Canada Reinsurance Industry 2014 Market Size and Forecast to 2018 by Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 12/07/2015 -- The report provides in-depth market analysis, information and insights into the Canadian reinsurance segment, including:
The Canadian reinsurance segment's growth prospects by reinsurance category
Key drivers for the reinsurance segment
Canadian reinsurance segment's growth prospects by reinsurance ceded from direct insurance
The competitive landscape in the Canadian reinsurance segment
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The Canadian reinsurance segment went through a difficult period in 2013, with increased losses as a result of frequent natural catastrophes. In terms of premium accepted, the segment grew from CAD21.1 billion (US$18.4 billion) in 2009 to CAD27.2 billion (US$26.4 billion) in 2013, at a review-period (2009–2013) compound annual growth rate (CAGR) of 6.6%.
The premium ceded to reinsurance grew consistently during the review period, with the impact of severe natural disasters increasing reinsurance renewal rates. Consequently, the total premium ceded by insurers grew in 2013. The personal accident and health segment ceded the largest share, with 40.7% of the total premium in 2013, followed by life insurers with 27.5% and non-life insurers with 19.3%.
The Canadian reinsurance segment is highly competitive, with both domestic and foreign reinsurers such as Munich Re, Swiss Re, RGA Re, Hannover Re, General Re and Scor Re. The segment is dominated by three companies, Munich Re, Swiss Re (Life Branch) and the RGA Life Reinsurance Company of Canada, which together accounted for 88.4% of the segment's gross written premium in 2013. Munich Re was the largest reinsurer in Canada in 2013, with a 74.8% share.
This report provides a comprehensive analysis of the reinsurance segment in Canada:
It provides historical values for Canada's reinsurance segment for the report's 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
It offers a detailed analysis of the key categories in Canada's reinsurance segment, along with market forecasts until 2018.
It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Canadiand its growth prospects.
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Reasons to buy
Make strategic business decisions using in-depth historic and forecast market data related to the Canadian reinsurance segment and each sector within it
Understand the demand-side dynamics, key market trends and growth opportunities in the Canadian reinsurance segment
Identify the growth opportunities and market dynamics in key product categories
Gain insights into key regulations governing the Canadian insurance industry, and their impact on companies and the industry's future
The Canadian reinsurance segment went through a difficult period in 2013, with increased losses as a result of frequent natural catastrophes.
In terms of premium accepted, the segment grew at a review-period (2009–2013) compound annual growth rate (CAGR) of 6.6%.
The personal accident and health segment ceded the largest share, with 40.7% of the total premium in 2013, followed by life insurers with 27.5% and non-life insurers with 19.3%.
In November 2013, the Office of the Superintendent of Financial Institutions (OSFI) changed the regulation for obtaining approval of an unregistered related party reinsurance agreement between a federally regulated insurer (FRI) and an unregistered reinsurer.
The Canadian reinsurance segment is highly competitive, with the presence of both domestic and foreign reinsurers.
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