During the review period, premium ceded to reinsurance by Italian direct insurers declined consistently, with the exception of a noticeable increase of 5% in 2010 as a result of the 2009 L'Aquila earthquake. The absence of obligatory insurance for natural disasters in the presence of government intervention to cover the losses through ad hoc financing, had the effect of decreasing the written premium value of the Italian reinsurance segment. The Italian reinsurance market is highly competitive and during the review period a number of mergers and acquisitions occurred. In the absence of any domestic reinsurance company, the segment is dominated by multinational reinsurers. Anticipating a significant improvement in the Italian economy, some of the country’s largest reinsurance providers, including Munich Re, Swiss Re and Hannover Re, are preparing themselves for further growth in the Italian reinsurance segment.
Scope
This report provides a comprehensive analysis of the reinsurance market in Italy:
- It provides historical values for the Italian reinsurance market for the review period (2007–2011) and forecast period (2012–2016)
- It offers a detailed analysis of the key sub-segments in the Italian reinsurance market, along with market forecasts until 2016
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in Italy and its growth prospects
- It profiles the top reinsurance companies in Italy
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Report Details:
Published: June 2012
No. of Pages: 96
No. of Pages: 96
Price: Single User License – US$1950 Corporate User License – US$5850
Key highlights
- The Italian reinsurance market is highly competitive and during the review period a number of mergers and acquisitions occurred. In the absence of any domestic reinsurance company, the segment is dominated by multinational reinsurers.
- Inadequate financial support from the Italian government is also expected to support the growth of the Italian reinsurance segment over the forecast period.
- The absence of obligatory insurance for natural disasters in the presence of government intervention to cover the losses through ad hoc financing, had the effect of decreasing the written premium value of the Italian reinsurance segment.
- Regulatory changes in the reinsurance segment will expose new challenges and opportunities with respect to competitive differentiation. Italian reinsurers have become more rigid in terms their underwriting approach. Some of the ceding companies have shown a greater awareness, whereas others have adjusted minimally to meet the new Solvency II requirements.
Reasons to buy
- Make strategic business decisions using in depth historic and forecast market data related to the Italian reinsurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Italian reinsurance market
- Assess the competitive dynamics in the reinsurance market
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Italian insurance market and its impact on companies and the market's future
