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Global Reinsurance Carriers - Industry Market Research Report

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    Report

  • 35 Pages
  • September 2023
  • Region: Global
  • IBISWorld
  • ID: 4061460

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's key players and their market shares.


Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft
  • Swiss Reinsurance Company Ltd.
  • Berkshire Hathaway Inc.

Methodology

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