The reinsurance providers market includes establishments engaged in assuming all or part of the risk with existing insurance policies originally underwritten by other insurance providers (direct insurance carriers). Reinsurance providers invest premiums collected from insurance providers to build up a portfolio of financial assets to be used against future claims.
The top five companies covered are AXA, Swiss Re, Munich Re, Hannover Re, and SCOR SE. AXA was the largest company in the reinsurance providers market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Reinsurance Providers Global Market Size
The global reinsurance providers market was valued at close to $325 billion in 2017. Asia Pacific was the largest region in the reinsurance providers market in 2017, accounting for around 38% of the total market. The USA was the largest country in the market in 2017, accounting for around 20% of the total market.
Reinsurance Providers Global Market Trend
Reinsurers across the globe are offering bundled products and services to enhance their revenues. This change is a result of diverse choice, attractive prices and broader coverage offered by reinsurers to gain additional market share and cut down costs. This approach has helped global reinsurers to close business deals at a group level, thereby reducing the need for reinsurance at different levels.
Reinsurance Providers Global Market Segmentation
The reinsurance providers market is segmented into Property & Casualty Reinsurance Providers, and Life & Health Reinsurance Providers
Non-Life Reinsurance Providers are entities engaged in assuming all or part of the risk associated with existing insurance policies that protect policy holders against future uncertain losses that may occur as a result of property damage or contingent liability originally underwritten by other insurance providers.
Life Reinsurance Providers are entities engaged in assuming all or part of the risk associated with existing life insurance policies, disability income insurance policies and accidental death and dismemberment insurance policies originally underwritten by other insurance providers.