Synopsis

The report provides in depth market analysis, information and insights into the Singaporean reinsurance segment, including:
• The Singaporean reinsurance segment's growth prospects by reinsurance categories
• Key trends and drivers for the reinsurance segment
• The Singaporean reinsurance segment’s growth prospects by reinsurance ceded from direct insurance segments
• The competitive landscape in the Singaporean reinsurance segment

Summary

Singapore’s reinsurance segment grew at a CAGR of 17.5% during the review period, partially due to increasing risk awareness and expansion of the insurance industry, with insurers ceding a higher percentage of their revenue to reinsurers. Growth was also supported by an increased demand for reinsurance in key offshore markets following floods in Australia, China and Thailand, earthquakes in New Zealand and Japan, and a tsunami in Japan, all of which made insurers in the affected countries keen to cede a greater proportion of their premiums to reinsurance firms to avoid significant losses in the event of future natural disasters.

Scope

This report provides a comprehensive analysis of the reinsurance segment in Singapore:
• It provides historical values for Singapore’s reinsurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
• It offers a detailed analysis of the key categories in Singapore’s reinsurance segment, along with market forecasts until 2017
• It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Singapore and its growth prospects


Reasons To Buy

• Make strategic business decisions using in depth historic and forecast market data related to the Singaporean reinsurance segment and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Singaporean reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Singaporean insurance industry and its impact on companies and the market's future

Key Highlights

• Singapore’s reinsurance segment grew at a CAGR of 17.5% during the review period
• The Singaporean government offers incentives to reinsurers through its Offshore Insurance Business (OIB) scheme
• Singapore is rapidly becoming a regional hub for reinsurance, with reinsurers operating in the country generating significant proportions of their total revenues from overseas markets
• The reinsurance segment is highly competitive, and acts as a hub for international insurance providers. It is the main reinsurance market of the Association of South-East Asian Nations (ASEAN), and is heavily dependent on offshore business

Table Of Contents

Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Singaporean Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2008-2017
4 Reinsurance Growth Dynamics and Challenges
4.1 Reinsurance Segment Size, 2008-2017
4.2 Reinsurance segment size by type of insurance, 2008-2017
5 Key Industry Trends and Drivers
5.1 Fundamental Business Drivers
5.2 Life Insurance Segment Drivers
5.3 Non-Life Insurance Segment Drivers
5.4 Personal Accident and Health Insurance Segment Drivers
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Singaporean Reinsurance Segment
6.3 Comparison of the Top Five Insurers
6.3.1 Gross written premium
6.3.2 Gross claims
6.3.3 Paid claims
6.3.4 Total assets
6.4 Munich Reinsurance Company Singapore - Company Overview
6.4.1 Munich Reinsurance Company Singapore - key facts
6.4.2 Munich Reinsurance Company Singapore - key financials
6.5 Allianz SE Reinsurance Branch Asia-Pacific - Company Overview
6.5.1 Allianz SE Reinsurance Branch Asia Pacific - key facts
6.5.2 Allianz SE Reinsurance Branch Asia Pacific - key financials
6.6 Asia Capital Reinsurance Group Pte Ltd - Company Overview
6.6.1 Asia Capital Reinsurance Group Pte Ltd - key facts
6.6.2 Asia Capital Reinsurance Group Pte Ltd - key financials
6.7 Swiss Reinsurance Company Ltd - Company Overview
6.7.1 Swiss Reinsurance Company Ltd - key facts
6.7.2 Swiss Reinsurance Company Ltd - key financials
6.8 Everest Reinsurance Company - Company Overview
6.8.1 Everest Reinsurance Company - key facts
6.8.2 Everest Reinsurance Company - key financials
6.1 IAG Re Singapore Pte. Ltd. - Company Overview
6.1.1 IAG Re Singapore Pte. Ltd. - key facts
6.1.2 IAG Re Singapore Pte. Ltd. - key financials
6.2 Odyssey Reinsurance Company - Company Overview
6.2.1 Odyssey Reinsurance Company - key facts
6.2.2 Odyssey Reinsurance Company - key financials
6.3 Scor Reinsurance Asia-Pacific Pte Ltd - Company Overview
6.3.1 Scor Reinsurance Asia-Pacific Pte Ltd - key facts
6.3.2 Scor Reinsurance Asia-Pacific Pte Ltd - key financials
6.4 Singapore Reinsurance Corp. Ltd - Company Overview
6.4.1 Singapore Reinsurance Corp. Ltd - key facts
6.4.2 Singapore Reinsurance Corp. Ltd - key financials
6.5 Korean Reinsurance Company - Company Overview
6.5.1 Korean Reinsurance Company - key facts
7 Business Environment and Country Risk
7.1 Business Confidence
7.1.1 Market capitalization trend - Singapore Exchange Ltd (SGX), Singapore
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 segments
7.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
7.2.7 Manufacturing net output at current prices (US$)
7.2.8 Manufacturing net output at current prices as a percentage of GDP
7.2.9 Mining, manufacturing and utilities at current prices (US$)
7.2.10 Mining, manufacturing and utilities at current prices, as a percentage of GDP
7.2.11 Construction net output at current prices (US$)
7.2.12 Construction net output at current prices as a percentage of GDP
7.2.13 Inflation rate
7.2.14 Exports as a percentage of GDP
7.2.15 Imports as a percentage of GDP
7.2.16 Exports growth
7.2.17 Imports growth
7.2.18 Annual average exchange rate US$-SGD
7.3 Infrastructure
7.3.1 Commercial vehicles exports - total value
7.3.2 Commercial vehicles imports - total value
7.3.3 Automotive exports total value
7.3.4 Automotive imports - total value
7.3.5 Total internet subscribers
7.4 Labor Force
7.4.1 Labor force
7.5 Demographics
7.5.1 Gross national disposable income (US$)
7.5.2 Total population
7.5.3 Age distribution of the total population
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer
8.6 Disclaimer



List of Tables

Table 1: Insurance Industry Definitions
Table 2: Singaporean Insurance - Overall Written Premium by Segment (SGD Billion), 2008-2012
Table 3: Singaporean Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 4: Singaporean Insurance - Overall Written Premium by Segment (SGD Billion), 2012-2017
Table 5: Singaporean Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 6: Singaporean Insurance - Segmentation (Percentage Share), 2008-2017
Table 7: Reinsurance in Singapore by Category (SGD Billion), 2008-2012
Table 8: Reinsurance in Singapore by Category (US$ Billion), 2008-2012
Table 9: Reinsurance in Singapore by Category (SGD Billion), 2012-2017
Table 10: Reinsurance in Singapore by Category (US$ Billion), 2012-2017
Table 11: Singaporean Premium Ceded to Reinsurance by Type of Insurance (SGD Billion), 2008-2012
Table 12: Singaporean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 13: Singaporean Premium Ceded to Reinsurance by Type of Insurance (SGD Billion), 2012-2017
Table 14: Singaporean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 15: Singaporean Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 16: Singaporean Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 17: Singaporean Non-Life Insurance - Percentage of Reinsurance Ceded, 2008-2012
Table 18: Singaporean Non-Life Insurance - Percentage of Reinsurance Ceded, 2012-2017
Table 19: Singaporean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 20: Singaporean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 21: Singaporean Reinsurance - Comprehensive Double-Taxation Agreements
Table 22: Number of Insurance Providers in Singapore, 2007-2013
Table 23: Shares of Key Operators in the Singaporean Reinsurance Segment (%), 2011
Table 24: Munich Reinsurance Company Singapore, Key Facts
Table 25: Munich Reinsurance Company Singapore, Key Financials (SGD Million), 2007-2011
Table 26: Allianz SE Reinsurance Branch Asia Pacific, Key Facts
Table 27: Allianz SE Reinsurance Branch Asia Pacific, Key Financials (SGD Million), 2007-2011
Table 28: Asia Capital Reinsurance Group Pte Ltd, Key Facts
Table 29: Asia Capital Reinsurance Group Pte Ltd, Key Financials (SGD Million), 2008-2011
Table 30: Swiss Reinsurance Company Ltd, Key Facts
Table 31: Swiss Reinsurance Company Ltd, Key Financials (SGD Million), 2007-2011
Table 32: Everest Reinsurance Company, Key Facts
Table 33: Everest Reinsurance Company, Key Financials (SGD Million), 2007-2011
Table 34: IAG Re Singapore Pte. Ltd., Key Facts
Table 35: IAG Re Singapore Pte. Ltd., Key Financials (SGD Million), 2011
Table 36: Odyssey Reinsurance Company, Key Facts
Table 37: Odyssey Reinsurance Company, Key Financials (SGD Million), 2007-2011
Table 38: Scor Reinsurance Asia-Pacific Pte Ltd, Key Facts
Table 39: Scor Reinsurance Asia-Pacific Pte Ltd, Key Financials (SGD Million), 2007-2011
Table 40: Singapore Reinsurance Corp. Ltd, Key Facts
Table 41: Singapore Reinsurance Corp. Ltd, Key Financials (SGD Million), 2007-2011
Table 42: Korean Reinsurance Company, Key Facts



List of Figures

Figure 1: Singaporean Insurance - Overall Written Premium by Segment (SGD Billion), 2008-2017
Figure 2: Singaporean Insurance - Dynamics by Segment (%), 2008-2017
Figure 3: Singaporean Premium Ceded to Reinsurance by Category (SGD Billion), 2008-2017
Figure 4: Singaporean Premium Ceded to Reinsurance by Category (Percentage Share), 2012 and 2017
Figure 5: Singaporean Reinsurance - Dynamics by Category (%), 2008-2017
Figure 6: Singaporean Premium Ceded to Reinsurance by Type of Insurance (SGD Billion), 2008-2017
Figure 7: Singaporean Reinsurance - Dynamics by Type of Insurance (%), 2008-2017
Figure 8: Singaporean Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 9: Singaporean Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 10: Singaporean Non-Life Insurance - Percentage of Reinsurance Ceded, 2008-2012
Figure 11: Singaporean Non-Life Insurance - Percentage of Reinsurance Ceded, 2012-2017
Figure 12: Singaporean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 13: Singaporean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 14: Singaporean Reinsurance - Natural Disasters in Offshore Markets
Figure 15: Singaporean Reinsurance - Key Benefits of Reinsurance Operations
Figure 16: Shares of Key Operators in the Singaporean Reinsurance Segment (%), 2011
Figure 17: Gross Written Premium - Top-Five Singaporean Reinsurers, 2011
Figure 18: Gross Claims - Top-Five Singaporean Reinsurers, 2011
Figure 19: Paid Claims - Top-Five Singaporean Reinsurers, 2011
Figure 20: Total Assets - Top-Five Singaporean Reinsurers, 2011
Figure 21: Singaporean Stock Exchange Market Capitalization (US$ Billion), 2008-2012
Figure 22: Singaporean GDP at Constant Prices (US$ Billion), 2008-2012
Figure 23: Singaporean GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 24: Singaporean GDP at Current Prices (US$ Billion), 2008-2012
Figure 25: Singaporean GDP Per Capita at Current Prices (US$), 2008-2012
Figure 26: Singaporean GDP by Key Segments (%) 2007 and 2011
Figure 27: Singaporean Agriculture, Hunting, Forestry, Fishing Net Output at Current Prices (US$ Billion), 2007-2011
Figure 28: Singaporean Manufacturing Net Output at Current Prices (US$ Billion), 2007-2011
Figure 29: Singaporean Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 30: Singaporean Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007-2011
Figure 31: Singaporean Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 32: Singaporean Construction Net Output at Current Prices (US$ Billion), 2007- 2011
Figure 33: Singaporean Construction Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 34: Singaporean Inflation Rate (%), 2008-2012
Figure 35: Singaporean Exports as a Percentage of GDP (%), 2007-2011
Figure 36: Singaporean Imports as a Percentage of GDP (%), 2007-2011
Figure 37: Singaporean Exports Growth (%), 2007-2011
Figure 38: Singaporean Imports Growth (%), 2007-2011
Figure 39: Singaporean Annual Average Exchange Rate US$-SGD, 2007-2012
Figure 40: Singaporean Commercial Vehicle Exports - Total Value (US$ Million), 2007-2010
Figure 41: Singaporean Commercial Vehicle Imports - Total Value (US$ Million), 2007-2010
Figure 42: Singaporean Automotive Exports - Total Value (US$ Million), 2007-2010
Figure 43: Singaporean Automotive Imports - Total Value (US$ Million), 2007-2010
Figure 44: Singaporean Internet Subscriptions (Millions), 2007-2011
Figure 45: Singaporean Size of Labor Force in 15-59 Age Group (Million), 2007-2011
Figure 46: Singaporean Gross National Disposable Income (US$ Billion), 2007-2011
Figure 47: Singaporean Total Population (Million), 2007-2011
Figure 48: Singaporean Population Distribution by Age (%), 2008-2012


Companies Mentioned

Munich Re
Allianz Se
Asia Capital Re
Swiss Re
Everest Re
IAG Re
Odyssey Re
Scor Re
Singapore Re
Korean Re

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