Health and Medical Reinsurance Market Report 2026

The health and medical reinsurance market size has grown strongly in recent years. It will grow from $76.32 billion in 2025 to $82.46 billion in 2026 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to increasing healthcare expenditure levels, growth in insured population size, expansion of private health insurance coverage, rising incidence of chronic diseases, increased volatility in medical claim costs.

The health and medical reinsurance market size is expected to see strong growth in the next few years. It will grow to $111.11 billion in 2030 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing adoption of AI-driven underwriting models, rising demand for flexible reinsurance structures, expansion of cross-border health coverage, increasing focus on catastrophic risk protection, growing use of advanced actuarial analytics. Major trends in the forecast period include increasing adoption of data-driven risk pooling models, rising demand for high-cost claim protection, growing use of predictive healthcare analytics, expansion of global reinsurance partnerships, enhanced focus on capital adequacy optimization.

The rising incidence of chronic diseases is expected to drive the growth of the health and medical reinsurance market. Chronic diseases are long-term health conditions that develop gradually and often require continuous medical care. Their growing prevalence is partly linked to sedentary lifestyles, where prolonged sitting and low physical activity increase the risk of conditions such as heart disease and diabetes. Health and medical reinsurance play a key role in managing these conditions by sharing the financial burden of long-term treatments, enabling insurers to provide ongoing care. It helps stabilize healthcare costs by covering high-risk claims, ensuring patients with chronic conditions have consistent access to medical services. For example, in June 2024, the UK’s National Health Service reported that 3,615,330 individuals registered with a general practitioner were diagnosed with non-diabetic hyperglycemia or pre-diabetes in 2023, an 18% rise from 3,065,825 cases in 2022. This increasing disease burden is contributing to the market’s growth.

Companies in the health and medical reinsurance market are pursuing strategic expansions to strengthen regional presence and boost reinsurance capacity. Strategic expansion involves deliberate efforts by reinsurers or primary insurers to broaden or diversify operations in ways that enhance market position, financial stability, and risk management capabilities in healthcare. For instance, in January 2025, Aon plc, a UK-based insurance company, launched a life and health reinsurance practice in India. This initiative supports the sector’s growth, attracts global reinsurance capital, and aligns with government reforms. The practice provides tailored reinsurance solutions for life, health, and critical illness risks, addressing the increasing complexity of the Indian insurance market and helping clients make informed decisions.

In January 2024, Arthur J. Gallagher & Co., a U.S.-based insurance company, acquired 11492446 Canada Inc. (MGB Re) for an undisclosed amount. The acquisition expands Gallagher’s capabilities in health and medical reinsurance and strengthens its presence in the Canadian market. MGB Re, based in Canada, is a reinsurance brokerage specializing in health and medical reinsurance solutions.

Major companies operating in the health and medical reinsurance market are Berkshire Hathaway Reinsurance Group, Allianz Reinsurance, Munich Reinsurance Company, MS&AD Insurance Group Holdings Inc., Swiss Reinsurance Company Ltd, Hannover Rück SE, Mapfre Re Compañía de Reaseguros S.A., SCOR SE, RGA Reinsurance Company, China Reinsurance Group Corporation, QBE Reinsurance, Everest Re Group Ltd., Validus Reinsurance Ltd., AXA XL Reinsurance, PartnerRe Ltd., AXIS Capital Holdings Limited, Korean Reinsurance Company, General Reinsurance Corporation, Transatlantic Reinsurance Company, Odyssey Re Holdings Corp.

North America was the largest region in the health and medical reinsurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the health and medical reinsurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the health and medical reinsurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The health and medical reinsurance market includes revenues earned by entities by providing services such as risk pooling and risk sharing, capital relief and solvency support, claims management support, product development consulting, and catastrophic event coverage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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