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New Market Study Published: Reinsurance in Cyprus, Key Trends and Opportunities to 2017

Recently published research from Timetric, "Reinsurance in Cyprus, Key Trends and Opportunities to 2017", is now available at Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 04/11/2014 -- The Cypriot reinsurance segment registered a compound annual growth rate (CAGR) of 8.1% during the review period (2008-2012). The primary application of reinsurance in Cyprus is to manage exposure to weather-related events. Although not particularly vulnerable to natural disasters, Cyprus is highly exposed to floods, storms, extreme temperatures and earthquakes. The majority of reinsurance revenues are generated from the non-life segment, which ceded an average of 35.0% of its written premium during the review period, compared with 11.8% and 24.8% for the life and personal accident and health segments. A decline in economic activities has kept industrial, commercial and private insurance property rates almost flat. Motor insurance rates also came under pressure due to a sharp drop in demand in the automobile sector. The implementation of infrastructure projects such as oil and gas, and leisure-related projects will support demand for reinsurance over the forecast period.

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Report Highlights

- The Cypriot reinsurance segment registered a compound annual growth rate (CAGR) of 8.1% during the review period
- The primary application of reinsurance in the Cyprus is to manage exposure to weather-related events
- The Cypriot insurance and reinsurance segment is highly competitive, with numerous domestic and foreign insurers operating on the island
- The absence of any major natural disasters, coupled with stable capacity, meant that Cypriot reinsurance renewal rates remained almost flat

Report Scope

This report provides a comprehensive analysis of the reinsurance segment in Cyprus:

- It provides historical values for Cyprus's reinsurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key sub-segments in Cyprus's reinsurance segment, along with market forecasts until 2017.
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Cyprus and its growth prospects.
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Reasons to Get this Report

- Make strategic business decisions using in-depth historic and forecast market data related to the Cypriot reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Cypriot reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Cypriot insurance industry and its impact on companies and the market's future"

Companies Mentioned in this Report: Flagstone Alliance Insurance and Reinsurance Public Company Ltd, Atlantic Insurance Company, Trust International Insurance and Reinsurance (Trust), Grawe Reinsurance Ltd, GIPS Insurance Brokers Ltd (GIPS)

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