Learn about the global reinsurance market through The Business Research Company, which provides information on reinsurance market size, reinsurance market drivers and restraints, reinsurance market players, the COVID-19 impact on the reinsurance market, and more.

The global reinsurance market is expected to grow from $402.35 billion in 2020 to $435.09 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $555.99 billion in 2025 at a CAGR of 6%.

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The reinsurance market consists of sales of reinsurance by entities (organizations, sole traders and partnerships) that assume all or part of the risk of existing insurance policies originally underwritten by other insurance providers (direct insurance carriers). Reinsurance providers invest premiums collected from insurance providers to build up a portfolio of financial assets to be used against future claims. The size of the market is based on the value of the premiums reinsured.

Global Reinsurance Market Segments Include:

By Type: Property & Casualty Reinsurance, Life & Health Reinsurance

By Distribution Channel: Direct Writing, Broker

By Mode: Online, Offline

By Organization Location: Domestic, International

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe was the largest region in the global reinsurance market, accounting for 39% of the market in 2020.

Reinsurance providers are integrating their processes with blockchain technology to reduce costs, increase efficiency, transparency, security associated with client data and other financial transactions. Blockchain is a distributed decentralized ledger and is a shared database (can be saved, owned, updated at different levels), not managed by central authority, comprising secure transactions, authenticated and verifiable. It reduces processing time and transactions costs, improves compliance, avoid re-entries, claim leakages and frauds, minimize time to settle losses and ensures cryptographic security.

TBRC’s reinsurance market report covers:

Major Market Players: AXA, Swiss Re, Munich Re, Hannover Re, SCOR SE.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Reinsurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides reinsurance market overviews, analyses and forecasts market size, share, reinsurance market players, reinsurance market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s reinsurance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Insurance Global Market Report 2021

Insurance (Providers, Brokers And Re-Insurers) Global Market Report 2020

Insurance Brokers & Agents Global Market Report 2021

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