Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The Global Reinsurance Providers Market Research Report provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). It provides an in-depth study of the Reinsurance Providers market by using SWOT analysis. This gives a complete analysis of drivers, restraints, and opportunities of the market. This report presents a comprehensive overview, market size and share, regional and country-level analysis of the Reinsurance Providers market. The segmental analysis focuses on forecast by Type, Application in terms of revenue and forecast for the period 2020-2030.
The global reinsurance providers market is expected to grow from $438 billion in 2019 to $438.9 billion in 2020 at a compound annual growth rate (CAGR) of 0.3%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $554.2 billion in 2023.
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Top Key Players in the Global Reinsurance Providers Market: AXA, Swiss Re, Munich Re, Hannover Re, SCOR SE.
Western Europe was the largest region in the global reinsurance providers market, accounting for 39% of the market in 2019. Asia Pacific was the second largest region accounting for 28% of the global reinsurance providers market. South America was the smallest region in the global reinsurance providers market.
Cyber reinsurance is growing in demand with increasing incidents of internet fraud and cyber risk. Cyber insurance is becoming popular due to the high cyber risk factors involved in the banking and information technology industries, which are susceptible to data breaches and internet frauds. In 2015, cyber-related fraud costs were estimated to be around $500 billion and are expected to reach $2 trillion by 2019.
The reinsurance providers market consists of sales of reinsurance by entities (organizations, sole traders and partnerships) that assume all or part of the risk of existing insurance policies originally underwritten by other insurance providers (direct insurance carriers). Reinsurance providers invest premiums collected from insurance providers to build up a portfolio of financial assets to be used against future claims. The size of the market is based on the value of the premiums reinsured.
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Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Reinsurance Providers market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
Table of Contents:
Executive Summary: It includes key trends of the Reinsurance Providers market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the Reinsurance Providers market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Reinsurance Providers market.
Market Segments: This part of the report discusses product type and application segments of the Reinsurance Providers market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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