Reinsurance in Cyprus, Key Trends and Opportunities to 2017

Published: Mar, 2014 | Pages: 57 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into the Cypriot reinsurance segment, including:
The Cypriot reinsurance segment's growth prospects by reinsurance categories 
Key trends and drivers for the reinsurance segment 
The Cypriot reinsurance segment's growth prospects by reinsurance ceded from direct insurance segments
The competitive landscape in the Cypriot reinsurance segment  

Summary
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.  
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.  
Reason To Buy
 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 
Key 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

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Cypriot Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2008-2017
4 Reinsurance Growth Dymics and Challenges
4.1 Reinsurance Segment Size, 2008-2017
5 Key Industry Trends and Drivers
5.1 Fundamental Business Drivers
5.2 Life Insurance Segment Drivers
5.3 Non-Life Insurance Segment Drivers
5.4 Persol Accident and Health Insurance Segment Drivers
6 Competitive Landscape and Strategic Insights
6.1 Flagstone Alliance Insurance and Reinsurance Public Company Ltd - Company Overview
6.1.1 Flagstone Alliance Insurance and Reinsurance Public Company Ltd - key facts
6.2 Atlantic Insurance Company - Company Overview
6.2.1 Atlantic Insurance Company - key facts
6.3 Trust Intertiol Insurance and Reinsurance (Trust) - Company Overview
6.3.1 Trust Intertiol Insurance and Reinsurance (Trust) - key facts
6.4 Grawe Reinsurance Ltd - Company Overview
6.4.1 Grawe Reinsurance Ltd - key facts
6.5 GIPS Insurance Brokers Ltd - Company Overview
6.5.1 GIPS Insurance Brokers Ltd - key facts
7 Business Environment and Country Risk
7.1 Business Confidence
7.1.1 Market capitalization trend - Cyprus Stock Exchange (CSE)
7.2 Economic Performance
7.2.1 GDP at constant prices (US$)
7.2.2 GDP per capita at constant prices (US$)
7.2.3 GDP at current prices (US$)
7.2.4 GDP per capita at current prices (US$)
7.2.5 Inflation rate
7.2.6 Merchandise exports as a percentage of GDP
7.2.7 Merchandise imports as a percentage of GDP
7.2.8 Merchandise exports growth
7.2.9 Merchandise imports growth
7.3 Infrastructure
7.3.1 Commercial vehicles exports - total value
7.3.2 Commercial vehicles imports - total value
7.3.3 Automotive exports - total value
7.3.4 Automotive imports - total value
7.3.5 Total internet subscribers
7.4 Labor Force
7.4.1 Labor force
7.4.2 Unemployment rate
7.5 Demographics
7.5.1 Total population
7.5.2 Urban and rural populations
7.5.3 Age distribution of the total population
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Cypriot Insurance - Overall Written Premium by Segment (EUR Million), 2008-2012
Table 3: Cypriot Insurance - Overall Written Premium by Segment (US$ Million), 2008-2012
Table 4: Cypriot Insurance - Overall Written Premium by Segment (EUR Million), 2012-2017
Table 5: Cypriot Insurance - Overall Written Premium by Segment (US$ Million), 2012-2017
Table 6: Cypriot Insurance - Segmentation (% Share), 2008-2017
Table 7: Cypriot Premium Ceded to Reinsurance by Type of Insurance (EUR Million), 2008-2012
Table 8: Cypriot Premium Ceded to Reinsurance by Type of Insurance (US$ Million), 2008-2012
Table 9: Cypriot Premium Ceded to Reinsurance by Type of Insurance (EUR Million), 2012-2017
Table 10: Cypriot Premium Ceded to Reinsurance by Type of Insurance (US$ Million), 2012-2017
Table 11: Cypriot Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 12: Cypriot Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 13: Cypriot Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 14: Cypriot Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 15: Cypriot Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 16: Cypriot Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 17: Flagstone Alliance Insurance and Reinsurance Public Company Ltd - Key Facts
Table 18: Atlantic Insurance Company - Key Facts
Table 19: Trust Intertiol Insurance and Reinsurance (Trust) - Key Facts
Table 20: Grawe Reinsurance Ltd - Key Facts
Table 21: GIPS Insurance Brokers Ltd - Key Facts