Boston, MA -- (SBWIRE) -- 01/13/2014 -- The Venezuelan reinsurance segment is concentrated, with four operational companies, all of which are owned by local business people. However, the number of reinsurers is expected to decrease over the forecast period. The frequent occurrence of natural disasters and increases in minimum capital requirements also supported the growth of Venezuelan reinsurance during the review period (2008-2012). Venezuela's high crime rate - the country ranks as one of the most violent in Latin America - is also expected to encourage insurers to share risk with reinsurers. The segment registered a review-period compound annual growth rate (CAGR) of 37.0%, with growth in all insurance segments and widespread flooding in 2010, 2011 and 2012 increasing demand for non-life insurance and reinsurance.
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- The Venezuelan reinsurance segment is concentrated, with four operational companies, all of which are owned by local business people
- The non-life insurance premium ceded to reinsurers increased from 23.8% in 2008 to 27.4% in 2012
- The Venezuelan reinsurance segment was led by facultative reinsurance during the review period, which accounted for 85.0% of the segment in terms of written premium in 2012
- The development of the Venezuelan oil industry, and the country's vulnerability to natural disasters have led to growth in property insurance and reinsurance
This report provides a comprehensive analysis of the reinsurance segment in Venezuela:
- It provides historical values for Venezuela'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 Venezuela's reinsurance segment, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Venezuela and its growth prospects
Reasons to Get This Report
- Make strategic business decisions using in depth historic and forecast market data related to the Venezuelan reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Venezuelan reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Venezuelan insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: Munich Re, Mapfre Re
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