New Insurance market report from Timetric: "Reinsurance in Belgium, Key Trends and Opportunities to 2017"
Boston, MA -- (SBWIRE) -- 01/23/2014 -- Written premiums in the Belgian reinsurance segment increased from EUR795.2 million (US$1.2 billion) in 2008 to EUR805.3 million (US$1.0 billion) in 2012, at a CAGR of 0.3% during the review period (2008-2012). The global financial crisis in 2009 and rising sovereign debt in the country and other EU member states kept growth subdued. The treaty reinsurance category accounted for 60.4% of the total reinsurance written premium value in 2012, followed by the facultative reinsurance category with the remaining 39.6%. The Belgian reinsurance segment is relatively small when compared to other EU member states. It comprises a number of multinational corporations and no pure domestic reinsurers, forcing Belgian insurers to look to foreign insurers, primarily from Switzerland, the UK, Bermuda and the US, for support
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- The Belgian reinsurance segment registered growth at a review-period CAGR of 0.3%, limited by the country's increasing sovereign debt and political instability
- Compared to other EU member states, the Belgian reinsurance segment is small. It is also highly competitive and contains a number of leading multinational reinsurers
- Belgium's ongoing sovereign debt crisis and underperforming insurance industry encouraged global reinsurers, such as Swiss Re, to participate in the country's untapped reinsurance segment
- The Reinsurance Act 2009, implemented in Belgium in February 2009, stipulates the minimum guarantee capital, change of ownership and solvency margins for reinsurers operating in the country, with the aim of achieving financial soundness.
This report provides a comprehensive analysis of the reinsurance segment in Belgium:
- It provides historical values for Belgium'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 categories in Belgium's reinsurance segment, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Belgium and its growth prospects
Reasons to Get This Report
- Make strategic business decisions using in depth historic and forecast market data related to the Belgian reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Belgian reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Belgian insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: Secura Belgian Re, Sirius Belgium Reassurances S.A., Everest Re, Aspen Re
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