Synopsis
The report provides in depth market
analysis, information and insights into the Australian reinsurance market,
including:
- The Australian reinsurance market’s growth prospects by reinsurance categories
- The Australian reinsurance market’s growth prospects by reinsurance ceded from direct insurance segments
- The competitive landscape in the Australian reinsurance insurance market
To
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Executive summary
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.
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
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