 2024.
What is the forecast growth of the Insurance industry in Norway over the next 5 years?
Over the next five years, the Insurance industry in Norway is expected to grow.
What are the biggest companies in the Insurance market in Norway?
The biggest companies operating in the Insurance market in Norway are Allianz SE, Assicurazioni Generali and Axa SA
What does the Insurance in Norway include?
Motor vehicle insurance and Property and casualty insurance are part of the Insurance industry.
Which companies have the highest market share in the Insurance in Norway?
The company holding the most market share in Norway is Allianz SE.
How competitive is the Insurance industry in Norway?
The level of competition is very low and decreasing in the Insurance industry in Norway.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
Complementors
- Reinsurance in Norway
- Pension Funding in Norway
Table of Contents
About this industry
Industry definition
Businesses in the industry underwrite insurance policies relating to property, casualty, liability and other general risks and life products. The premiums they earn from this are then invested to generate additional income.
What's included in this industry?
Motor vehicle insuranceProperty and casualty insuranceAccident and health insurancePecuniary loss insuranceGeneral liability insuranceHome-foreign risk insuranceMarine, aviation and transport insuranceLife insuranceAnnuities (bulk and individual)Disability and long-term insuranceIndustry Code
651 - Insurance in Norway
Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Current Performance
Charts
- Revenue in the Insurance in Norway
- Employees in the Insurance in Norway
- Business in the Insurance in Norway
- Profit in the Insurance in Norway
Current Performance
Analysis
How does this country's performance compare to Europe?
Life Cycle
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
International Trade
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
ANALYSIS
What is the competitive landscape in Europe?
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
The EIOPA is urging regulatory bodies to focus on good consumer practices. This has stemmed from an investigation into price-walking when a company continuously raises prices at renewal, which usually occurs once a year for non-life insurance customers.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Insurance in Norway industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Policy payments account for the bulk of income. Insurance offers financial protection in the event of damage, loss or death. Payments are made when a policy is discontinued. Direct claims take up the largest share of payments.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Insurance in Norway industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.
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