Press release
Reinsurance Market to Reach $1,344 Bn Globally, by 2031 at 10.8% CAGR.
Allied Market Research recently published a report, titled, "Reinsurance Market by Type (Facultative Reinsurance, Treaty Reinsurance), by Application (Property & Casualty Reinsurance, Life & Health Reinsurance), by Distribution Channel (Direct Writing, Broker), by Mode (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2022-2031". As per the report, the global reinsurance industry was pegged at $498.7 billion in 2021, and is expected to reach $1,344 billion by 2031, growing at a CAGR of 10.8% from 2022 to 2031.
Download Sample Report (Get Full Insights in PDF - 333 Pages) @ https://www.alliedmarketresearch.com/request-sample/6653
Major Determinants of the Reinsurance Market Growth
Rise in demand for various insurance plans and increased awareness due to Covid-19 pandemic drive the growth of the global reinsurance market. Moreover, demand for artificial intelligence in reinsurance and conduit reinsurance would open new opportunities in the future.
Covid-19 Scenario:
The pandemic had a negative effect on the market as socioeconomic disruptions accelerated the dynamics of broker, primary insurer, and reinsurer consolidation.
However, the digitization of reinsurance market limited the negative impact of Covid-19 on the market.
Scope of the Report:
Report Attribute
Details
Revenue forecast in 2031
$1344.3 billion
Growth rate
CAGR of 10.8% from 2022 to 2031
Forecast period
2022 - 2031
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Regional scope
North America, Europe, Asia Pacific, Latin America, MEA
Country scope
U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Key companies profiled
AXA XL, Barents Re Reinsurance Company, Inc., Berkshire Hathaway Inc., BMS Group, China Reinsurance (Group) Corporation, Everest Re Group, Ltd., Hannover Re, Lloyd's, MAPFRE, Markel Corporation, Munich RE, RGA Reinsurance Company, Swiss Re, The Canada Life Assurance Company, Tokio Marine HCC, SCOR, and Next Insurance, Inc. Access Table PDF
The Treaty Reinsurance segment to Manifest the highest CAGR through 2031
By type, the treaty reinsurance segment is estimated to portray the highest CAGR of 11.9% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than two-thirds of the global reinsurance market, and is expected to continue its dominance throughout the forecast period. The lack of individual underwriting on the part of the assuming insurer is the main feature of a treaty arrangement. The report includes analysis of the facultative reinsurance segment.
The Property & Casualty Reinsurance Segment Dominated the Market
By application, the property & casualty reinsurance segment held the largest share in 2021, contributing to nearly two-thirds of the global reinsurance market, and is expected to maintain leading position during the forecast period. Commercial property & casualty reinsurance either pays to repair or rebuild property with materials of the same or pays the current value of the damaged property. Hence, this is a major factor driving the growth of the market. However, the life & health reinsurance segment is projected to manifest the highest CAGR of 12.8% during the forecast period, owing to increase in demand for life and health insurance during the forecast period. The COVID-19 pandemic has increased awareness of the value of and demand for life insurance among consumers.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/6653
The Broker Segment to Showcase the Highest CAGR through 2031
By distribution channel, the broker segment is projected to manifest the highest CAGR of 13.0% during the forecast period. Brokers use their marketing skills and knowledge about reinsurance to sell policies to the end customers. These intermediaries search for potential buyers and explain the advantages, benefits, disadvantages, and other details for reinsurance coverage, which fuels the growth of the market. However, the direct writing segment held the largest share in 2021, accounting for nearly three-fourths of the global reinsurance market, and is expected to continue its dominance from 2022 to 2031. This is due to awareness among the insurers regarding reinsurance policies to cover business risks and losses.
North America held the Lion's Share
By region, the global reinsurance market across North America held the largest share in 2021, accounting for more than two-fifths of the market. This is due to surge in the life & health insurance, property & casualty insurance, and other insurance policies and advent of increase in demand for artificial intelligence and technologies. However, the market across Asia-Pacific is expected to register the highest CAGR of 14.2% during the forecast period, owing to developing market, underwriting procedures, and innovations across the region.
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/6653?reqfor=covid
Major Market Players
AXA XL
Barents Re Reinsurance Company, Inc.
Berkshire Hathaway Inc.
BMS Group
China Reinsurance (Group) Corporation
Everest Re Group, Ltd.
Hannover Re
Lloyd's
MAPFRE
Markel Corporation
Munich RE
RGA Reinsurance Company
Swiss Re
The Canada Life Assurance Company
Tokio Marine HCC
SCOR
Next Insurance, Inc.
The report analyzes these key players of the global satellite connectivity market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the reinsurance market analysis from 2021 to 2031 to identify the prevailing reinsurance market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the reinsurance market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global reinsurance market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
Type
Facultative Reinsurance
Treaty Reinsurance
Treaty Reinsurance
Proportional Reinsurance
Non-proportional Reinsurance
Application
Property & Casualty Reinsurance
Life & Health Reinsurance
Life & Health Reinsurance
Disease Insurance
Medical Insurance
Distribution Channel
Direct Writing
Broker
Mode
Online
Offline
Related Reports:
• AI in Insurance Market: https://www.alliedmarketresearch.com/ai-in-insurance-market-A11615
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United States
USA/Canada :
+1-800-792-5285
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
Download Sample Report (Get Full Insights in PDF - 333 Pages) @ https://www.alliedmarketresearch.com/request-sample/6653
Major Determinants of the Reinsurance Market Growth
Rise in demand for various insurance plans and increased awareness due to Covid-19 pandemic drive the growth of the global reinsurance market. Moreover, demand for artificial intelligence in reinsurance and conduit reinsurance would open new opportunities in the future.
Covid-19 Scenario:
The pandemic had a negative effect on the market as socioeconomic disruptions accelerated the dynamics of broker, primary insurer, and reinsurer consolidation.
However, the digitization of reinsurance market limited the negative impact of Covid-19 on the market.
Scope of the Report:
Report Attribute
Details
Revenue forecast in 2031
$1344.3 billion
Growth rate
CAGR of 10.8% from 2022 to 2031
Forecast period
2022 - 2031
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Regional scope
North America, Europe, Asia Pacific, Latin America, MEA
Country scope
U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Key companies profiled
AXA XL, Barents Re Reinsurance Company, Inc., Berkshire Hathaway Inc., BMS Group, China Reinsurance (Group) Corporation, Everest Re Group, Ltd., Hannover Re, Lloyd's, MAPFRE, Markel Corporation, Munich RE, RGA Reinsurance Company, Swiss Re, The Canada Life Assurance Company, Tokio Marine HCC, SCOR, and Next Insurance, Inc. Access Table PDF
The Treaty Reinsurance segment to Manifest the highest CAGR through 2031
By type, the treaty reinsurance segment is estimated to portray the highest CAGR of 11.9% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than two-thirds of the global reinsurance market, and is expected to continue its dominance throughout the forecast period. The lack of individual underwriting on the part of the assuming insurer is the main feature of a treaty arrangement. The report includes analysis of the facultative reinsurance segment.
The Property & Casualty Reinsurance Segment Dominated the Market
By application, the property & casualty reinsurance segment held the largest share in 2021, contributing to nearly two-thirds of the global reinsurance market, and is expected to maintain leading position during the forecast period. Commercial property & casualty reinsurance either pays to repair or rebuild property with materials of the same or pays the current value of the damaged property. Hence, this is a major factor driving the growth of the market. However, the life & health reinsurance segment is projected to manifest the highest CAGR of 12.8% during the forecast period, owing to increase in demand for life and health insurance during the forecast period. The COVID-19 pandemic has increased awareness of the value of and demand for life insurance among consumers.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/6653
The Broker Segment to Showcase the Highest CAGR through 2031
By distribution channel, the broker segment is projected to manifest the highest CAGR of 13.0% during the forecast period. Brokers use their marketing skills and knowledge about reinsurance to sell policies to the end customers. These intermediaries search for potential buyers and explain the advantages, benefits, disadvantages, and other details for reinsurance coverage, which fuels the growth of the market. However, the direct writing segment held the largest share in 2021, accounting for nearly three-fourths of the global reinsurance market, and is expected to continue its dominance from 2022 to 2031. This is due to awareness among the insurers regarding reinsurance policies to cover business risks and losses.
North America held the Lion's Share
By region, the global reinsurance market across North America held the largest share in 2021, accounting for more than two-fifths of the market. This is due to surge in the life & health insurance, property & casualty insurance, and other insurance policies and advent of increase in demand for artificial intelligence and technologies. However, the market across Asia-Pacific is expected to register the highest CAGR of 14.2% during the forecast period, owing to developing market, underwriting procedures, and innovations across the region.
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/6653?reqfor=covid
Major Market Players
AXA XL
Barents Re Reinsurance Company, Inc.
Berkshire Hathaway Inc.
BMS Group
China Reinsurance (Group) Corporation
Everest Re Group, Ltd.
Hannover Re
Lloyd's
MAPFRE
Markel Corporation
Munich RE
RGA Reinsurance Company
Swiss Re
The Canada Life Assurance Company
Tokio Marine HCC
SCOR
Next Insurance, Inc.
The report analyzes these key players of the global satellite connectivity market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the reinsurance market analysis from 2021 to 2031 to identify the prevailing reinsurance market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the reinsurance market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global reinsurance market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
Type
Facultative Reinsurance
Treaty Reinsurance
Treaty Reinsurance
Proportional Reinsurance
Non-proportional Reinsurance
Application
Property & Casualty Reinsurance
Life & Health Reinsurance
Life & Health Reinsurance
Disease Insurance
Medical Insurance
Distribution Channel
Direct Writing
Broker
Mode
Online
Offline
Related Reports:
• AI in Insurance Market: https://www.alliedmarketresearch.com/ai-in-insurance-market-A11615
• Asia-Pacific Usage based Insurance Market: https://www.alliedmarketresearch.com/asia-pacific-usage-based-insurance-market-A15889
• Identity Theft Insurance Market : https://www.alliedmarketresearch.com/identity-theft-insurance-market-A11987
• Two wheeler Insurance Market: https://www.alliedmarketresearch.com/two-wheeler-insurance-market-A07582
• Aviation Insurance Market: https://www.alliedmarketresearch.com/aviation-insurance-market-A14877
• Commercial Auto Insurance Market: https://www.alliedmarketresearch.com/commercial-auto-insurance-market-A14156
• India Dental Insurance Market: https://www.alliedmarketresearch.com/india-dental-insurance-market-A13997
• Takaful Insurance Market: https://www.alliedmarketresearch.com/takaful-insurance-market-A11835
• IoT Insurance Market: https://www.alliedmarketresearch.com/iot-insurance-market-A09784
• Usage-Based Insurance Market: https://www.alliedmarketresearch.com/usage-based-insurance-market
• North America Travel Insurance Market: https://www.alliedmarketresearch.com/north-america-travel-insurance-market
• Asia-Pacific Travel Insurance Market: https://www.alliedmarketresearch.com/asia-pacific-travel-insurance-market
• Motor Insurance Market: https://www.alliedmarketresearch.com/motor-insurance-market-A06190
United States
USA/Canada :
+1-800-792-5285
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
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