Reinsurance in Finland, Key Trends and Opportunities to 2019

Published: Jun, 2016 | Pages: 40 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

"Timetric’s 'Reinsurance in Finland, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Finnish reinsurance segment. It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2010–2014) and forecast period (2014–2019).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the Finnish economy and demographics, and provides detailed analysis of natural hazards and their impact on the Finnish insurance industry. 

The report brings together Timetric’s research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Summary

Timetric’s 'Reinsurance in Finland, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Finnish reinsurance segment, including:

• The Finnish reinsurance segment’s growth prospects by reinsurance ceded from direct insurance

• A comprehensive overview of the Finnish economy and demographics 

• Detailed analysis of natural hazards and their impact on the Finnish insurance industry

• The competitive landscape in the Finnish reinsurance segment

Scope

This report provides a comprehensive analysis of the reinsurance segment in Finland:

• It provides historical values for the Finnish reinsurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

• It offers a detailed analysis of the key categories in the Finnish reinsurance segment, and market forecasts to 2019.

• It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Finland, and the reinsurance segment's growth prospects.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Finnish reinsurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Finnish reinsurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Finnish insurance industry, and their impact on companies and the industry's future.

Key Highlights

• During the review period, the premium accepted recorded a CAGR of 3.1%, supported by growth in the insurance industry.

• Storms and flooding are primary concerns for Finnish insurers.

• The minimum capital requirements for reinsurance companies in Finland are much lower than for insurance companies.

• European Insurance and Occupational Pensions Authority (EIOPA) issued guidelines on the application of outward reinsurance arrangements to the non-life catastrophe risk sub-module, which are effective from April 1, 2015.

• Solvency II was implemented on January 1, 2016.

 Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Reinsurance Growth Dynamics and Challenges
4.1 Reinsurance Segment Size, 2010–2019
4.2 Reinsurance Segment Size by Premium Ceded, 2010–2019

5 Key Industry Drivers
5.1 Reinsurance Drivers
5.2 Life Insurance Drivers
5.3 Non-Life Insurance Drivers
5.4 Personal Accident and Health Insurance Drivers

6 Natural Hazards
6.1 Flooding
6.2 Storms
6.3 Earthquakes
6.4 Extreme Temperatures
6.5 Exposure to Natural Hazards

7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Key Companies in the Finnish Reinsurance Segment
7.2.1 LocalTapiola General Mutual Insurance Company – company overview
7.2.2 OP Insurance Ltd – company overview
7.2.3 If P&C Insurance Company Ltd – company overview
7.2.4 Mandatum Life Insurance Company Ltd – company overview

8 Definitions and Methodology
8.1 Definitions
8.2 Methodology

9 Appendix
9.1 Contact Timetric
9.2 About Timetric
9.3 Timetric’s Services
9.4 Disclaimer

List of Tables

Table 1: Finnish Reinsurance Segment – Key Facts, 2014
Table 2: Finnish Humanitarian Aid by Country, 2015
Table 3: Finnish Government Credit Ratings
Table 4: Finnish Reinsurance – Premium Written (EUR Million), 2010–2015
Table 5: Finnish Reinsurance – Premium Accepted (EUR Million and US$ Million), 2010–2014
Table 6: Finnish Reinsurance – Premium Accepted (EUR Million and US$ Million), 2014–2019
Table 7: Finnish Reinsurance – Premium Ceded by Type of Insurance (EUR Million), 2010–2014
Table 8: Finnish Reinsurance – Premium Ceded by Type of Insurance (US$ Million), 2010–2014
Table 9: Finnish Reinsurance – Premium Ceded by Type of Insurance (EUR Million), 2014–2019
Table 10: Finnish Reinsurance – Premium Ceded by Type of Insurance (US$ Million), 2014–2019
Table 11: Finnish Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014
Table 12: Finnish Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019
Table 13: Finnish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014
Table 14: Finnish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019
Table 15: Finnish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2010–2014
Table 16: Finnish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2014–2019
Table 17: Finnish Insurance Industry – Seasonal Weather Conditions
Table 18: Finnish Insurance industry – Earthquakes, 2010–2015
Table 19: Finnish Reinsurance – Segment Shares (%), 2014
Table 20: LocalTapiola General Mutual Insurance Company – Key Facts
Table 21: OP Insurance Ltd – Key Facts
Table 22: If P&C Insurance Company Ltd – Key Facts
Table 23: Mandatum Life Insurance Company Ltd – Key Facts
Table 24: Insurance Industry Definitions

List of Figures

Figure 1: Finnish Real GDP (EUR Billion), 2010–2019
Figure 2: EUR – US$ Exchange Rate, 2010–2019
Figure 3: Finnish Consumer Price Inflation, 2010–2019
Figure 4: Finnish Current Account Balance as Percentage of GDP (%), 2010–2014
Figure 5: Finnish Unemployment Rate, 2010–2019
Figure 6: Finnish Population by Age Group, 1991–2025
Figure 7: Finnish Reinsurance – Premium Accepted (EUR Million), 2010–2019
Figure 8: Finnish Reinsurance – Premium Ceded by Type of Insurance (EUR Million), 2010–2019
Figure 9: Finnish Reinsurance – Premium Ceded Dynamics by Type of Insurance, 2010–2019
Figure 10: Finnish Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014
Figure 11: Finnish Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019
Figure 12: Finnish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014
Figure 13: Finnish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019
Figure 14: Finnish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2010–2014
Figure 15: Finnish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2014–2019
Figure 16: Finnish Frequency of Hazards by Type, 1990–2014
Figure 17: Finnish Earthquakes Recorded by Region, June 2013 – May 2016