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A growing number of high net worth individuals (HNIWs) is expanding opportunities for life insurers in Luxembourg, according to a new report from Timetric's Insurance Intelligence Center (IIC).
According to the report, after posting a relatively sluggish growth over the review period (2010-2014) the life insurance segment in Luxembourg is set to improve. It is forecast to grow at a CAGR of 6.8% from EUR23.8bn (US$31.5bn) in 2014 to EUR33.1bn (US$38.0bn) in 2019. Strong demand from HNWIs and UHNWIs due to a favourable tax regime, guaranteed capital and tailoured wealth management solutions are the core drivers behind this growth.
"The developed financial sector and investor-friendly taxation system makes Luxembourg an attractive destination for cross...
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