Spain Reinsurance Industry 2014 Market Forecast and Analysis To 2018 by Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 10/14/2015 -- Synopsis
The Spanish reinsurance segment's growth prospects by reinsurance category
Key drivers for the reinsurance segment
Spanish reinsurance segment's growth prospects by reinsurance ceded from direct insurance
The competitive landscape in the Spanish reinsurance segment
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Despite the global financial and European debt crises, the Spanish reinsurance segment registered a review-period (2009?2013) compound annual growth rate (CAGR) of 6.3%. With gradual economic improvement and increasing public confidence in insurance products, the segment is expected to post a forecast-period (2013?2018) CAGR of 5.7%. The Insurance Compensation Consortium (CCS) provides cover for all natural disaster events through a compulsory surcharge based on sums insured, which set a very low requirement for insurers to seek natural disaster reinsurance, which includes unexpected natural and socio-political risks. Reinsurance rates in Spain fell in 2011 and 2012 due to the absence of natural disasters. Treaty reinsurance led the segment during the review period and accounted for a 51.7% share, while facultative reinsurance accounted for 48.3%.
This report provides a comprehensive analysis of the reinsurance segment in Spain:
It provides historical values for Spain'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 Spain's reinsurance segment, along with market forecasts until 2018.
It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Spanishd 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 Spanish reinsurance segment and each sector within it
Understand the demand-side dynamics, key market trends and growth opportunities in the Spanish reinsurance segment
Identify the growth opportunities and market dynamics in key product categories
Gain insights into key regulations governing the Spanish insurance industry, and their impact on companies and the industry's future
Reinsurance in Spain grew during the review period: its written premium increased in 2013, at a review-period CAGR of 6.3%.
Treaty insurance accounted for 51.7% of the total reinsurance ceded in 2013.
A lack of a domestic reinsurer compels national insurers to cede around 70% of their premium to foreign reinsurers.
Due to provisions by the Consorcio de Compensación de Seguros (CCS), there is little need for insurers to seek catastrophic reinsurance, including against unexpected natural and sociopolitical perils.
Regulatory changes are anticipated in the segment due to the implementation of Solvency II, which is expected to provide new challenges and opportunities in terms of competitive differentiation in reinsurance purchases.
The reinsurance segment is expected to grow further over the forecast period at a CAGR of 5.7%.
As of 2013, there were two specialized domestic reinsurers and a few global reinsurers licensed to conduct reinsurance business in Spain. The segment is dominated by domestic reinsurers, Mapfre Re and Nacional de Reaseguros SA.
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