Recently published research from Timetric, "Reinsurance in Singapore, Key Trends and Opportunities to 2016", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 08/31/2012 -- The Singaporean insurance industry registered robust growth during the review period, due to the growth in offshore business and improved macro- and micro economic fundamentals in Asia Pacific countries. The high number of natural disasters that occurred in Asia Pacific countries during the review period, including floods in Australia and Thailand, earthquakes in New Zealand and Japan, and a tsunami in Japan, forced insurers in these countries to share a greater proportion of their revenues with reinsurance companies in order to avoid substantial losses from similar events in the future. This trend generated significant business opportunities for reinsurance companies operating in Singapore.
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- Over the forecast period, the demand for reinsurance in the country is expected to increase due to the rapid development of the country's high-profit-margin insurance industry, which performed strongly throughout the past decade.
- During the review period, Singaporean reinsurance companies were exposed to the impact of natural disasters as a result of their significant operations in flood-prone countries such as Australia, Japan, Thailand and New Zealand.
- According to the World Bank's ease doing business index 2012, Singapore is considered as the best place for doing business in the world. Singapore has an open economy and applies no barriers to foreign investors participating in its insurance industry.
- The Singaporean reinsurance market is highly concentrated and is dominated by the multinationals. The Singaporean reinsurance market is dominated by overseas reinsurers including Munich Re, Allianz Se and Swiss Re.
- The implementation of Solvency II will lead to larger foreign capital inward investments as domestic companies look to raise funds through various strategic alliances, joint ventures and partial sale of equity in order to meet the higher capital requirements.
This report provides a comprehensive analysis of the reinsurance market in Singapore:
- It provides historical values for the Singaporean reinsurance market for the review period (2007-2011) and forecast period (2012-2016)
- It offers a detailed analysis of the key sub-segments in the Singaporean reinsurance market, along with market forecasts until 2016
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in Singapore and its growth prospects
- It profiles the top reinsurance companies in Singapore
Reasons to Get this Report
- Make strategic business decisions using in depth historic and forecast market data related to the Singaporean reinsurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Singaporean reinsurance market
- Assess the competitive dynamics in the reinsurance market
Companies Mentioned in this Report: Munich Reinsurance Company Singapore, Allianz SE Reinsurance Branch Asia Pacific, Swiss Reinsurance Company Ltd, Asia Capital Reinsurance Group Co (ACR), General Reinsurance AG, Everest Reinsurance Company, Odyssey Re Holdings Corp., SCOR Reinsurance Company, Singapore Reinsurance Company
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