2014-03-18 06:59:01 - Reinsurance in Japan, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
In terms of gross written premium, the Japanese reinsurance segment declined from JPY6.8 trillion (US$66.0 billion) in 2008 to JPY4.9 trillion (US$61.8 billion) in 2012, at a CAGR of -7.8% during the review period (2008â2012). The decline was partly due to the economic slowdown, the global financial crisis, and natural disasters.
However, the earthquake and nuclear disaster in 2011 forced insurers, especially those offering property and earthquake cover, to reassess their risk positions. This, coupled with improvements in the conventional insurance industry, is likely to generate substantial business for the reinsurance segment over the forecast period. The segment´s written premium is projected to record a CAGR of 1.5% over the forecast period (2013â2017).
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