Ever since we began following the competition-exposed Nordic market, premiums have continuously increased. From 219 MSEK 2003 to 382 MSEK 2011 the increase is almost 75 per cent. Endowment insurance accounts for a large part of the increase in Sweden. Nordnet and Avanza have together brought in MSEK 119,500 since endowment insurance was introduced in 2008. Two new actors who together represent 73 per cent of the increase. This year we see that written new endowment insurance policies is decreasing sharply – probably due to the introduction of the investment savings account, called ISK.
When we compile the figures from the annual accounts of the actors on the competition-exposed market, we see that two of the bank life companies are continuously at the top and that all are increasing slightly from 2010 and therefore also increasing their dominance in the Nordic countries. Recently however Danske Bank announced that they were considering selling the whole of Danica. Read more. Such a deal would entirely restructure the Nordic market.