DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/xlwtck/reinsurance_in) has announced the addition of the "Reinsurance in Australia, Key Trends and Opportunities to 2018" report to their offering.
Australia is prone to natural disasters such as floods, cyclones, earthquakes, bushfires and storms. With such an increase in catastrophic events, Australia recorded an increased reinsurance rates ranging from 50-75% during 2011 and 2012. There were eight natural disasters in 2010, of which five were floods, a tropical cyclone and two major storms.
The Queensland flood was the worst of these, which occurred in December 2010. The total reinsurance accepted recorded a review-period compound annual growth rate (CAGR) of 3.7%. The reinsurance ceded by the insurers grew at a review-period CAGR of 2.4%. Non-life insurance is the largest category, ceding 30.5% in 2013, followed by life insurance with 8.1% and personal accident and healthcare insurance with the remaining 4.0%.
- The premium accepted in the reinsurance segment increased at a compound annual growth rate (CAGR) of 3.7%.
- The treaty reinsurance category accounted for 26.5% of the reinsurance premium in 2013, while the facultative reinsurance category accounted for the remaining 74.5%.
- Non-life insurance ceded the highest percentage, with 30.5% in 2013.
- The total premium ceded is expected to grow at a CAGR of 4.2% over the forecast period.
- Munich Re is the leading reinsurer, which posted a share of 17.8% in 2013, in terms of reinsurance written premium.
Key Topics Covered:
1 Executive Summary
3 Australian Insurance Industry Attractiveness
4 Reinsurance Growth Dynamics and Challenges
5 Key Industry Trends and Drivers
6 Competitive Landscape and Strategic Insights
7 Business Environment and Country Risk
- Münchener Rückversicherungs-Gesellschaft (Munich Reinsurance Company)
- Swiss Re Life & Health Australia Ltd
- Swiss Reinsurance Company Ltd
- RGA Reinsurance Company of Australia Ltd
- Munich Reinsurance Company of Australasia Ltd
- Lloyd's Australia Ltd
- Hannover Life Re of Australasia Ltd
- General Reinsurance Life Australia Ltd
- Hannover Rück SE
- General Reinsurance Australia Ltd
For more information visit http://www.researchandmarkets.com/research/xlwtck/reinsurance_in