How big is the parametric insurance market?

The market size of parametric insurance was valued at USD 16.2 billion in 2024 and is expected to reach around USD 51.3 billion by 2034, growing at 12.6% CAGR through 2034.

How much is the U.S. parametric insurance market worth in 2024?

The U.S. market of parametric insurance was worth over USD 5.5 billion in 2024.

Who are the key players in parametric insurance industry?

Some of the major players in the industry include AXA, AIG (American International Group), Allianz, Aon, Berkshire Hathaway Specialty Insurance, Chubb, Lloyd's of London, Marsh & McLennan, Munich Re, and Swiss Re.

What is the growth rate of the natural catastrophe insurance segment in the parametric insurance industry?

The natural catastrophe insurance segment accounted for 70% market share in 2024.

Parametric Insurance Market Share

Report ID: GMI10544

Published Date: March 2025

Report Format: PDF

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Parametric Insurance Market Share

AXA and Munich Re dominate the market with a combined market share of over 20% in 2023. AXA has been focusing on innovating and creating new parametric insurance solutions that are suited to the unique requirements of various markets and sectors. This includes new threats such as cyber hazards, supply chain disruptions, and pandemics in addition to the conventional weather-related parametric coverage.

Munich Re provides insurers, public sector organizations, and corporate clients with tailored parametric insurance solutions that are tailored to their specific risk profiles & operational requirements. Munich Re offers its clients clear and predictable coverage against risks through its parametric policies, which are very flexible & adaptable.

Parametric Insurance Market Companies

Major players operating in the parametric insurance industry are:

AXA
AIG (American International Group)
Allianz
Berkshire Hathaway
Chubb
Lloyd's of London
Munich Re
Nephila Capital
Swiss Re
Zurich Insurance Group

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Question(FAQ) :

How big is the parametric insurance market?: The market size of parametric insurance was valued at USD 16.2 billion in 2024 and is expected to reach around USD 51.3 billion by 2034, growing at 12.6% CAGR through 2034.
How much is the U.S. parametric insurance market worth in 2024?: The U.S. market of parametric insurance was worth over USD 5.5 billion in 2024.
Who are the key players in parametric insurance industry?: Some of the major players in the industry include AXA, AIG (American International Group), Allianz, Aon, Berkshire Hathaway Specialty Insurance, Chubb, Lloyd's of London, Marsh & McLennan, Munich Re, and Swiss Re.
What is the growth rate of the natural catastrophe insurance segment in the parametric insurance industry?: The natural catastrophe insurance segment accounted for 70% market share in 2024.

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Authors: Preeti Wadhwani, Aishvarya Ambekar

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Base Year: 2024

Companies covered: 20

Tables & Figures: 200

Countries covered: 18

Pages: 177

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Parametric Insurance Market Share

Parametric Insurance Market Share

Parametric Insurance Market Companies

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