Boston, MA -- (SBWIRE) -- 09/12/2013 -- During 2011-2012, the Australian reinsurance segment recorded an increase in reinsurance rates due to the catastrophic events that occurred during 2010-2011. Australia was affected by eight large-scale natural disasters in 2010: five floods, a tropical cyclone and two major storms. The worst of these were the Queensland floods that occurred in December 2010. Other regions affected by floods in 2010 were New South Wales, Victoria, South Australia and Western Australia. Again in February 2011, Northern Queensland was affected by Cyclone Yasi, followed by further flooding in Victoria in 2012. The result of the high frequency of natural disasters over these two years was an increase in reinsurance premium rates, which rose by 75% between 2010 and 2012, fueling growth in the overall reinsurance segment. Despite the impact of natural disasters, the reinsurance segment recorded a profit during the review period. The segment grew at a CAGR of 0.1% during the review period.

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Key Highlights

- The Australian reinsurance segment grew at a CAGR of 0.1% during the review period
- The written premium of the reinsurance segment is projected to record a CAGR of 6.8% over the forecast period
- Regulatory requirements will act as a key growth driver for reinsurance
- Australia has a highly concentrated reinsurance segment

Scope

This report provides a comprehensive analysis of the reinsurance market in Australia:

- It provides historical values for Australia's reinsurance market 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 Australia's reinsurance market, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in Australia and its growth prospects

Reasons to Get This Report

- Make strategic business decisions using historic and forecast market data related to the Australian reinsurance market and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Australian reinsurance market
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Australian insurance market and its impact on companies and the market's future

Companies Mentioned in this Report: Munich Reinsurance Company of Australasia Ltd, Swiss Reinsurance Company Ltd, Hannover Life Re of Australasia Ltd, Scor Reinsurance Asia-Pacific Pte Ltd, General Reinsurance Australia Ltd

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