Global Life And Health Reinsurance Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

13 Oct, 2021

The life & health reinsurance market consists of sales of reinsurance by entities (organizations, sole traders, and partnerships) that are engaged in assuming all or part of the risk with existing life and health insurance policies originally underwritten by other insurance providers (direct insurance carriers). Only goods and services traded between entities or sold to end consumers are included.

Global Life And Health Reinsurance Market Size And Drivers:

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%. The rise in the demand for life and health insurance policies is expected to drive the market for life and health reinsurance market during the forecast period.

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Trends In The Global Life And Health Reinsurance Market

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 Tencent’s 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.

Global Life And Health Reinsurance Market Segments:
The global life and health reinsurance market is further segmented –
By Type: Facultative Reinsurance, Treaty Reinsurance
By Distribution Channel: Direct Response, Agents & Brokers, Banks, Others
By Product: Life, Health
By Geography: The global life and health reinsurance market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Life And Health Reinsurance Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides life and health reinsurance market overviews, analyzes and forecasts market size and growth for the global life and health reinsurance market, life and health reinsurance market share, life and health reinsurance market players, life and health reinsurance market segments and geographies, life and health reinsurance market’s leading competitors’ revenues, profiles and market shares. The life and health reinsurance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.