Market Overview:
The global reinsurance carriers market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for reinsurance products from both life and non-life insurers, as well as an increase in awareness about the benefits of reinsurance among policyholders. In addition, technological advancements are also aiding in the growth of this market. On the basis of type, the global reinsurance carriers market can be segmented into life and non-life reinsurers. The life reinsurers segment is expected to grow at a higher CAGR than that of non-life during the forecast period owing to an increase in demand for risk transfer solutions for protection against mortality risks. On the basis of application,the global reinsurance carriers market can be divided into agency, broker, bancassurance, direct writing and others segments.
Product Definition:
Reinsurance Carriers are companies that provide insurance to other insurance companies in case of large claims. This is important because it helps spread the risk among many companies and prevents any one company from going bankrupt if they have a lot of claims.
Life:
The global life is a key factor in the re-insurance carriers market. Life is used by the companies for two purposes, firstly it's used as an asset to protect the interests of insurance payouts and secondly it's used to charge premium for protecting other people’s lives. The growth of life depends on how many people die so that there are more or less deaths which gives a leverage over competitors.
Non-life:
Non-life and its usage in Reinsurance Carriers market is a new term which entered the insurance industry recently. It has been observed that many companies are now shifting from death and disability to living risks, i.e., health, income protection, etc. This shift in trend is expected to have a positive impact on the growth of non-life segment over the forecast period as it will help companies to diversify their portfolio and reduce overall capital requirement for risk management.
Application Insights:
The others segment includes personal lines, property/casualty and surety. The other application segment held the largest market share of over 50% in 2017. This is due to high penetration of this type of insurance in various industries such as automotive, manufacturing and construction, retail and hospitality among others.
Agency was the second-largest application that accounted for a significant market share in 2017. It is widely used to cover risks associated with fluctuation in prices or rates charged by different companies for providing goods or services under an agreement that stipulates payment amounts at specified intervals (premium) during the period when claims are made (coverage). Agency contract also known as indemnity contract covers both parties involved; i.e.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing investments by global players in this region and rising demand for insurance services from a large corporate sector. Furthermore, economic stability and growing financial sector in India are expected to drive the growth of insurance products over the next eight years.
The European market held a significant share of around 25% in 2017 owing to presence of prominent players such as Allianz SE, Axa France SASU, Generali Italy S.p.A., Ergo Group AS along with other small & medium enterprises (SMEs).
Growth Factors:
- Increasing demand for reinsurance products from the insurance industry
- Rising number of natural disasters and other risks that need to be insured
- Growing awareness about the benefits of reinsurance among businesses and individuals
- Proliferation of new technologies and platforms that facilitate risk transfer transactions
- Consolidation in the reinsurance market resulting in increased efficiency and competitive pricing
Scope Of The Report
Report Attributes
Report Details
Report Title
Reinsurance Carriers Market Research Report
By Type
Life, Non-life
By Application
Agency, Broker, Bancassurance, Direct Writing, Others
By Companies
China Reinsurance Company, Berkshire Hathaway Cooperation, Allianz, AXA, Korean Reinsurance Co, Munich Re, Everest Reinsurance, Swiss Re-insurance Company, HDI-Gerling, Lloyd’s of London, SCOR, Hannover Re, Catlin Group Limited, Reinsurance Group of America, PartnerRe Ltd., XL Group Plc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Reinsurance Carriers Market Report Segments:
The global Reinsurance Carriers market is segmented on the basis of:
Types
Life, Non-life
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Agency, Broker, Bancassurance, Direct Writing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- China Reinsurance Company
- Berkshire Hathaway Cooperation
- Allianz
- AXA
- Korean Reinsurance Co
- Munich Re
- Everest Reinsurance
- Swiss Re-insurance Company
- HDI-Gerling
- Lloyd’s of London
- SCOR
- Hannover Re
- Catlin Group Limited
- Reinsurance Group of America
- PartnerRe Ltd.
- XL Group Plc
Highlights of The Reinsurance Carriers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Life
- Non-life
- By Application:
- Agency
- Broker
- Bancassurance
- Direct Writing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Reinsurance Carriers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Reinsurance carriers are companies that provide insurance to other businesses, such as automobile insurers and property insurers. They typically contract with a group of reinsurers in order to provide coverage for their customers.
Some of the key players operating in the reinsurance carriers market are China Reinsurance Company, Berkshire Hathaway Cooperation, Allianz, AXA, Korean Reinsurance Co, Munich Re, Everest Reinsurance, Swiss Re-insurance Company, HDI-Gerling, Lloyd’s of London, SCOR, Hannover Re, Catlin Group Limited, Reinsurance Group of America, PartnerRe Ltd., XL Group Plc.
The reinsurance carriers market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Reinsurance Carriers Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Reinsurance Carriers Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Reinsurance Carriers Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Reinsurance Carriers Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Reinsurance Carriers Market Size & Forecast, 2018-2028
4.5.1 Reinsurance Carriers Market Size and Y-o-Y Growth
4.5.2 Reinsurance Carriers Market Absolute $ Opportunity
Chapter 5 Global Reinsurance Carriers Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Reinsurance Carriers Market Size Forecast by Type
5.2.1 Life
5.2.2 Non-life
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Reinsurance Carriers Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Reinsurance Carriers Market Size Forecast by Applications
6.2.1 Agency
6.2.2 Broker
6.2.3 Bancassurance
6.2.4 Direct Writing
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Reinsurance Carriers Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Reinsurance Carriers Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Reinsurance Carriers Analysis and Forecast
9.1 Introduction
9.2 North America Reinsurance Carriers Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Reinsurance Carriers Market Size Forecast by Type
9.6.1 Life
9.6.2 Non-life
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Reinsurance Carriers Market Size Forecast by Applications
9.10.1 Agency
9.10.2 Broker
9.10.3 Bancassurance
9.10.4 Direct Writing
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Reinsurance Carriers Analysis and Forecast
10.1 Introduction
10.2 Europe Reinsurance Carriers Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Reinsurance Carriers Market Size Forecast by Type
10.6.1 Life
10.6.2 Non-life
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Reinsurance Carriers Market Size Forecast by Applications
10.10.1 Agency
10.10.2 Broker
10.10.3 Bancassurance
10.10.4 Direct Writing
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Reinsurance Carriers Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Reinsurance Carriers Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Reinsurance Carriers Market Size Forecast by Type
11.6.1 Life
11.6.2 Non-life
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Reinsurance Carriers Market Size Forecast by Applications
11.10.1 Agency
11.10.2 Broker
11.10.3 Bancassurance
11.10.4 Direct Writing
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Reinsurance Carriers Analysis and Forecast
12.1 Introduction
12.2 Latin America Reinsurance Carriers Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Reinsurance Carriers Market Size Forecast by Type
12.6.1 Life
12.6.2 Non-life
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Reinsurance Carriers Market Size Forecast by Applications
12.10.1 Agency
12.10.2 Broker
12.10.3 Bancassurance
12.10.4 Direct Writing
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Reinsurance Carriers Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Reinsurance Carriers Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Reinsurance Carriers Market Size Forecast by Type
13.6.1 Life
13.6.2 Non-life
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Reinsurance Carriers Market Size Forecast by Applications
13.10.1 Agency
13.10.2 Broker
13.10.3 Bancassurance
13.10.4 Direct Writing
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Reinsurance Carriers Market: Competitive Dashboard
14.2 Global Reinsurance Carriers Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 China Reinsurance Company
14.3.2 Berkshire Hathaway Cooperation
14.3.3 Allianz
14.3.4 AXA
14.3.5 Korean Reinsurance Co
14.3.6 Munich Re
14.3.7 Everest Reinsurance
14.3.8 Swiss Re-insurance Company
14.3.9 HDI-Gerling
14.3.10 Lloyd’s of London
14.3.11 SCOR
14.3.12 Hannover Re
14.3.13 Catlin Group Limited
14.3.14 Reinsurance Group of America
14.3.15 PartnerRe Ltd.
14.3.16 XL Group Plc
