Reinsurance in Greece, Key Trends and Opportunities to 2018

Published: Dec, 2014 | Pages: 75 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The Greek reinsurance segment registered a compound annual growth rate (CAGR) of -5.0% during the review period (2009?2013), due to the affect of the global financial crisis and European sovereign debt crisis. During the review period, the premium ceded to reinsurance by Greek direct insurers decreased at a CAGR of -4.8%. Ceded premium increased briefly in 2009, but fell consistently after that. The global financial crisis and a decline in insurance premium had a negative effect on the premium ceded towards reinsurers; the personal accident and health insurance segment ceded 25.0% of its revenues to reinsurers in 2013, the highest percentage in the industry. In the absence of any large-scale natural disasters, the Greek reinsurance premium declined marginally during the review period. The Greek reinsurance segment is dominated by treaty reinsurance, which accounted for 81.3% of written premium in 2013, with facultative reinsurance accounting for the remaining 18.7%. During the review period, the treaty reinsurance category recorded a CAGR of -3.8%, whereas facultative reinsurance recorded a CAGR of -8.5%.

Summary
The report provides in-depth market analysis, information and insights into the Greek reinsurance segment, including:

 The Greek reinsurance segment's growth prospects by reinsurance category

 Key trends and drivers for the reinsurance segment 

 Greek reinsurance segment's growth prospects by reinsurance ceded from direct insurance

 The competitive landscape in the Greek reinsurance segment

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

 It provides historical values for Greece's reinsurance segment for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.

 It offers a detailed analysis of the key categories in Greece's reinsurance segment, along with market forecasts until 2018.

 It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Greekd its growth prospects.

Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the Greek reinsurance segment and each sector within it

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

 Identify the growth opportunities and market dynamics in key product categories

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

Key Highlights
 In the absence of any major natural disasters, and following the economic impact of the global financial and eurozone sovereign debt crises, the amount of premium ceded to reinsurers decreased at a review-period CAGR of -4.8%. 

 The segment is dominated by treaty reinsurance, which accounted for a market share of 81.3% in written premium terms in 2013; facultative reinsurance accounted for the remaining 18.7%. 

 Every reinsurance company domiciled in Greece has to be incorporated as a SociEtE Anonyme (SA) or mutual reinsurance cooperative.

 The Greek insurance industry is expected to recover over the forecast period (2013-2018), registering a CAGR of 1.7% over the forecast period. 

 The reinsurance segment is governed by Legislative Decree 400/1970. 

 The regulatory changes in the reinsurance segment supplied new challenges and opportunities with respect to competitive differentiation.

 
Table of Contents
1 Key Facts and Events
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Greek Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009-2018
5 Reinsurance Growth Dynamics and Challenges
5.1 Reinsurance Segment Size, 2009-2018
5.2 Reinsurance Segment Size by Type of Insurance, 2009-2018
6 Key Industry Trends and Drivers
6.1 Fundamental Business Drivers
6.2 Life Insurance Drivers
6.3 Non-Life Insurance Drivers
6.4 Personal Accident and Health Insurance Drivers
7 Appendix - 1
7.1 Business Confidence
7.1.1 Market capitalization trend - Athens Stock Exchange, Greece
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 GDP by key sector
7.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
7.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
7.2.8 Manufacturing net output at current prices (US$)
7.2.9 Manufacturing net output at current prices as a percentage of GDP
7.2.10 Mining, manufacturing and utilities at current prices (US$)
7.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
7.2.12 Construction net output at current prices, (US$)
7.2.13 Construction net output at current prices as a percentage of GDP
7.2.14 Inflation rate
7.2.15 Exports as a percentage of GDP
7.2.16 Imports as a percentage of GDP
7.2.17 Merchandise exports growth
7.2.18 Merchandise imports growth
7.2.19 Annual average exchange rate, Euro-US$
7.3 Infrastructure
7.3.1 Commercial vehicle exports - total value
7.3.2 Commercial vehicle 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 Gross national disposable income (US$)
7.5.2 Household consumption expenditure (US$)
7.5.3 Total population
7.5.4 Urban and rural populations
7.5.5 Age distribution of the total population
8 Appendix - 2
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer


List of Tables
Table 1: Greek Reinsurance - Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Greek Insurance - Gross Written Premium by Segment (EUR Billion), 2009-2013
Table 4: Greek Insurance - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 5: Greek Insurance - Gross Written Premium by Segment (EUR Billion), 2013-2018
Table 6: Greek Insurance - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 7: Greek Insurance - Segmentation, Gross Written Premium (Percentage Share), 2009-2018
Table 8: Greek Insurance - Direct Written Premium by Segment (EUR Billion), 2009-2013
Table 9: Greek Insurance - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 10: Greek Insurance - Direct Written Premium by Segment (EUR Billion), 2013-2018
Table 11: Greek Insurance - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 12: Greek Insurance - Segmentation, Direct Written Premium (Percentage Share), 2009-2018
Table 13: Greek Reinsurance - Premium Accepted by Category (EUR Million), 2009-2013
Table 14: Greek Reinsurance - Premium Accepted by Category (US$ Million), 2009-2013
Table 15: Greek Reinsurance - Premium Accepted by Category (EUR Million), 2013-2018
Table 16: Greek Reinsurance - Premium Accepted by Category (US$ Million), 2013-2018
Table 17: Greek Reinsurance - Premium Ceded by Type of Insurance (EUR Billion), 2009-2013
Table 18: Greek Reinsurance - Premium Ceded by Type of Insurance (US$ Billion), 2009-2013
Table 19: Greek Reinsurance - Premium Ceded by Type of Insurance (EUR Billion), 2013-2018
Table 20: Greek Reinsurance - Premium Ceded by Type of Insurance (US$ Billion), 2013-2018
Table 21: Greek Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 22: Greek Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 23: Greek Non-Life Insurance - Percentage of Reinsurance Ceded, 2009-2013
Table 24: Greek Non-Life Insurance - Percentage of Reinsurance Ceded, 2013-2018
Table 25: Greek Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 26: Greek Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018