The global life & health reinsurance market size is expected to grow from $362.92 billion in 2021 to $404.11 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The global life and health reinsurance market size is then expected to grow to $600.00 billion in 2026 at a CAGR of 10.4%.
What is the Global Life and Health Reinsurance Market?
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.
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What drives the Global Life and Health Reinsurance Market?
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. COVID-19 outbreak has raised the importance and demand for life insurance in the minds of the people. The uncertainty of getting contracted with COVID-19 and its high treatment cost in private hospitals is the main reason behind the surge in the demand for life and health insurance policies. Therefore, increased demand for life and health insurance policies is expected to impact the market for life and health reinsurance positively.
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Global Life and Health Reinsurance Market Segments
The global life and health reinsurance market is segmented:
By Type: Facultative Reinsurance, Treaty Reinsurance
By Distribution Channel: Direct Response, Agents and Brokers, Banks, Others
By Product: Life, Health
By Geography: The regions covered in the life and health reinsurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global life and health reinsurance market.
Life and Health Reinsurance Global Market Report 2022provides market size and growth forecasts for the global life and health reinsurance market, global life and health reinsurance market share, life and health reinsurance market segments and geographies, life and health reinsurance market competitive landscape including 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.
Global Life and Health Reinsurance Industry Playersinclude Swiss Reinsurance Company Ltd, Munich Re Group, Reinsurance Group of America (RGA), SCOR SE, Hannover Re, China Reinsurance Corporation, Berkshire Hathaway Re, PartnerRe Ltd., Korean Reinsurance Company, Taiping Reinsurance Co., Great-West Lifeco, and General Insurance Corporation of India (GIC Re). Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
