Boston, MA -- (SBWire) -- 12/31/2013 --The Portuguese reinsurance segment registered a compound annual growth rate (CAGR) of 0.3% during the review period (2008-2012), increasing from EUR1.07 billion (US$1.6 billion) in 2008 to EUR1.08 billion (US$1.4 billion) in 2012. The low growth was mainly due to persistent weak economic conditions in the country. In terms of the total reinsurance written premium, treaty reinsurance accounted for the largest share with 72.4%, while facultative reinsurance accounted for 27.6% in 2012. With growth in all insurance segments as a result of gradual improvements in the Portuguese economy, the Portuguese reinsurance segment is expected to record a forecast-period CAGR of 4.6%, to reach EUR1.3 billion (US$1.8 billion) in 2017.
Key Highlights
- The Portuguese reinsurance segment registered a review-period CAGR of 0.3%,increasing from EUR1.07 billion (US$1.6 billion) in 2008 to EUR1.08 billion (US$1.4 billion) in 2012
- The absence of major natural disasters, coupled with stable capacity, meant that Portuguese reinsurance renewal rates remained largely flat during January 2012
- Treaty reinsurance accounted for 72.4% of the reinsurance premiums in 2012, while facultative reinsurance accounted for the remaining 27.6%
- Over the forecast period, changes anticipated in the reinsurance segment due to the implementation of Solvency II directives are expected to increase demand for reinsurance as insurers concentrate more on improving their risk-mitigation strategies
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Scope
This report provides a comprehensive analysis of the reinsurance segment in Portugal:
- It provides historical values for Portugal's reinsurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Portugal's reinsurance segment, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Portugal and its growth prospects
Reasons to Get This Report
- Make strategic business decisions using in depth historic and forecast market data related to the Portuguese reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Portuguese reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Portuguese insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: RGA International Reinsurance Company Ltd, Hannover Re, Aspen Re
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New Market Research Report: Reinsurance in Portugal, Key Trends and Opportunities to 2017
New Insurance market report from Timetric: "Reinsurance in Portugal, Key Trends and Opportunities to 2017"