Boston, MA -- (ReleaseWire) -- 02/05/2014 -- Despite the global financial and European debt crises, the Spanish reinsurance segment registered a review-period (2008-2012) CAGR of 9.6%, increasing from EUR3.2 billion (US$4.6 billion) in 2008 to EUR4.6 billion (US$5.9 billion) in 2012. The Insurance Compensation Consortium (CCS) provides cover for all natural disaster events through a compulsory surcharge based on sums insured, which set a very low requirement for insurers to seek natural disaster reinsurance, which includes unexpected natural and socio-political risks. With gradual economic improvement and increasing public confidence in insurance products, the segment is expected to post a forecast-period (2012-2017) CAGR of 7.1%.
- The Spanish reinsurance segment continued to grow at stable rate during the review period, despite the variable nature of the industry during this time.
- Due to provisions by the CCS, there is little need for insurers to seek catastrophic reinsurance, which includes unexpected natural and sociopolitical perils.
- Solvency II implementation is expected to increase demand for reinsurance as minimum capital requirements will rise and firms will concentrate on adopting risk mitigation strategies.
- Reinsurers continue to explore the segment's growth potential.
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This report provides a comprehensive analysis of the reinsurance segment in Spain:
- It provides historical values for Spain'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 sub-segments in Spain's reinsurance segment, along with market forecasts until 2017.
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Spain and its growth prospects.
Reasons to Get This Report
- Make strategic business decisions using in depth historic and forecast market data related to the Spanish reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Spanish reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Spanish insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: Mapfre Re, Nacional de Reaseguros SA, Swiss Re, ACE Tempest Reinsurance Ltd, Banco Santander, SA, XL Re, General Reinsurance AG, Scor Re, RGA Re
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