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Reinsurance Global Market Report 2023

Reinsurance Global Market Report 2023
  • Publish Date:April 2023

  • Number of Pages:300

  • Report ID:6277923

  • Format:PDF

  • Publisher:The Business Research Company

$ 4000


Major companies in the reinsurance market include Munich Re, SWISS Re, Hannover Re, Talanx, SCOR SE, Berkshire Hathaway Inc., China Reinsurance (Group) Corp, Lloyd’s of London, Axa Group, Reinsurance Group of America Inc.

The global reinsurance market grew from $574.27 billion in 2022 to $632.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The reinsurance market is expected to grow to $895.4 billion in 2027 at a CAGR of 9.1%.

The reinsurance market consists of sales of reinsurance products by entities 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.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

Reinsurance is when several insurance firms pool their risk by buying insurance from other insurers to reduce their own overall loss in the event of a catastrophe.

Western Europe was the largest region in the reinsurance market in 2022.The Asia-Pacific was the second largest region in the reinsurance market.

The regions covered in the reinsurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The main types of reinsurance are property and casualty reinsurance and life and health reinsurance. Life and health reinsurance is a type of reinsurance that covers both health and life.The services are offered through online and offline modes to domestic and international organizations. Direct writing and broker are two of the distribution channels involved.

Reinsurance providers are integrating their processes with blockchain technology to reduce costs, increase efficiency, transparency, and security associated with client data and other financial transactions.A blockchain is a distributed decentralised ledger and is a shared database (can be saved, owned, and updated at different levels), not managed by a central authority, comprising secure transactions that are authenticated and verifiable.

It reduces processing time and transaction costs, improves compliance, avoids re-entries, claims leakages, and fraud, minimises time to settle losses, and ensures cryptographic security. For instance, blockchain technology could reduce the costs of reinsurance companies by more than $5 billion globally.

Reinsurers across the globe are offering bundled products and services to enhance their revenues.This change is a result of diverse choices, attractive prices, and broader coverage offered by reinsurers to gain additional market share and cut costs.

This approach has helped global reinsurers to close business deals at a group level, thereby reducing the need for reinsurance at different levels. For instance, reinsurance companies Generali and Allianz have adopted a bundled approach, enabling them to get better oversight of the global market and cut down on the cost of offering reinsurance services.

The countries covered in the reinsurance market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The reinsurance research report is one of a series of new reports that provides reinsurance statistics, including reinsurance industry global market size, regional shares, competitors with reinsurance shares, detailed reinsurance segments, market trends and opportunities, and any further data you may need to thrive in the reinsurance industry. This reinsurance research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Table of contents

1. Executive Summary

2. Report Structure

3. Reinsurance Market Characteristics
3.1. Market Definition
3.2. Key Segmentations

4. Reinsurance Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators...


Our market research methodology is designed to provide the clients with comprehensive and accurate information on various industries and markets. It includes data collection, primary interviews, macro-economic factor analysis, country-level data analysis etc.