The turnover of the reinsurance market in France has shown significant fluctuations across the years. From 2013 to 2016, the market experienced variable growth, peaking in 2015 and then suffering a sharp decline the following year. Between 2019 and 2023, the market displayed a consistent downtrend with minor upticks, recording a turnover of €11.43 billion in 2023. The year-on-year variations reveal a generally negative trend, especially notable is the decline over the last two years with a decrease of around 2.44% in 2023 and a CAGR of -1.77% over the last five years.
Looking forward, the forecast data for 2024 through 2028 indicates a continued slow decline in market turnover, with a CAGR of -2.07% and an overall drop of approximately 9.92% by 2028. This suggests a steady decrease in the value of the reinsurance market in the near future.
Future trends to watch for include:
- Impact of regulatory changes and their influence on reinsurance market dynamics.
- Emerging risks such as climate change, cyber threats, and their implications on reinsurance demand.
- Technological advancements and how they might streamline operations and impact market turnover.
- Global economic conditions and how shifts may affect the reinsurance sector.
