Strong economic growth in emerging markets, government-led reforms, rising healthcare costs and an increase in natural disasters are driving growth
Global life and health reinsurance market
Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) — The report “Life And Health Reinsurance Global Market Opportunities And Strategies To 2031” has been added to ResearchAndMarkets.com’s offer.
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 during the historical period was driven by 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 illnesses and disabilities, the impact of COVID-19, growing middle-class populations in emerging markets, and increased claims in the life insurance industry will drive market growth. Factors that may hamper market growth in the future include consumers who view insurance as not being of premium quality and additional fees charged 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, followed by other regions. Going forward, the fastest growing regions in the life and health reinsurance market will be South America and Africa, where growth will reach CAGRs of 7.4% and 7.0% respectively. . This is 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 major opportunities in the life and health reinsurance market segmented by type will arise in the treaty reinsurance segment, which will earn $43.2 billion in global annual sales by 2026. life and health reinsurance segmented by distribution channel will show up in the direct response segment, which will earn $21.9 billion in global annual sales by 2026. Top opportunities in the life and health reinsurance market segmented by product will show up in the life segment, which will earn $25.3 billion in global annual sales by 2026. The life and health reinsurance market will earn the most in the United States with $17.5 billion.
Market trend-based strategies for the life and health reinsurance market include adoption of automated reinsurance platforms, increase in applications of artificial intelligence, use of blockchain technology, and growing number of Mergers and Acquisitions.
Strategies adopted by players in the life and health reinsurance industry include offering digital solutions, expanding business through strategic acquisitions and partnerships, and increasing investment in new products and services.
Main market trends
Adoption of automated reinsurance platforms
Increase in artificial intelligence applications
Use of Blockchain technology
Increase in the number of mergers and acquisitions
1) By Type: Facultative Reinsurance; Reinsurance treaty
2) By distribution channel: direct response; Agents and brokers; Banks
3) By product: life; Health
Main topics covered:
1. Executive Summary of Life and Health Reinsurance Market
2. Table of Contents
3. List of Figures
4. List of tables
5. Structure of the report
6. Introduction and characteristics of the market
7. Key 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 American market
15. South America market
16. Middle East market
17. African market
18. Competitive Landscape and Company Profiles
19. Major 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
For more information on this report, visit https://www.researchandmarkets.com/r/hxe802
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