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Agriculture Reinsurance Market worth $43.15 billion by 2030, growing at a CAGR of 13.73% - Exclusive Report by 360iResearch

03-13-2024 06:22 AM CET | Food & Beverage

Press release from: 360iResearch

Agriculture Reinsurance Market | 360iResearch

Agriculture Reinsurance Market | 360iResearch

The "Agriculture Reinsurance Market by Crop Insurance Type (Crop Price Reinsurance, Crop Revenue Reinsurance, Crop Yield Reinsurance), Product (Aquaculture Insurance, Bloodstock Insurance, Forestry Insurance), Type - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Agriculture Reinsurance Market to grow from USD 17.53 billion in 2023 to USD 43.15 billion by 2030, at a CAGR of 13.73%.

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Agriculture reinsurance refers to the risk management practice where an insurance business transfers a portion of its agricultural insurance liabilities to a reinsurance company. This transaction helps the primary insurer mitigate the risk of large claims or catastrophic events arising from agricultural uncertainties such as natural disasters, disease outbreaks in livestock, or significant price volatility in agricultural commodities. Reinsurance arrangements in agriculture help insurers stabilize their financial performance, manage their risk exposure, and maintain solvency while offering comprehensive coverage to farmers and agribusinesses. The elevating frequency of extreme weather events is driving demand for reinsurance services. In addition, subsidies and support programs for agriculture insurance make reinsurance more accessible to insurers. However, the multifaceted nature of agricultural risks makes policy design and risk transfer challenging for providers of agriculture reinsurance. In addition, seasonal variations and cyclic prices affect the predictability and stability of the agriculture reinsurance market. Nevertheless, developing advanced models to assess and predict climate-related risks with greater accuracy and creating customized reinsurance products for niche markets within agriculture are expanding the usage of agriculture reinsurance solutions.

The Asia Pacific agricultural sector is characterized by a high reliance on agriculture with a strong need for insurance products tailored to small-scale farmers, who require protection against crop failures due to extreme weather events. The significant investments in agritech startups and smart farming solutions across the region have propelled the demand for agriculture reinsurance in the Asia-Pacific. Numerous public-private partnership initiatives are underway in the Asia-Pacific to enhance crop insurance penetration and farmer financial literacy programs. The Americas represents a highly developing agricultural reinsurance market with strong risk management practices and reinsurance mechanisms. Farmers in these regions tend to engage well with insurance products, reflecting a maturity in understanding the importance of safeguarding their operations. In addition, government-led crop insurance schemes influence the market dynamics of agriculture reinsurance. The European has a well-established Common Agricultural Policy (CAP) influencing insurance purchasing behavior. In the EU, demand for sophisticated insurance products that accommodate various agricultural practices and compliance with environmental standards is growing due to increased consumer awareness and adoption of insurance solutions. The ongoing investments by the vendors and supportive government initiatives for the agricultural sector are expected to enhance the availability of agriculture reinsurance in the EMEA region.

Market Segmentation & Coverage:

This research report categorizes the Agriculture Reinsurance Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Crop Insurance Type, market is studied across Crop Price Reinsurance, Crop Revenue Reinsurance, and Crop Yield Reinsurance. The Crop Revenue Reinsurance commanded largest market share of 27.28% in 2023, followed by Crop Yield Reinsurance.

Based on Product, market is studied across Aquaculture Insurance, Bloodstock Insurance, Forestry Insurance, Greenhouse Insurance, Livestock Insurance, Managed Crop Hail Insurance, and Multi-Peril Crop Insurance. The Multi-Peril Crop Insurance commanded largest market share of 22.12% in 2023, followed by Livestock Insurance.

Based on Type, market is studied across Excess-of-Loss Reinsurance, Facultative Coverage, Loss-occurring Coverage, Non-proportional Reinsurance, Proportional Reinsurance, Reinsurance Treaty, and Risk-Attaching Reinsurance. The Risk-Attaching Reinsurance commanded largest market share of 21.21% in 2023, followed by Non-proportional Reinsurance.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 40.28% in 2023, followed by Asia-Pacific.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Agriculture Reinsurance Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Agriculture Reinsurance Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Agriculture Reinsurance Market, highlighting leading vendors and their innovative profiles. These include African Reinsurance Corporation, Agritask, AIR Worldwide Corporation, Allianz Group, American Agricultural Insurance Company, Aon PLC, Arch Capital Group Ltd., AXA Group, AXIS Capital Group, Berkshire Hathaway Inc., Canopius Managing Agents Limited, Continental Reinsurance Plc, Core Specialty Insurance Holdings, Inc., Everest Re Group Ltd., Gallagher Re, Guy Carpenter & Company, LLC, Hannover Re Group, MS Amlin AG, Munich Re, PartnerRe Ltd., QBE Insurance Group Limited, R+V Versicherung AG, Scor SE, Sompo Holdings, Inc., and Swiss Re.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Agriculture Reinsurance Market, by Crop Insurance Type
7. Agriculture Reinsurance Market, by Product
8. Agriculture Reinsurance Market, by Type
9. Americas Agriculture Reinsurance Market
10. Asia-Pacific Agriculture Reinsurance Market
11. Europe, Middle East & Africa Agriculture Reinsurance Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Agriculture Reinsurance Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Agriculture Reinsurance Market?
3. What is the competitive strategic window for opportunities in the Agriculture Reinsurance Market?
4. What are the technology trends and regulatory frameworks in the Agriculture Reinsurance Market?
5. What is the market share of the leading vendors in the Agriculture Reinsurance Market?
6. What modes and strategic moves are considered suitable for entering the Agriculture Reinsurance Market?

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Contact 360iResearch

Mr. Ketan Rohom
Sales & Marketing,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India - 411014.
sales@360iresearch.com
+1-530-264-8485
+91-922-607-7550

About 360iResearch

360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.

We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.

Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.

Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.

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