Reinsurance Market Scope and Analysis Report by 2031
Reinsurance Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 485.37 Billion |
Market Size by 2031 | US$ 959.48 Billion |
Global CAGR (2023 - 2031) | 8.9% |
Historical Data | 2021-2023 |
Forecast period | 2023-2031 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
The "Reinsurance Market Analysis" was carried out based on type, application, mode, and geography. On the basis of type, the market is segmented into facultative reinsurance and treaty reinsurance. Based on application, the reinsurance market is segmented into property & casualty reinsurance and life & health reinsurance. Based on mode, the market is segmented into online and offline. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Reinsurance Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the reinsurance market. A few recent key market developments are listed below:
- In February 2024, Resolution Life announced that its Bermudian reinsurance platform, Resolution Re, has entered into a flow reinsurance agreement with a Japanese insurer. This agreement aims to provide increased capacity and greater product competitiveness, enhancing the offering to the cedent's fixed annuity policyholders.
[Source: Resolution Life, Company Website]
- In January 2024, Reinsurance Group of America, Incorporated announced a strategic investment and exclusive global life and health reinsurance partnership with insurance technology company DigitalOwl.
[Source: Reinsurance Group of America, Company Website]
- In January 2024, Guy Carpenter announced the launch of a new cyber reinsurance product, CatStop+. CatStop+ helps solve a range of issues that cyber reinsurers face, striking a balance between coverage from peak perils, tail protection, and cost-effectiveness while bringing clarity to the recovery of losses resulting from a severe cyber event.
[Source: Guy Carpenter, Company Website]
- In December 2023, Manulife Financial Corporation announced a US$13 billion reinsurance deal, including US$6 billion of long-term care, with Global Atlantic.
[Source: Global Atlantic, Company Website]
Reinsurance Market Report Coverage & Deliverables
The reinsurance market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Reinsurance Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.