Reinsurance Market to hit USD 464.1 billion by 2032, says Global Market Insights Inc.

Reinsurance Industry is projected to witness a CAGR of 3.9% during the period 2023-2032. This growth can be attributed to the growing natural and man-made catastrophic events.

Selbyville, Delaware, Aug. 21, 2023 (GLOBE NEWSWIRE) --

Reinsurance Market size is expected to be worth USD 464.1 billion by 2032. The escalating concerns surrounding cybersecurity and data privacy is the major factor contributing to the industry development. With the expanding digital interactions and data reliance, multiple businesses and individuals have turned increasingly vulnerable to cyber threats.

Request for a sample of this research report @

The rising challenges faced by insurers in providing comprehensive coverage have highlighted the importance of reinsurers for offering specialized reinsurance products to help primary insurers manage and transfer cyber-related risks. This evolving landscape of cyber threats and data breaches has further compelled insurers to seek reinsurance partnerships for risk mitigation in the realm of cybersecurity and data privacy.

Life & Health reinsurance to witness high demand

The reinsurance market size from the life & health segment generated more than USD 131 billion in 2022. This is driven by rising advancements in medical technology and the growing concerns among consumers regarding health and wellness. Reinsurers provide a safety net for insurers, absorbing portions of the risk in exchange for premiums. The surging encouragement to insurers for underwriting policies confidently and mitigating large losses through reinsurance.

Facultative Reinsurance to gain significant momentum

The facultative reinsurance market is anticipated to register substantial expansion, reaching over USD 202 billion by 2032. The evolution of various industries and the higher complexity of risks has steered the rising preference for facultative reinsurance by insurers to ensure comprehensive coverage and manage their exposure effectively. This targeted approach enables insurers to navigate intricate risks confidently while accessing the expertise and capacity of reinsurers. Moreover, the robust ability to address unique and evolving risks across various sectors will drive the demand for facultative reinsurance.

Europe to emerge as a lucrative market destination

Europe reinsurance market share is poised to be worth more than USD 112 billion by 2032 driven by regulatory reforms, economic stability, and the rising need for specialized coverage. The emergence of insurtech startups has led to the growing number of collaborations with traditional reinsurers. Furthermore, several industry participants are extending their services throughout the area to provide clients with solutions to transfer risk and aid in understanding their hazard exposure. For instance, leading cyber insurance provider, Resilience extended its business in Europe for serving clients in Spain, Denmark, Ireland, Italy, and Sweden.

Request for Report Customization @

Reinsurance Industry Participants

Some of the major companies operating in the reinsurance market are Everest Re Group, Ltd., China Reinsurance (Group) Corporation, Berkshire Hathaway Inc., Lloyd’s, Hannover Re, AXA XL, MAPFRE, Markel Corporation, Munich RE, Swiss Re, SCOR, and The Canada Life Assurance Company. These players are focusing on enhancing the efficiency of reinsurance across the globe for scaled revenues.

For instance, in January 2023, Hannover Re introduced novel retrocession option to allow capital markets to participate directly in cyber risk coverage through quota share cession, while its partner Stone Ridge supported the transfer with USD 100 million in capital.

Partial Table of Contents (ToC) of the report:

Chapter 3 Reinsurance Market Industry Insights

3.1 Impact on COVID-19

3.2 Russia- Ukraine war impact

3.3 Industry ecosystem analysis

3.4 Vendor matrix

3.5 Profit margin analysis

3.6 Type & innovation landscape

3.7 Patent analysis

3.8 Key news and initiatives

3.9 Regulatory landscape

3.10 Impact forces

3.10.1 Growth drivers Growing natural and man-made catastrophic events Growing integration of AI and ML across industries Increasing road accidents in North America Growing uncertainties in the global economy Implementation of long-term sustainability and ESG factors

3.10.2 Industry pitfalls & challenges Underpricing and inadequate risk assessment Emerging risks and uncertainties

3.11 Growth potential analysis

3.12 Porter’s analysis

3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction

4.2 Company market share, 2022

4.3 Competitive analysis of major market players, 2022

4.3.1 Munich Re

4.3.2 Swiss Re

4.3.3 Hannover Re

4.3.4 Berkshire Hathaway Inc.

4.3.5 The Canada Life Assurance Company

4.3.6 SCOR

4.3.7 China Reinsurance (Group) Corporation

4.4 Competitive positioning matrix, 2022

4.5 Strategic outlook matrix, 2022

Browse Our Reports Store - GMIPulse @

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


Contact Data