Reinsurance Market to Reach $1344.3 Billion at 10.8% CAGR by 2031 | Size, Share, Industry

Allied Market Research recently published a report, titled, "Reinsurance Market by Type (Facultative Reinsurance, Treaty Reinsurance), by Application (Property & Casualty Reinsurance, Life & Health Reinsurance), by Distribution Channel (Direct Writing, Broker), by Mode (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2022-2031". As per the report, the global reinsurance industry was pegged at $498.7 billion in 2021, and is expected to reach $1,344 billion by 2031, growing at a CAGR of 10.8% from 2022 to 2031.

Request Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/6653

Major Determinants of the Reinsurance Market Growth

Rise in demand for various insurance plans and increased awareness due to Covid-19 pandemic drive the growth of the global reinsurance market. Moreover, demand for artificial intelligence in reinsurance and conduit reinsurance would open new opportunities in the future.

The Treaty Reinsurance segment to Manifest the highest CAGR through 2031

By type, the treaty reinsurance segment is estimated to portray the highest CAGR of 11.9% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than two-thirds of the global reinsurance market, and is expected to continue its dominance throughout the forecast period. The lack of individual underwriting on the part of the assuming insurer is the main feature of a treaty arrangement. The report includes analysis of the facultative reinsurance segment.

The Property & Casualty Reinsurance Segment Dominated the Market

By application, the property & casualty reinsurance segment held the largest share in 2021, contributing to nearly two-thirds of the global reinsurance market, and is expected to maintain leading position during the forecast period. Commercial property & casualty reinsurance either pays to repair or rebuild property with materials of the same or pays the current value of the damaged property. Hence, this is a major factor driving the growth of the market. However, the life & health reinsurance segment is projected to manifest the highest CAGR of 12.8% during the forecast period, owing to increase in demand for life and health insurance during the forecast period. The COVID-19 pandemic has increased awareness of the value of and demand for life insurance among consumers.

The Broker Segment to Showcase the Highest CAGR through 2031

By distribution channel, the broker segment is projected to manifest the highest CAGR of 13.0% during the forecast period. Brokers use their marketing skills and knowledge about reinsurance to sell policies to the end customers. These intermediaries search for potential buyers and explain the advantages, benefits, disadvantages, and other details for reinsurance coverage, which fuels the growth of the market. However, the direct writing segment held the largest share in 2021, accounting for nearly three-fourths of the global reinsurance market, and is expected to continue its dominance from 2022 to 2031. This is due to awareness among the insurers regarding reinsurance policies to cover business risks and losses.

North America held the Lion's Share

By region, the global reinsurance market across North America held the largest share in 2021, accounting for more than two-fifths of the market. This is due to surge in the life & health insurance, property & casualty insurance, and other insurance policies and advent of increase in demand for artificial intelligence and technologies. However, the market across Asia-Pacific is expected to register the highest CAGR of 14.2% during the forecast period, owing to developing market, underwriting procedures, and innovations across the region.

Request Customization: https://www.alliedmarketresearch.com/request-for-customization/6653

Major Market Players

AXA XL
Barents Re Reinsurance Company, Inc.
Berkshire Hathaway Inc.
BMS Group
China Reinsurance (Group) Corporation
Everest Re Group, Ltd.
Hannover Re
Lloyd's
MAPFRE
Markel Corporation
Munich RE
RGA Reinsurance Company
Swiss Re
The Canada Life Assurance Company
Tokio Marine HCC
SCOR
Next Insurance, Inc.
The report analyzes these key players of the global satellite connectivity market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Inquire Before Buying : https://www.alliedmarketresearch.com/purchase-enquiry/6653

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the reinsurance market analysis from 2021 to 2031 to identify the prevailing reinsurance market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the reinsurance market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global reinsurance market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

Type
Facultative Reinsurance
Treaty Reinsurance
Treaty Reinsurance
Proportional Reinsurance
Non-proportional Reinsurance

Application
Property & Casualty Reinsurance
Life & Health Reinsurance
Life & Health Reinsurance
Disease Insurance
Medical Insurance

Distribution Channel
Direct Writing
Broker

Mode
Online
Offline

Top Reports:
Medical Loans Market https://www.alliedmarketresearch.com/medical-loans-market-A323693

Biometric Payment Market https://www.alliedmarketresearch.com/biometric-payment-market-A323044

Self-Driving Car Insurance Market https://www.alliedmarketresearch.com/self-driving-car-insurance-market-A320163

NFC Payments Market https://www.alliedmarketresearch.com/nfc-payments-market-A08282

Embedded Banking Market https://www.alliedmarketresearch.com/embedded-banking-market-A283373

Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
https://medium.com/@kokate.mayuri1991
https://www.scoop.it/u/monika-718
https://bfsibloghub.blogspot.com/

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.