The Australian reinsurance market’s growth prospects by reinsurance categories The Australian reinsurance market’s growth prospects by reinsurance ceded from direct insurance segments The competitive landscape in the Australian reinsurance insurance market
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Executive summary During 2011–2012, the Australian reinsurance segment recorded an increase in reinsurance rates due to the catastrophic events that occurred during 2010–2011. Australia was affected by eight large-scale natural disasters in 2010: five floods, a tropical cyclone and two major storms. The worst of these were the Queensland floods that occurred in December 2010. Other regions affected by floods in 2010 were New South Wales, Victoria, South Australia and Western Australia. Again in February 2011, Northern Queensland was affected by Cyclone Yasi, followed by further flooding in Victoria in 2012. The result of the high frequency of natural disasters over these two years was an increase in reinsurance premium rates, which rose by 75% between 2010 and 2012, fueling growth in the overall reinsurance segment. Despite the impact of natural disasters, the reinsurance segment recorded a profit during the review period. The segment grew at a CAGR of 0.1% during the review period. Scope This report provides a comprehensive analysis of the reinsurance market in Australia:
It provides historical values for Australia’s reinsurance market 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 Australia’s reinsurance market, along with market forecasts until 2017 It provides a detailed analysis of the...