New Market Report: Non-Life Insurance in New Zealand, Key Trends and Opportunities to 2016
New Zealand’s operating environment for the non-life insurance segment went through a significant setback in the wake of the Darfield and Christchurch earthquakes. Losses of this magnitude are a market changing event, and had an adverse affect on non-life insurers, forcing some to exit the market entirely and others to curtail their business exposure. The key challenge faced by non-life insurers is gaining access to reinsurance. Reinsurance costs increased substantially, forcing insurers to raise their rates. Aside from natural disasters,...
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