Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The "Life And Health Reinsurance Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
The life and health reinsurance market reached a value of nearly $152.8 billion in 2021, having grown at a compound annual growth rate (CAGR) of 4.5% since 2016. The market is expected to grow from $152.8 billion in 2021 to $200.3 billion in 2026 at a rate of 5.6%. The market is then expected to grow at a CAGR of 4.7% from 2026 and reach $252.1 billion in 2031.
Growth in the historic period resulted from strong economic growth in emerging markets, government-led insurance reforms, rising healthcare costs and an increase in natural disasters.
Going forward, an increase in chronic diseases and disabilities, impact of COVID-19, growing middle-class population in emerging markets and a rise in claims in the life insurance sector will drive market growth. Factors that could hinder the growth of the market in the future include consumers considering insurance as non-investment grade and additional charges by insurance brokers.
North America was the largest region in the life and health reinsurance market, accounting for 46.9% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the life and health reinsurance market will be South America and Africa where growth will be at CAGRs of 7.4% and 7.0% respectively. These will be followed by Asia Pacific and the Middle East where the markets are expected to grow at CAGRs of 6.0% and 6.0% respectively.
The top opportunities in the life and health reinsurance market segmented by type will arise in the treaty reinsurance segment, which will gain $43.2 billion of global annual sales by 2026. The top opportunities in the life and health reinsurance market segmented by distribution channel will arise in the direct response segment, which will gain $21.9 billion of global annual sales by 2026. The top opportunities in the life and health reinsurance market segmented by product will arise in the life segment, which will gain $25.3 billion of global annual sales by 2026. The life and health reinsurance market will gain the most in the USA at $17.5 billion.
Market-trend-based strategies for the life and health reinsurance market include adoption of automated reinsurance platforms, increasing applications of artificial intelligence, use of blockchain technology and increasing number of mergers and acquisitions.
Player-adopted strategies in the life and health reinsurance industry include offering digital solutions, expanding business through strategic acquisitions and partnerships and increasing investments in new products and services.
Major Market Trends
- Adoption Of Automated Reinsurance Platforms
- Increasing Applications Of Artificial Intelligence
- Use Of Blockchain Technology
- Increasing Number Of Mergers And Acquisitions
Scope:
Markets Covered:
1) By Type: Facultative Reinsurance; Treaty Reinsurance
2) By Distribution Channel: Direct Response; Agents and Brokers; Banks
3) By Product: Life; Health
Key Topics Covered:
1. Life And Health Reinsurance Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
7. Major Market Trends
8. Global Market Size And Growth
9. Global Life And Health Reinsurance Market Segmentation
10. Life And Health Reinsurance Market, Regional And Country Analysis
11. Asia Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
18. Competitive Landscape And Company Profiles
19. Key Mergers And Acquisitions In The Market
20. Global Life And Health Reinsurance Market Opportunities And Strategies
21. Life And Health Reinsurance Market, Conclusions And Recommendations
22. Appendix
Companies Mentioned
- Swiss Re Ltd.
- Munich Reinsurance Company
- SCOR S.E.
- China Reinsurance (Group) Corporation
- Hannover Ruck S.E.
For more information about this report visit https://www.researchandmarkets.com/r/hxe802
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