Press release
Life And Health Reinsurance Market 2021 Precise Outlook- Swiss Reinsurance Company Ltd, Munich Re Group, Reinsurance Group of America (RGA), SCOR SE, Hannover Re
Global Life And Health Reinsurance Market 2021 research report offers qualitative and quantitative insights in relation to industry growth rate, market segmentation, Life And Health Reinsurance market size, demand and revenue. The current Life And Health Reinsurance market trends that are expected to influence the future prospects of the industry are analyzed in the report. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.The global life & health reinsurance market is expected to grow from $127.29 billion in 2020 to $135.16 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. 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 $169.27 billion in 2025 at a CAGR of 5.8%.
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Scope of this Report:
By Type: Facultative Reinsurance; Treaty Reinsurance2) By Distribution Channel: Direct Response; Agents & Brokers; Banks; Others3) By Product : Life, Health
Companies Mentioned: Swiss Reinsurance Company Ltd; Munich Re Group; Reinsurance Group of America (RGA); SCOR SE; Hannover Re
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Industry News:
In March 2019, RenaissanceRe, a Bermuda based reinsurance, insurance provider acquired Tokio Millennium Re AG and Tokio Millennium Re (UK) also known as TMR, a Bermuda based reinsurance company, for $1.5 billion. The acquisition is expected to accelerate strategy and enhances RenaissanceRes global reinsurance position, offerings, and access to attractive risk. TMR was a subsidiary of Tokio Marine Holdings and has branches in Stamford, USA, Zurich, Switzerland, and Australia.
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Executive Summary:
The increasing demand for artificial intelligence in life & health reinsurance is an emerging trend in the life & health reinsurance market. According to the Reinsurance News, Swiss Re is partnering with Tencents WeBank to research Artificial Intelligence use in reinsurance. Swiss Re and WeBank will work collaboratively to explore the technology involvement in addressing the challenges imposed by data silos. Swiss Re is expecting the partnership to build a foundation for a new business supported by federated learning and will also encourage the reinsurance industry to adopt a new framework to improve technological capabilities. For instance, in the fiscal year 2019-2020, Life Insurance Corporation (LIC), Indias largest life insurer, sold around 21.9 million policies which is the highest in the last six years. Therefore, increased demand for life and health insurance policies is expected to impact the market for life and health reinsurance positively.
Regional Analysis For Life And Health Reinsurance Market:
North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Browse the Report Description And TOC:
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Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
The research includes historic data from 2015 to 2021 and forecasts until 2030 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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