Proposed Regulatory Changes in Reinsurance Segment in the Netherlands will Expose New Challenges & Opportunities, Reports Timetric10 Sep 2012 • by Natalie Aster
In terms of written premium, the Netherlands’ insurance industry is one of the global leaders. During the review period (2007–2011) the nation’s reinsurance segment registered varying growth rates on a year-on-year (YOY) basis, due to the adverse impact of the global financial crisis and the subsequent European debt crisis. Overall, the premium ceded to reinsurance recorded a CAGR of 2.2% during the review period. The life and personal accident and healthcare segments recorded an increasing share of the premium ceded to reinsurers. However, the non-life segment, which historically had a reliance on reinsurers for the purposes of sharing risk, recorded a decline in the percentage of premium ceded from 19.5% in 2007 to 15.4% in 2011. This was due to intense competition in the sector, which forced non-life insurers to reduce premiums, affecting the premium ceded to reinsurers.
The market size of the Netherland reinsurance segment is expected to record a CAGR of 5.8% over the forecast period (2012–2016). According to the report “Reinsurance in the Netherlands, Key Trends and Opportunities to 2016” by Timetric, the growth of the reinsurance segment will be primarily driven by a changing market perception towards risk sharing due to uncertain economic conditions. The growth of the segment will also be supported by the increasing written premium values anticipated from the country’s collective insurance industry.
Reinsurance in the Netherlands, Key Trends and Opportunities to 2016
Published: August, 2012 Pages: 105 Price: US$ 1.950,00
The proposed regulatory changes in the reinsurance segment will expose new challenges and opportunities with respect to competitive differentiation. Increased levels of consolidation among insurers, on account of Solvency II implementation scheduled in 2014, will impact ceded premiums and retention levels.
More information can be found in the report “Reinsurance in the Netherlands, Key Trends and Opportunities to 2016” by Timetric.
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