LONDON, Jan. 25, 2017 /PRNewswire/ -- Life Reinsurance Providers are entities engaged in assuming all or part of the risk associated with existing life insurance policies, disability income insurance policies and accidental death and dismemberment insurance policies originally underwritten by other insurance providers. This includes both government and private owned reinsurance providers. Clients of these reinsurance providers are the direct insurance providers who sell life insurance policies to the public and fellow reinsurance providers who seek retrocession to reduce/share risk. Distribution can be either through direct selling or intermediary.
The Americas was the x largest geographic region in the life & health reinsurance services market in 2016, accounting for $x billion or x% of the global market. Asia was the x largest geographic market, accounting for $x billion or x% of the global market. Europe was the x largest geographic market, accounting for $x billion or x% of the global market. The Middle East and Africa accounted for x% and $x billion, while Oceania accounted for x% of the global life & health reinsurance market.
Reinsurers are Offering Bundled Products
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.
Reinsurers should consider changing their product portfolio, by offering more value-added services and bundled products across various geographies.
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