Dublin, May 02, 2023 (GLOBE NEWSWIRE) -- The "Reinsurance Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global reinsurance market grew from $574.27 billion in 2022 to $632.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The reinsurance market is expected to grow to $895.4 billion in 2027 at a CAGR of 9.1%.
Reinsurance providers are integrating their processes with blockchain technology to reduce costs, increase efficiency, transparency, and security associated with client data and other financial transactions. A blockchain is a distributed decentralised ledger and is a shared database (can be saved, owned, and updated at different levels), not managed by a central authority, comprising secure transactions that are authenticated and verifiable.
It reduces processing time and transaction costs, improves compliance, avoids re-entries, claims leakages, and fraud, minimises time to settle losses, and ensures cryptographic security. For instance, blockchain technology could reduce the costs of reinsurance companies by more than $5 billion globally.
Western Europe was the largest region in the reinsurance market in 2022. The Asia-Pacific was the second largest region in the reinsurance market. The regions covered in the reinsurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the reinsurance market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Scope
Markets Covered:
1) By Type: Property And Casualty Reinsurance; Life And Health Reinsurance
2) By Distribution Channel: Direct Writing; Broker
3) By Mode: Online; Offline
4) By Organization Location: Domestic; International
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $632.15 billion |
| Forecasted Market Value (USD) by 2027 | $895.4 billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Reinsurance Market Characteristics
4. Reinsurance Market Product Analysis
5. Reinsurance Market Supply Chain
6. Reinsurance Market Customer Information
7. Reinsurance Market Trends And Strategies
8. Reinsurance Market - Macro Economic Scenario
9. Reinsurance Market Size And Growth
10. Reinsurance Market Regional Analysis
11. Reinsurance Market Segmentation
12. Reinsurance Market Metrics
13. Asia-Pacific Reinsurance Market
14. Western Europe Reinsurance Market
15. Eastern Europe Reinsurance Market
16. North America Reinsurance Market
17. South America Reinsurance Market
18. Middle East Reinsurance Market
19. Africa Reinsurance Market
20. Reinsurance Market Competitive Landscape
21. Key Mergers And Acquisitions In The Reinsurance Market
22. Market Background: Insurance(Providers, Brokers and Re-Insurers) Market
23. Recommendations
24. Appendix
A selection of companies mentioned in this report includes
- Munich Re
- Swiss Re
- Hannover Re
- Talanx
- SCOR SE
- Berkshire Hathaway Inc.
- China Reinsurance (Group) Corp
- Lloyd's of London
- Axa Group
- Reinsurance Group of America Inc
For more information about this report visit https://www.researchandmarkets.com/r/bav99y
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