New Insurance market report from Timetric: "Reinsurance in Chile, Key Trends and Opportunities to 2017"
Boston, MA -- (SBWIRE) -- 10/30/2013 -- The growth of Chile's life, non-life, and personal accident and health insurance segments is expected to drive the reinsurance segment over the forecast period. The value of reinsurance is expected to grow from CLP25.5 billion (US$52.4 million) in 2012 to CLP60.7 billion (US$124.3 million) in 2017, at a forecast-period CAGR of 19.0%.
- Chile is the most seismically active country in the world with the highest frequency of earthquakes, thereby increasing the business potential for reinsurers.
- The country was affected by a major earthquake in February 2010, resulting in an estimated incurred loss of US$8.5 billion.
- Non-life insurers ceded 56.0% of their gross written premium to reinsurers in 2012 to avoid exposure to high-risk events such as natural disasters.
- The Chilean reinsurance segment is highly competitive with the presence of both domestic and foreign reinsurers. As of 2011, 129 foreign reinsurers and one domestic reinsurer operated in Chile.
View Full Report Details and Table of Contents
This report provides a comprehensive analysis of the reinsurance segment in Chile:
- It provides historical values for Chile'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 Chile's reinsurance segment, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Chile and its growth prospects
Reasons to Get This Report
- Make strategic business decisions using in depth historic and forecast market data related to Chile's reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within Chile's reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing Chile's insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: Caja Reaseguradora de Chile SA, MetLife Chile Reaseguros de Vida SA, Munich Re
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