Reinsurance in the uk, key trends and opportunities to 2016
1. Reinsurance in the UK, Key Trends and Opportunities to 2016
During the review period, premium ceded to reinsurance by UK direct insurers grew, with
the exception of a noticeable decline in 2009 as a result of the global financial crisis.
Following European financial liberalization, the UK insurance industry was opened up to
international reinsurers and brokers. The UK reinsurance segment is dominated by domestic
reinsurers, as well as reinsurers from other European countries such as Germany. Due to
the impact of the global financial crisis, the European debt crisis and severe flooding in
2010–2011, renewal prices increased in the UK reinsurance segment. Previously, during
2009–2010, UK reinsurance brokers experienced increased demand from credit insurers
keen to minimize their risk by sharing it with a reinsurer. Furthermore, with the forthcoming
introduction of the Solvency II directive, many insurers are also expected to be dependent
on reinsurers in order to ensure better risk management and retain their market positions.
Key Highlights
• During the review period (2007–2011), the growth in non-life insurance premiums was
fuelled by numerous instances of severe flooding in the UK.
• During the review period, premium ceded to reinsurance by UK direct insurers grew, with
the exception of a noticeable decline in 2009 as a result of the global financial crisis.
• The UK reinsurance segment is dominated by domestic reinsurers, as well as reinsurers
from other European countries such as Germany. Due to the impact of the global financial
crisis, the European debt crisis and severe flooding in 2010–2011, renewal prices increased
in the UK reinsurance segment.
• Anticipating a significant improvement in the UK economy, some of the country’s largest
reinsurance providers, including Lloyd’s, Munich Re and Swiss Re, are preparing themselves
for further growth in the UK reinsurance segment.
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Scope
This report provides a comprehensive analysis of the reinsurance market in the UK:
• It provides historical values for the UK reinsurance market for the report’s 2007–2011
review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in the UK reinsurance market, along
with market forecasts until 2016
• It provides a detailed analysis of the reinsurance ceded from various direct insurance
markets in the UK and its growth prospects
• It profiles the top reinsurance companies in the UK
Major points covered in Table of Contents of this report include:
1 Executive Summary
2 Introduction
3 UK Insurance Industry Attractiveness
2. 4 Key Industry Trends and Drivers
5 Competitive Landscape and Strategic Insights
6 Business Environment and Country Risk
7 Appendix
List of Tables
List of Figures
Report Details:
Published: May 2012
No. of Pages: 101
Price: Single User License – US$1950 Corporate User License – US$3900
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