Reinsurance in Australia, Key Trends and Opportunities to 2017

Date: July 19, 2013
Pages: 84
Price:
US$ 1,950.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: R91B577FFFFEN
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Reinsurance in Australia, Key Trends and Opportunities to 2017
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
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
Reasons To Buy
  • Make strategic business decisions using historic and forecast market data related to the Australian reinsurance market and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Australian reinsurance market
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Australian insurance market and its impact on companies and the market's future
Key Highlights
  • The Australian reinsurance segment grew at a CAGR of 0.1% during the review period
  • The written premium of the reinsurance segment is projected to record a CAGR of 6.8% over the forecast period
  • Regulatory requirements will act as a key growth driver for reinsurance
  • Australia has a highly concentrated reinsurance segment
1 EXECUTIVE SUMMARY

2 INTRODUCTION

2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 AUSTRALIAN INSURANCE INDUSTRY ATTRACTIVENESS

3.1 Insurance Industry Size, 2008-2017

4 REINSURANCE GROWTH DYNAMICS AND CHALLENGES

4.1 Reinsurance Segment Size, 2008-2017
4.2 Reinsurance Segment Size by Type of Insurance, 2008-2017

5 KEY INDUSTRY TRENDS AND DRIVERS

5.1 Fundamental Business Drivers
5.2 Life Insurance Segment Drivers
5.3 Non-Life Insurance Segment Drivers
5.4 Personal Accident and Health Insurance Segment Drivers

6 COMPETITIVE LANDSCAPE AND STRATEGIC INSIGHTS

6.1 Overview
6.2 Leading Companies in the Australian Reinsurance Segment
6.3 Comparison of Five Leading Insurers
  6.3.1 Gross Written Premium
  6.3.2 Outwards reinsurance expense
  6.3.3 Net earned premiums
  6.3.4 Gross claims
  6.3.5 Total assets
  6.3.6 Total investment income
6.4 Munich Reinsurance Company of Australasia Ltd - Company Overview
  6.4.1 Munich Reinsurance Company Of Australasia Ltd- key facts
  6.4.2 Munich Reinsurance Company Of Australasia Ltd- key financial analysis
6.5 Swiss Re Life & Health Australia Ltd. - Company Overview
  6.5.1 Swiss Re Life & Health Australia Ltd. - key facts
  6.5.2 Swiss Re Life & Health Australia Ltd. - key financial analysis
6.6 HannoverLife Re of Australasia Ltd - Company Overview
  6.6.1 Hannover Life Re of Australasia Ltd- key facts
  6.6.2 Hannover Life Re of Australasia Ltd- key financial analysis
6.7 Scor Reinsurance Asia-Pacific Pte Ltd. - Company Overview
  6.7.1 Scor Reinsurance Asia-Pacific Pte Ltd. - key facts
  6.7.2 Scor Reinsurance Asia-Pacific Pte Ltd - key financial analysis
6.8 General Reinsurance Australia Ltd - Company Overview
  6.8.1 General Reinsurance Australia Ltd - key facts
  6.8.2 General Reinsurance Australia Ltd - key financial analysis

7 BUSINESS ENVIRONMENT AND COUNTRY RISK

7.1 Business Confidence
  7.1.1 Market capitalization trend - Australian Securities Exchange, Australia
7.2 Economic Performance
  7.2.1 GDP at constant prices (US$)
  7.2.2 GDP per capita at constant prices (US$)
  7.2.3 GDP at current prices (US$)
  7.2.4 GDP per capita at current prices (US$)
  7.2.5 GDP by key segments
  7.2.6 Agriculture net output at current prices (AUD)
  7.2.7 Agriculture net output at current prices (US$)
  7.2.8 Agriculture net output at current prices as a percentage of GDP
  7.2.9 Manufacturing net output at current prices (AUD)
  7.2.10 Manufacturing net output at current prices (US$)
  7.2.11 Manufacturing net output at current prices as a percentage of GDP
  7.2.12 Mining, manufacturing and utilities net output at current prices (AUD)
  7.2.13 Mining, manufacturing and utilities at current prices (US$)
  7.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP
  7.2.15 Construction net output at current prices (AUD)
  7.2.16 Construction net output at current prices, (US$)
  7.2.17 Construction net output at current prices as a percentage of GDP
  7.2.18 Inflation rate
  7.2.19 Exports as a percentage of GDP
  7.2.20 Imports as a percentage of GDP
  7.2.21 Exports growth
  7.2.22 Imports growth
  7.2.23 Annual average exchange rate AUD-US$
7.3 Infrastructure
  7.3.1 Commercial vehicles exports total value
  7.3.2 Commercial vehicles imports total value
  7.3.3 Automotive Components exports total value
  7.3.4 Automotive components imports total value
  7.3.5 Total internet subscribers
7.4 Labor Force
  7.4.1 Labor force
  7.4.2 Unemployment rate
7.5 Demographics
  7.5.1 Gross national disposable income (US$)
  7.5.2 Total population
  7.5.3 Urban and rural population
  7.5.4 Median age of population
  7.5.5 Age distribution of the total population

8 APPENDIX

8.1 Methodology
8.2 Contact Us
8.3 About Timetric
8.4 Disclaimer


LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: Australian Insurance - Overall Written Premium by Segment (AUD Billion), 2008-2012
Table 3: Australian Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 4: Australian Insurance - Overall Written Premium by Segment (AUD Billion), 2012-2017
Table 5: Australian Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 6: Australian Insurance - Segmentation (% Share), 2008-2017
Table 7: Reinsurance in Australia by Category (AUD Billion), 2008-2012
Table 8: Reinsurance in Australia by Category (US$ Billion), 2008-2012
Table 9: Reinsurance in Australia by Category (AUD Billion), 2012-2017
Table 10: Reinsurance in Australia by Category (US$ Billion), 2012-2017
Table 11: Australian Premium Ceded to Reinsurance by Type of Insurance (AUD Billion), 2008-2012
Table 12: Australian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 13: Australian Premium Ceded to Reinsurance by Type of Insurance (AUD Billion), 2012-2017
Table 14: Australian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 15: Australian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 16: Australian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 17: Australian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 18: Australian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 19: Australian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 20: Australian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 21: Australian Reinsurance - Segment Shares (%), 2007-2012
Table 22: Munich Reinsurance Company of Australasia Ltd, Key Facts
Table 23: Munich Reinsurance Company of Australasia Ltd, Key Financial Analysis (AUD Million)
Table 24: Swiss Re Life & Health Australia Ltd, Key Facts
Table 25: Swiss Re Life & Health Australia Ltd, Key Financials (AUD Million)
Table 26: Hannover Life Re of Australasia Ltd, Key Facts
Table 27: Hannover Life Re of Australasia Ltd, Key Financial Analysis (AUD Million)
Table 28: Scor Reinsurance Asia-Pacific Pte Ltd, Key Facts
Table 29: Scor Reinsurance Asia-Pacific Pte Ltd, Key Financial Analysis (AUD Million)
Table 30: General Reinsurance Australia Ltd, Key Facts
Table 31: General Reinsurance Australia Ltd, Key Financial Analysis (AUD Million)

LIST OF FIGURES

Figure 1: Australian Insurance - Overall Written Premium by Segment (AUD Billion), 2008-2017
Figure 2: Australian Insurance - Dynamics by Segment, 2008-2017
Figure 3: Australian Premium Ceded to Reinsurance by Category (AUD Billion), 2008-2017
Figure 4: Australian Premium Ceded to Reinsurance by Category (% Share), 2012 and 2017
Figure 5: Australian Reinsurance - Dynamics by Category, 2008-2017
Figure 6: Australian Premium Ceded to Reinsurance by Type of Insurance (AUD Billion), 2008-2017
Figure 7: Australian Reinsurance - Dynamics by Type of Insurance, 2008-2017
Figure 8: Australian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 9: Australian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 10: Australian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 11: Australian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 12: Australian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 13: Australian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 14: Australian Reinsurance - Segment Shares (%), 2010 and 2012
Figure 15: Gross Written Premium - Top Five Australian Reinsurers (AUD Billion), 2012
Figure 16: Outward Reinsurance Expense - Top Five Australian Reinsurers (AUD Billion), 2012
Figure 17: Net Earned Premium - Top Five Australian Reinsurers (AUD Billion), 2012
Figure 18: Gross Claims - Top Five Australian Reinsurers (AUD Billion), 2012
Figure 19: Total Assets - Top Five Australian Reinsurers (AUD Billion), 2012
Figure 20: Total Investment Income - Top Five Australian Reinsurers (AUD Billion), 2012
Figure 21: Australian Stock Exchange Market Capitalization (US$ billion), 2007-2011
Figure 22: Australian GDP at Constant Prices (US$ Billion), 2007-2011
Figure 23: Australian GDP Per Capita at Constant Prices (US$), 2007-2011
Figure 24: Australian GDP at Current Prices (US$ Billion), 2007-2011
Figure 25: Australian GDP Per Capita at Current Prices (US$), 2007-2011
Figure 26: Australian GDP by Key Segments (%) 2007 and 2010
Figure 27: Australian Agriculture Net Output At Current Prices (AUD Billion), 2007-2011
Figure 28: Australian Agriculture Net Output At Current Prices (US$ Billion), 2007-2011
Figure 29: Australian Agriculture Net Output At Current Prices As a Percentage of GDP (%), 2007-2011
Figure 30: Australian Manufacturing Net Output at Current Prices (AUD Billion), 2007-2011
Figure 31: Australian Manufacturing Net Output at Current Prices (US$ Billion), 2007-2011
Figure 32: Australian Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 33: Australian Mining, Manufacturing and Utilities Net Output at Current Prices (AUD Billion), 2007-2011
Figure 34: Australian Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007-2011
Figure 35: Australian Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2007-2011
Figure 36: Australian Construction Net Output at Current Prices (AUD Billion), 2007-2011
Figure 37: Australian Construction Net Output at Current Prices (US$ Billion), 2007- 2011
Figure 38: Australian Construction Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 39: Australian Inflation Rate (%), 2007-2011
Figure 40: Australian Exports as a Percentage of GDP (%), 2007-2011
Figure 41: Australian Imports as a Percentage of GDP (%), 2007-2011
Figure 42: Australian Exports Growth (%), 2007-2011
Figure 43: Australian Imports Growth (%), 2007-2011
Figure 44: Australian Annual Average Exchange Rate US$-AUD, 2007-2011
Figure 45: Australian Commercial Vehicles Exports Total Value (US$ million), 2007-2011
Figure 46: Australian Commercial Vehicles Imports Total Value (US$ million), 2007-2011
Figure 47: Australian Automotive Components Exports Total Value (US$ billion), 2007-2011
Figure 48: Australian Automotive Components Imports Total Value (US$ billion), 2007-2011
Figure 49: Australian Internet Subscriptions (Millions), 2007-2011
Figure 50: Australian Size of Labor Force in 15-59 Age Group (Million), 2007-2011
Figure 51: Australian Unemployment Rate (%), 2007-2011
Figure 52: Australian Gross National Disposable Income (US$ Billion), 2007-2011
Figure 53: Australian Total Population (Million), 2007-2011
Figure 54: Australian Urban and Rural Population (%), 2007-2011
Figure 55: Australian Median Age of Population (Year), 2007-2011
Figure 56: Australian Population Distribution by Age (%), 2007-2011

COMPANIES MENTIONED

Munich Reinsurance Company of Australasia Ltd
Swiss Reinsurance Company Ltd
Hannover Life Re of Australasia Ltd
Scor Reinsurance Asia-Pacific Pte Ltd
General Reinsurance Australia Ltd

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