Dallas, TX -- (SBWire) -- 10/19/2018 --Reinsurance can be described as insurance for insurers or in other words stop-loss insurance. Reinsurance is an act where one party transfers a percentage of their risk folios to other party in form of an agreement, this supports ceding party paying a large obligation resulting from an insurance claim. Furthermore Asia-Pacific region is expected to acquire the major global and Chinese reinsurance industry market share over the forecast period (2013-2023), especially China will be dominating the market. China market will be trailed by the faster developing economies including India and certain regions of Southeast Asia. Besides, the U.S, will still play a vital role in developing the trend of reinsurance industry.
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Moreover, the industry is highly concentrated with premiums of top 22 market participants accounting to approximately 90% of the total premiums since past few years. Major market participants of the global and Chinese reinsurance industry market include Swiss Re-insurance Company, Munich Re, Hannover Re, Reinsurance Group of America, SCOR, XL Group Plc, Everest Reinsurance (Bermuda) Ltd., PartnerRe Ltd., Catlin Group Limited and Korean Reinsurance Co et al among others. Munich Re is leading the global and Chinese reinsurance industry market as its premium in past year had exceeded 14.16%. Another major companies followed by Munich Re are Swiss Re-insurance Company and Hannover Re.
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In addition, market is segmented by different types of covers and applications. Type of covers segment has been sub-divided into P&C reinsurance and life reinsurance. On the basis of application market is bifurcated into direct writing and broker.
The major challenge faced by the global and Chinese reinsurance industry is diminished economic growth due to slower growth of developed as well as developing economies. Whereas both interest rates and equity markets witnessed a noteworthy progress in the past years.
For the customer to be able to plan better, the Global and Chinese Reinsurance report provides a detailed list of the key drivers, restraints, and growth trends in the Reinsurance . Using this information, the customer can then plan effectively to gain the maximum share in the Reinsurance with substantial ease instead of consuming a lot of resources for a not so favorable result. Additionally, the report provides information on the entry and growth planning tips for the customer to be more effective in its growth efforts in the Reinsurance .
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Global Reinsurance Market Is Booming Worldwide by Munich Re, Swiss Re-Insurance Company and Hannover Re with Premiums of Top 22 Market Participants Accounting to Approxim
Orbis Research recently announces that, research report Global Reinsurance Market 2018 analyses the crucial factors of the Reinsurance market based on present industry situations, market demands, business strategies adopted by Reinsurance market players and their growth scenario. This report isolates the Reinsurance market based on the key Vendors, Type and Applications.