Reinsurance in Sweden, Key Trends and Opportunities to 2019

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In 2014, Sweden’s reinsurance segment remained soft, with declining renewal rates and reinsurers offering extended terms and conditions. Excess capacity in the segment led to a 10–15% fall in reinsurance premium prices in 2014. There is also a growing prevalence of multi-year agreements between insurers and reinsurers.

The presence of multinational reinsurers such as German-based Hannover Rück SE (Hannover Re) and Revios Sweden Reinsurance Co. Ltd, a subsidiary of French-based reinsurance group Scor, makes the segment highly competitive. Favorable regulations are expected to result in the entry of more foreign reinsurers, intensifying competition in the segment up to 2019.
The premium accepted by the Swedish reinsurance segment rose from SEK13.2 billion (US$1.8 billion) in 2010 to SEK14.0 billion (US$2.0 billion) in 2014.

Scope

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

• A comprehensive overview of the Swedish economy and associated demographics

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

• The competitive landscape in the Swedish reinsurance segment

• Historical values for the Swedish reinsurance segment for the report’s 2010 to 2014 review period, and projected figures up to 2019

• A detailed analysis of the key categories in the Swedish reinsurance segment, and market forecasts to 2019

Key Highlights

What impact did the high frequency of natural disasters in 2014 have on claims and premiums in the Swedish reinsurance market?

Which players are predominant in Swedish reinsurance and how do they maintain their position in the industry?

What was the CAGR of the premium accepted by the Swedish reinsurance segment during the review period?

Which key industry legislation came into force in Sweden on January 1, 2016?

Which class of insurer is authorized to offer direct insurance and reinsurance under a single license in Sweden?

Reasons to Buy

• Make strategic business decisions in the Swedish reinsurance segment utilizing GlobalData’s in-depth historic and forecast market data

• Evaluate key market drivers and trends to identify new opportunities for growth

• Assess the overall market dynamics to ensure you are best places to maximize your competitive advantage

• Investigate key regulations and other recent developments in the Swedish reinsurance market to ensure you satisfy changing standards of conduct and compliance

Hannover Rück SE
Revios Sweden Reinsurance Co. Ltd

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Introduction

3.1 What is this Report About?

3.2 Definitions

3.3 Methodology

4 Economy and Demographics

5 Reinsurance Growth Dynamics and Challenges

5.1 Reinsurance Segment Size, 2010–2019

5.2 Reinsurance Segment Size by Premium Ceded, 2010–2019

6 Key Industry Drivers

6.1 Reinsurance Drivers

6.2 Life Insurance Drivers

6.3 Non-Life Insurance Drivers

6.4 Personal Accident and Health Insurance Drivers

7 Natural Hazards

7.1 Windstorms

7.2 Flooding

7.3 Wildfire

7.4 Exposure

8 Competitive Landscape and Strategic Insights

8.1 Overview

8.2 Leading Companies in the Swedish Reinsurance Segment

8.3 Hannover Rück SE – company overview

8.4 Revios Sweden Reinsurance Co. Ltd – company overview

9 Appendix

9.1 Methodology

9.2 Contact GlobalData

9.3 About GlobalData

9.4 GlobalData’s Services

9.5 Disclaimer

Table

Table 1: Swedish Reinsurance – Key Facts, 2014

Table 2: Insurance Industry Definitions

Table 3: Swedish Government Credit Ratings

Table 4: Swedish Life Expectancy at Birth, 2010–2014

Table 5: Swedish Number of Households, 2011–2014

Table 6: Swedish Reinsurance – Premium Accepted by Category (SEK Billion), 2010–2014

Table 7: Swedish Reinsurance – Premium Accepted by Category (SEK Billion), 2014–2019

Table 8: Swedish Reinsurance – Premium Ceded by Type of Insurance (SEK Billion), 2010–2014

Table 9: Swedish Reinsurance – Premium Ceded by Type of Insurance (US$ Billion), 2010–2014

Table 10: Swedish Reinsurance – Premium Ceded by Type of Insurance (SEK Billion), 2014–2019

Table 11: Swedish Reinsurance – Premium Ceded by Type of Insurance (US$ Billion), 2014–2019

Table 12: Swedish Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014

Table 13: Swedish Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019

Table 14: Swedish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014

Table 15: Swedish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019

Table 16: Swedish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2010–2014

Table 17: Swedish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2014–2019

Table 18: Swedish Average Annual Loss by Hazard

Table 19: Swedish Number of Flood Related Claims and Paid Claims (SEK Million), 2011–2014

Table 20: Swedish Reinsurance – Leading Companies, 2014

Table 21: Hannover Rück SE – Key Facts

Table 22:Revios Sweden Reinsurance Co. Ltd, Key Facts

Figures

Figure 1: Swedish GDP – Contribution by Sector (%), 2014

Figure 2: Swedish Real GDP (SEK Trillion), 2010–2019

Figure 3: SEK – US$ Exchange Rate, 2010–2019

Figure 4: Swedish Consumer Price Inflation, 2010–2019

Figure 5: Swedish Current Account Balance as a Percentage of GDP (%), 2010–2019

Figure 6: Swedish Unemployment Rate, 2010–2019

Figure 7: Swedish Population by Age Group, 1990–2025

Figure 8: Swedish Immigration and Emigration, 2010–2014

Figure 9: Swedish Reinsurance – Premium Accepted (SEK Billion), 2010–2014

Figure 10: Swedish Reinsurance – Premium Accepted by Category (SEK Billion), 2014–2019

Figure 11: Swedish Reinsurance – Premium Ceded by Type of Insurance (SEK Billion), 2010–2019

Figure 12: Swedish Reinsurance – Premium Ceded Dynamics by Type of Insurance, 2010–2019

Figure 13: Swedish Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014

Figure 14: Swedish Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019

Figure 15: Swedish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2010–2014

Figure 16: Swedish Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2014–2019

Figure 17: Swedish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2010–2014

Figure 18: Swedish Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2014–2019

Figure 19: Swedish Frequency of Hazards by Type, 1990–2014

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