Boston, MA -- (ReleaseWire) -- 03/03/2014 -- Canadian reinsurance providers recorded negative premium growth during the review period, as a result of low premium growth registered by Canadian insurers which forced them to cut their reinsurance expenses, a low reinsurance-ceding trend, and weak economic development. Written premium in the Canadian reinsurance segment fell from CAD32.8 billion (US$30.7 billion) in 2008 to CAD26.2 billion (US$26.2 billion) in 2012, at a compound annual growth rate (CAGR) of -5.5% during the review period (2008-2012).
- Canadian reinsurance providers recorded negative premium growth during the review period, as a result of a low reinsurance-ceding trend, weak economic development, and low premium growth registered by Canadian insurers which forced them to cut their reinsurance expenses.
- The retention of risk among Canadian insurance providers was high.
- The Reinsurance (Canadian Companies) Regulations and Reinsurance (Foreign Companies) Regulations, which stated that insurance companies cannot cede more than 75% of their gross premiums in total and 25% of their gross premiums to unregistered reinsurers, was repealed by the OFSI, providing insurers with the flexibility to structure operations and compete globally.
- While the Canadian reinsurance segment is expected to register positive growth at a CAGR of 1.0% over the forecast period, it will be limited by the low interest rate environment and weak economic development.
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This report provides a comprehensive analysis of the reinsurance segment in Canada:
- It provides historical values for Canada's reinsurance segment 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 categories in Canada's reinsurance segment, along with market forecasts until 2017.
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Canada and its growth prospects.
Reasons to Get This Report
- Make strategic business decisions using in-depth historic and forecast market data related to the Canadian reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Canadian reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Canadian insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: Munich Reinsurance Company, Swiss Reinsurance Company Ltd (Life Branch), RGA Life Reinsurance Company of Canada, Employers Reassurance Corporation, Partner Reinsurance Europe SE, Axis Reinsurance Company (Canadian Branch)
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