Global Reinsurance Carriers - Industry Market Research Report

Global Reinsurance Carriers

Global reinsurance carriers focus on assuming all or part of the risk associated with existing insurance policies originally underwritten by direct insurance carriers. The essential function of these carriers is to insure insurance companies. The industry performed well during the current period because rising healthcare expenditure increased premiums for health insurance companies. These insurers increased their demand for global reinsurance carriers to hedge against risk. The industry also performed well in the years before COVID-19, as soaring equity markets increased demand from insurance companies and boosted investment income for the industry. The pandemic reduced global consumer spending and per capita disposable income, discouraging spending on primary insurance products. This reduced demand from primary insurers, hindering revenue growth. Higher interest rates worldwide have decreased expenditure on cars, homes and other big items, reducing demand for property and casualty (P&C) insurance. Since P&C insurers are a major buyer of global reinsurance, their poor performance has caused revenue to decline recently. Overall, revenue for global reinsurance carriers is expected to grow at a CAGR of 3.4% during the current period, reaching $335.4 billion in 2023. Revenue is expected to creep upward 0.3% in that year.

Global reinsurance carriers focus on assuming all or part of the risk associated with existing insurance policies originally underwritten by direct insurance carriers. In other words, the primary activity of this industry is insuring insurance companies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.