Reinsurance Market Size and Trends Analysis by Region, Business Lines, Top Markets, Regulatory Overview and Competitive Landscape to 2026

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Reinsurance Market Report Overview

The reinsurance premium of the top 20 reinsurers was worth $323.9 billion in 2021. Growing uncertainties in the global economy, such as the war in Ukraine, pandemic and business interruption and severe Nat-Cat events have increased the importance of reinsurance. Key emerging risks such as social inflation, ESG considerations, climate change, and cyber-risks have given a further impetus to the reinsurance segment and are expected to support its demand in the coming years.

War risks, catastrophe modeling, and capital constraints are some of the key trends that are evolving in the reinsurance landscape. Moreover, the reinsurers are improving their capacity for risk mitigation by leveraging the latest technologies to effectively deal with the uncertainty associated with climate change. The reinsurance market research report provides in-depth market analysis, information, and insights into the global and regional reinsurance industry.

Market Size (2021) $323.9 billion
Key Regions Europe, North America, Asia-Pacific, Middle East & Africa, and South & Central America
Leading Reinsurers Munich Re, Swiss Re, Hannover Rück SE, Canada Life Reinsurance Co., Lloyd’s, SCOR SE, Berkshire Hathaway Inc., China Reinsurance Corp., Allianz SE, and Reinsurance Group of America. In 2021, Munich Re dominated the reinsurance industry and was followed by Swiss Re and Hannover Rück SE
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Reinsurance Market: Key Trends

Inflation Impact on 2023 Renewals: The threat of prolonged inflation could render the reinsurers less profitable in 2023. High long-term inflation is expected to increase reinsurance claims and cause a reserve shortfall. The loss of purchasing power might also restrict business growth, forcing reinsurers to concentrate on underwriting discipline and price adjustments.

Climate Change and Secondary Perils: Climate change will continue to impact the frequency and severity of natural disasters, driving up costs for the reinsurance industry. Thus, reinsurers are re-evaluating risk modeling and catastrophe management frameworks to help quantify possible losses from natural hazards.

Cyberinsurance: The growing severity of ransomware and other cyber extortion has been a prominent driver in price hardening for cyber reinsurance over the last few years. Cyber insurance awareness has grown significantly, with growing exposure and high-profile business losses due to breach incidences. Moreover, reinsurers are tightening underwriting considerations and silent cyber exclusions to limit their exposure.

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Reinsurance Market Segmentation by Regions

The key regions in the reinsurance market are Europe, North America, Asia-Pacific, Middle East & Africa, and South & Central America. In terms of premiums, the European region dominated the reinsurance market in 2021.

Europe: Reinsurance groups have a strong presence in Europe, with subsidiaries in all major European financial sectors such as the UK, Germany, France, Switzerland, the Netherlands, and Ireland. Furthermore, the UK reinsurance segment has positioned itself as one of the largest reinsurance markets and an integral part of the overall international financial services market.

Asia-Pacific: The region represents some of the most mature and fastest-growing insurance industries. The region experienced the highest number of Nat-Cat events in the last three decades, compared to other regions.

North America: The US is the world’s largest (re)insurance industry and comprises both domestic and multi-national reinsurers and brokers. Given the size of the insurance industry, the region accounts for one of the largest reinsurance markets.

Reinsurance Market Analysis by Regions, 2021 (%)

Reinsurance Market Analysis by Regions, 2021 (%)

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Reinsurance Market – Competitive Landscape

The leading reinsurers in the reinsurance market are Munich Re, Swiss Re, Hannover Rück SE, Canada Life Reinsurance Co., Lloyd’s, SCOR SE, Berkshire Hathaway Inc., China Reinsurance Corp., Allianz SE, and Reinsurance Group of America. In 2021, Munich Re had the highest reinsurance market share and was followed by Swiss Re and Hannover Rück SE. European reinsurers dominated the reinsurance industry. China Reinsurance Corp. was the only Asian reinsurer among the top 10 in 2021.

Reinsurance Market Analysis by Reinsurers, 2021 (%)

Reinsurance Market Analysis by Reinsurers, 2021 (%)

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Scope

  • It provides historical values for the global and regional reinsurance industry for the report’s review period, and projected figures for the forecast period.
  • It offers a detailed analysis of the regional reinsurance industry and market forecasts.
  • It provides key market trends in the global reinsurance industry.
  • It analyzes consumer preference in purchasing Reinsurance via different channels.
  • It provides rankings, premiums, and market share of top global and regional reinsurers and analyzes the competitive landscape.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the global and regional Reinsurance industry.
  • In-depth market analysis, information, and insights into the reinsurance industry.
  • In-depth analysis of the competitive landscape and top 20 regional markets.
  • Understand the key dynamics, trends, and growth opportunities in the global and regional reinsurance industry.
  • Identify key regulatory developments impacting the market growth.
  • Identify growth opportunities in key regional markets.

Reinsurance Group of America
Allianz SE
China Reinsurance Corp.
Berkshire Hathaway Inc.
SCOR SE
Lloyd's
Canada Life Reinsurance Co.
Hannover Rück SE
Swiss Re
Munich Re

Table of Contents

Table of Contents

Executive Summary

Key Market Trends

Alternative Capital

Global Overview

Market Size

Top Markets

Competitive Landscape

Market Competition Overview

Company Profiles

Regional Overview

Asia-Pacific

Europe

North America

South and Central America

Appendix

Data Methodology – Tables

Frequently asked questions

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