Challenges and opportunities in life reinsurance in continental Europe
The continental European reinsurers are trying to explore new areas of business in the life insurance and sickness, given the continuous developments and the difficult market conditions.
Prospects for modest growth for traditional reinsurance
While globally the reinsurance growth rate has slowed down significantly, at a European level, the volume of premiums ceded shows a strong contraction. The study from NMG Consulting, covering over 20 major countries shows that premiums ceded to reinsurers declined progressively over the past two years as a result of the decline in direct production and consolidation in some primary markets.
Growth expectations reinsurers therefore remain modest in Western Europe as well as the growth prospects of insurers whose supplies, related to the new production, will remain unchanged at 3% over the next 12 months, lowest value recorded globally. Still it expects a slight recovery in the developing countries of Central and Eastern Europe, although lower than those provided in other emerging markets such as Asia.
Click here to read the full article, as posted by Assinform (Italy).
For more details or to discuss this article in-depth, please contact Paul Ernest (Paul. Ernest@nmg-group.com)