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Reinsurance Market Share

Report ID: GMI6139
Published Date: Jul 2024
Report Format: PDF

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Reinsurance Market Share

Munich Re and Hannover Re together hold 28% of the market share. Munich Re strategically diversifies its portfolio across regions and business lines, a move that not only mitigates risks but also bolsters its earnings stability. With a global presence, Munich Re capitalizes on its broad network and market acumen.

Hannover Re opts for a more focused strategy, focusing on selected niche markets and business lines where it can leverage its expertise and competitive edge. This targeted approach enables Hannover Re to tailor its services to meet specialized demands. The company places a strong emphasis on strong risk management, employing cutting-edge modelling and analytics to effectively gauge and mitigate its risk exposure.

Reinsurance Market Companies

Major players operating in the reinsurance industry are:

Munich Re
Hannover Re
Berkshire Hathaway
China Reinsurance Corporation
Swiss Re
Lloyd’s
Everest Re Group Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of reinsurance reached USD 350.1 billion in 2023 and will record a CAGR of 6.5% between 2024 and 2032, owing to the factors like population growth, urbanization, and changing age profiles.

The treaty reinsurance segment was valued at over USD 207 billion in 2023, driven by the increasing size and complexity of insurance portfolios.

North America market held a dominant share of around 32% in 2023, backed by the increase in the frequency and severity of natural disasters, including hurricanes, wildfires, and floods.

AXA XL, Berkshire Hathaway Inc., China Reinsurance (Group) Corporation, Everest Re Group, Ltd., Hannover Re, Lloyd