About Life Reinsurance
Life reinsurance is a specific type of reinsurance used by life insurance companies. Reinsurance in general is basically insurance for insurance companies. It allows an insurance company to share some of the risk it takes on with another the traditional reinsurance market is increased by 9% from the previous year. the major reasons behind the high growth is lower catastrophe activity across the globe, an increase in investment from various companies. The traditional capital is driven by premium growth, an unusually favorable condition for investment. Because of all these operating performances, this market is growing at a good rate. As the global reinsurance market is seeing an increasing number of market developments and innovations across the globe. The leading companies are operating in this industry are focusing on various market growth initiatives such as mergers and acquisitions, collaboration, new product launch, and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.6% |
There are various companies that are exploring in this market, the companies are spending to expand their footprint across new geographical regions. The market leaders are adopting various market strategies such as mergers & acquisitions, expansions, investments, new solution launches, and collaborations as their strategies. Analyst at AMA Research estimates that Germany Players will contribute the maximum growth to Global Life Reinsurance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Swiss Re Ltd. (Switzerland), Munich Reinsurance Company (Germany), Hannover Ruck S.E (Germany), SCOR S.E. (France), Berkshire Hathaway Inc. (United States), Lloyd’s (United Kingdom), China Reinsurance (Group) Corporation (China), Reinsurance Group of America Inc. (United States), Great West Lifeco (Canada) and Korean Reinsurance Company (South Korea) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are PartnerRe Ltd. (Bermuda), Everest Re Group Ltd. (Bermuda), Unified Life Insurance Company (United States), XL Bermuda Ltd. (Bermuda) and Prudential Financial, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Life Reinsurance market by and Region.
On the basis of geography, the market of Life Reinsurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distrubution Channels, the sub-segment i.e. Direct Sales will boost the Life Reinsurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Type, the sub-segment i.e. Facultative Reinsurance will boost the Life Reinsurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Asset Composition, the sub-segment i.e. Debt Securities will boost the Life Reinsurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Handling Profitable Pressure Because of Low-Interest Rate Environment and Rapid Development of New Technologies Such as Big Data, Blockchain, AI, and Others.
Market Growth Drivers:
Growing Demand Across the North America Region Across the Globe in Terms of Premium Volume, And Is Expected to Continue High Growth. Because Of the Increasing Presence of Insurance Tech in this Industry.
Challenges:
The current low-interest-rate environment makes it difficult for reinsurers to generate strong returns on their investments.
Restraints:
Stringent Regulations and Lack of Awareness Among Asia Pacific Regions
Opportunities:
Increase Awareness Among End Users
Market Leaders and their expansionary development strategies
In January 2024, Specialised asset management firm, Obra Capital, Inc., has acquired Unified Life Insurance Company, a life and health insurance carrier with approximately 100,000 active policyholders and 49 associated licenses. The acquisition will also add complementary investment opportunities including in reinsurance and primary issuance, as well as the ability to continue growing the platform through additional M&A.
In September 2023 - Prudential Financial, Inc. and Warburg Pincus has launched of Prismic Life Reinsurance, Ltd. (Prismic), a licensed Class E Bermuda-based life and annuity reinsurance company. Through expanded reinsurance capacity, Prudential expects Prismic will allow the company to provide more people with access to its industry-leading life and annuity products.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Life Reinsurance Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.