Reinsurance Market to be Worth US$ 364.59 Bn by 2026, States TMR

ALBANY, New York, January 29, 2019 /PRNewswire/ --

According to a new market report published by Transparency Market Research titled "Reinsurance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026," the global reinsurance market was valued at US$ 241.14 Bn in 2017 and is expected to expand at a CAGR of 4.7% from 2018 to 2026, reaching a value of US$ 364.59 Bn by the end of the forecast period. According to the report, North America was a significant contributor to the reinsurance market in terms of revenue in 2017. The prominent market share of the region is due to the favorable regulatory environment and growth in property catastrophe protection in the reinsurance market across the region, especially in the U.S. and Canada.

     (Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg )

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=55410

Favorable regulatory environment and growth in property catastrophe protection driving the Global Reinsurance Market 

The global reinsurance market is currently driven by a favorable regulatory environment. Growing focus on sustainable growth has led to the relaxation in government rules globally. For instance, in September 2018, Insurance Regulatory and Development Authority (IRDA) approved revised reinsurance regulations in India. The core purpose behind revamping the regulations is that the maximum reinsurance business is held inside the nation and preference would be given to Indian domiciled entities. In 2016, the new SSN (Superintendence of Insurance) authorities removed the regulations which set minimum limits of insurers in projects involving small and medium enterprise. The new regulation now defines only maximum limits.

Request a Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=55410

Current regulatory variations are pushing the market to have fewer number of highly capitalized insurance companies. There are a large number of local players that need more capital to play in niche markets. Subsequently, demand for financial reinsurance is expected to increase in the coming years. Furthermore, increasing activity of foreign reinsurers in the global reinsurance market is contributing significantly to the growth of the market. Thus, increasing regulatory oversight initiatives is expected to enhance reinsurance penetration, as they are expected to promote self-assurance in the insurance industry. Therefore, a favorable regulatory environment is expected to have a long term impact on the reinsurance market. Growing number of such favorable regulations by several government entities are expected to boost the reinsurance market in the coming years.

Request for Multiple Chapters - https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=55410

Demand for property catastrophe protection is expected to contribute significantly to insurance renewals, provisioning any material reinsured loss. Furthermore, industries such as aviation, marine, automotive, healthcare, and agriculture are expected to show huge growth due to the high insurance penetration combined with the need to guard high value assets. Moreover, occurrence of natural calamities is encouraging individuals to avail reinsurance. Lack of disposable income is one of the major factors limiting the market growth. However, rising economic activities across the globe is expected to enhance investment in the insurance sector in the near future. The impact of this restraint is expected to remain low in the coming years.

Reinsurance Market: Scope of the Report 

Based on distribution channel, the global reinsurance market has been segmented into direct writing and broker. The broker segment is expected to expand at a higher CAGR, thus becoming the leading revenue generating segment by 2026. This is primarily because of increase in number of brokers, especially across North America and Europe. Based on end-user, the global reinsurance market has been segmented into life & health reinsurance companies and non-life/property & casualty reinsurance companies. Furthermore, based on region, the global reinsurance market has been segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa.

Global Reinsurance Market: Competitive Dynamics 

Key players operating in the global reinsurance market include Barents Re Reinsurance, Inc., Berkshire Hathaway Inc., BMS Group Ltd., China Reinsurance (Group) Corporation, Everest Re Group, Ltd., Hannover Re, IRB-Brasil Resseguros S.A., Lloyd's, Munich Re, Odyssey Reinsurance, PartnerRe, Reinsurance Group of America, Incorporated, SCOR SE, and Swiss RE Group.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=55410

Reinsurance Market has been segmented as below: 

Market Segmentation: Global Reinsurance Market 

By Distribution Channel 

• Direct Writing
• Broker

By End-user 

• Life & Health Reinsurance Companies
• Non-Life/Property & Casualty Reinsurance Companies

By Country/Region 

• North America
  • The U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • The U.K.
  • Germany
  • Italy
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East &Africa
• South America
  • Brazil
  • Argentina
  • Chile
  • Colombia
  • Panama
  • Rest of South America

Browse More IT & Telecom Market Research Reports

Popular Research Reports by TMR: 

• Tokenization Market - https://www.transparencymarketresearch.com/tokenization-market.html
  
• Master Data Management Market - https://www.transparencymarketresearch.com/master-data-management-market.html
  
• Data Protection as a Service (DPaaS) Market - https://www.transparencymarketresearch.com/data-protection-as-a-service-dpaas-market.html

About Us 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]

Website: https://www.transparencymarketresearch.com
Research Blog: https://transparencyjournal.com/

SOURCE Transparency Market Research