ReportsnReports - Reinsurance in the UK, Key Trends and Opportunities to 2016
11-May-2012 | News-Press Release
During the review period, premium ceded to reinsurance by UK direct insurers grew, with the exception of a noticeable decline in 2009 as a result of the global financial crisis. Following European financial liberalization, the UK insurance industry was opened up to international reinsurers and brokers. The UK reinsurance segment is dominated by domestic reinsurers, as well as reinsurers from other European countries such as Germany. Due to the impact of the global financial crisis, the European debt crisis and severe flooding in 2010–2011, renewal prices increased in the UK reinsurance segment. Previously, during 2009–2010, UK reinsurance brokers experienced increased demand from credit insurers keen to minimize their risk by sharing it with a reinsurer. Furthermore, with the forthcoming introduction of the Solvency II directive, many insurers are also expected to be dependent on reinsurers in order to ensure better risk management and retain their market positions.
• During the review period (2007–2011), the growth in non-life insurance premiums was fuelled by numerous instances of severe flooding in the UK.
• During the review period, premium ceded to reinsurance by UK direct insurers grew, with the exception of a noticeable decline in 2009 as a result of the global financial crisis.
• The UK reinsurance segment is dominated by domestic reinsurers, as well as reinsurers from other European countries such as Germany. Due to the impact of the global financial crisis, the European debt crisis and severe flooding in 2010–2011, renewal prices increased in the UK reinsurance segment.
• Anticipating a significant improvement in the UK economy, some of the country’s largest reinsurance providers, including Lloyd’s, Munich Re and Swiss Re, are preparing themselves for further growth in the UK reinsurance segment.
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This report provides a comprehensive analysis of the reinsurance market in the UK:
• It provides historical values for the UK reinsurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in the UK reinsurance market, along with market forecasts until 2016
• It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in the UK and its growth prospects
• It profiles the top reinsurance companies in the UK
Major points covered in Table of Contents of this report include:
1 Executive Summary
3 UK Insurance Industry Attractiveness
4 Key Industry Trends and Drivers
5 Competitive Landscape and Strategic Insights
6 Business Environment and Country Risk
List of Tables
List of Figures
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