Reinsurance Market Report by Technavio predicts USD 328.62 Bn growth — Driven by increasing awareness of insurance products in emerging markets

Date:


NEW YORK, Sept. 5, 2022 /PRNewswire/ — The reinsurance market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the reinsurance market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

Latest market research report titled Reinsurance Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026 has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years

The report on the reinsurance market by Technavio expects the market size to increase at a CAGR of 10.1% and register an incremental growth of USD 328.62 billion between 2021 and 2026. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: vulnerability to cybercrimes and lower interest rates due to market softening.

According to Technavio, the growth of the market is primarily driven by increasing awareness of insurance products in emerging markets.

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The insurance market in developing countries is growing rapidly. People have been proactively buying insurance for life and health, property, and casualty. The rising awareness of the importance of insurance among people and the presence of stricter government regulations are leading to an increase in the sale of insurance products. All these factors are driving the growth of the global reinsurance market.

“Increasing geriatric population and the emergence of new products in the market will further accelerate the growth of the market”, says an analyst at Technavio.

The global reinsurance market is fragmented in nature. The vendors are from all over the world, mainly from the US, the UK, and some Asian countries. Key players operating in the global reinsurance market include Swiss Re, Munich Re, Berkshire Hathaway, and Lloyds. The global reinsurance market is in its growth phase. Large vendors are acquiring smaller vendors to expand their product portfolios and expand their market shares. There are other prominent vendors as well, which hold a significant position in the market. The market demands innovation and better service.

To survive in this intensely competitive environment, it becomes imperative for vendors to distinguish their product and service offerings through clear and unique value propositions. Intense competition, rapid advances in technology, and frequent changes in end-user preferences constitute significant risks for vendors.

The report breaks down the market into the following segments:

  • Product: non-life reinsurance and life insurance

  • Geography: North America, APAC, Europe, South America, and MEA

Based on the product, the non-life insurance segment is expected to create more revenue in the market. The segment is driven by growth in property insurance and specialty insurance policies such as energy, marine, and aviation.

In terms of region, APAC will emerge as the dominant region, occupying 35% of the global market share. The regional market is driven by increasing purchasing power and rising awareness among people.

The complete report on the global reinsurance market offers detailed insights on the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.

The reinsurance market report answers questions such as:

  • Is the market structure fragmented or concentrated?

  • What was the market size in 2021 and the forecast for the reinsurance market through 2026?

  • Which are the best product segment areas to invest in over the forecast period?

  • What is the market share of dominant and strong vendors in the reinsurance market?

  • What are the inhibiting factors and the impact of COVID-19 on the reinsurance market growth?

  • What are the latest trends and regulatory frameworks in the reinsurance market?

Got more queries? Speak to our analyst now

Users who bought this report also purchased,

Reinsurance Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.1%

Market growth 2022-2026

USD 328.62 billion

Market structure

Fragmented

YoY growth (%)

9.3

Regional analysis

Europe, APAC, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 35%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arch Capital Group Ltd., Axis Capital Holdings Ltd., Berkshire Hathaway Inc., China Reinsurance Group Corp., DZ Bank, Everest Re Group Ltd., General Insurance Corporation of India, Great West Lifeco Inc., Hannover Re, Korean Reinsurance Co., Lloyds and Corp., Mitsui Sumitomo Insurance Group Holdings Inc., MS and AD Insurance Group Holdings Inc., Munich Reinsurance Co., Odyssey Group Holdings Inc., PartnerRe Ltd., QBE Insurance Group Ltd., RenaissanceRe holdings, SCOR SE, Swiss Re Ltd., and The Toa Reinsurance Co.A Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

Key Topics Covered

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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SOURCE Technavio



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