Dublin, Jan. 27, 2021 (GLOBE NEWSWIRE) -- The "Reinsurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global reinsurance market is expected to grow from $402.35 billion in 2020 to $435.09 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%.
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 $555.99 billion in 2025 at a CAGR of 6%.
Major companies in the reinsurance market include AXA, Swiss Re, Munich Re, Hannover Re and SCOR SE.
Western Europe was the largest region in the global reinsurance market, accounting for 39% of the market in 2020. Asia-Pacific was the second largest region accounting for 28% of the global reinsurance market. South America was the smallest region in the global reinsurance market.
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. For instance, reinsurance companies Generali and Allianz have adopted a bundled approach, enabling them to get better oversight of the global market and cut down the cost of offering reinsurance services.
Reinsurance providers are integrating their processes with blockchain technology to reduce costs, increase efficiency, transparency, security associated with client data and other financial transactions. Blockchain reduces processing time and transactions costs, improves compliance, avoid re-entries, claim leakages and frauds, minimize time to settle losses and ensures cryptographic security. For instance, blockchain technology could save costs of reinsurance companies by more than $5 billion globally.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider reinsurance providers market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentation break-down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The reinsurance providers market section of the report gives context. It compares the reinsurance providers market with other segments of the insurance(providers, brokers and re-insurers) market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, reinsurance providers indicators comparison.
Key Topics Covered
1. Executive Summary
2. Report Structure
3. Reinsurance Market Characteristics
3.1. Market Definition
3.2. Key Segmentation
4. Reinsurance Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Reinsurance Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Reinsurance Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Reinsurance Market Trends and Strategies
8. Impact of COVID-19 on Reinsurance
9. Reinsurance Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Reinsurance Market Regional Analysis
10.1. Global Reinsurance Market, 2020, by Region, Value ($ Billion)
10.2. Global Reinsurance Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Reinsurance Market, Growth and Market Share Comparison, by Region
11. Reinsurance Market Segmentation
11.1. Global Reinsurance Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Property & Casualty Reinsurance
Life & Health Reinsurance
11.2. Global Reinsurance Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.3. Global Reinsurance Market, Segmentation by Mode, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.4. Global Reinsurance Market, Segmentation by Organization Location, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Reinsurance Market Metrics
12.1. Reinsurance Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Reinsurance Market Expenditure, 2015-2025, Global
13. Asia-Pacific Reinsurance Market
14. Western Europe Reinsurance Market
15. Eastern Europe Reinsurance Market
16. North America Reinsurance Market
17. South America Reinsurance Market
18. Middle East Reinsurance Market
19. Africa Reinsurance Market
20. Reinsurance Market Competitive Landscape
21. Key Mergers and Acquisitions in the Reinsurance Market
22. Market Background: Insurance (Providers, Brokers and Re-Insurers) Market
For more information about this report visit https://www.researchandmarkets.com/r/ssakzu
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