Market on road to recovery as fear of rampant inflation fades

The life insurance business written by foreign life insurance companies has fallen since 2000, but the volume of this business remains significant and it continues to support the activities of local brokers in Iceland

Market on road to recovery as fear of rampant inflation fades

The Icelandic life insurance market is significantly underdeveloped and this is largely due to the legacy of rampant inflation in the 1970s and 1980s. This has greatly influenced the life insurance buying habits of Icelanders and since that time a large section of the population has tended to spend rather than save.