The Reinsurance Market to witnessed good recovery in growth post first half of 2020 and is projected coverup market sizing during the forecast period (2021-2026). The assessment provides a 360° view and insights – outlining the key outcomes of the Reinsurance market, current scenario analysis that highlights slowdown aims to provide unique strategies and solutions following and benchmarking key players strategies. In addition, the study helps with competition insights of emerging players in understanding the companies more precisely to make better informed decisions. some of the key players that are part of coverage are General Insurance Corporation of India (GIC), Axa France Vie – India Reinsurance Branch, General Reinsurance AG – India Branch, Hannover Re – India Branch, Lloyd’s India , Munich Re India Services Private Limited, RGA Life Reinsurance Company of Canada – India Branch, Scor Se – India Branch, Swiss Re Services India Private Limited, XL Insurance Company SE – India Reinsurance Branch.
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If you are involved in the Reinsurance industry or intend to be, then this study will provide you comprehensive outlook. It’s vital you keep your market knowledge up to date segmented by types, application and major players. If you are targeting different set of players/manufacturers according to regional or country of your interest we can provide customized study according to that.
India is the fastest-growing reinsurance market in the world. The industry is expected to witness notable growth due to the recent regulatory changes imposed by the Insurance Regulatory and Development Authority of India (IRDAI), which encourages offshore companies to set up operations in the country. Further, low insurance penetration, frequent occurrence of severe catastrophes, recent regulatory reforms pertaining to crop insurance, and the entry of numerous foreign players are expected to propel industry growth during the forecast period.
The total premium generated from the reinsurance market was valued at ~INR 460.59 Bn in FY 2019 and is expected to reach ~INR 989.75 Bn by FY 2025, expanding at a CAGR of ~14.03 % during the FY 2020-FY 2025 period.
The General Insurance Corporation (GIC) has a monopoly in the market with more than 80% stake in the Indian reinsurance business. Foreign players like AXA France Ve, Munich Re and Swiss Re have been underwriting risks for Indian insurers. They have also been gradually increasing their share in the industry since 2017.
Further, in terms of operations, non-life insurance business accounted for more than 95% of the total premium ceded in FY 2019. Fire and motor insurance businesses add the highest share of the premium to the Indian reinsurance industry.
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Adoption of new technologies, capital market structuring techniques, and bundling of value-added services are expected to drive the reinsurance industry in the coming years. The industry is witnessing a change in the service offerings to optimize operations and the overall business model. Further, innovative solutions such as InsurTech are expected to transform the industry value chain during the forecast period.
Impact of COVID-19:
Reinsurers and insurers have been severely affected by the economic repercussions in the wake of the pandemic.
New insurance businesses have been postponed, existing renewals have been delayed, and industry players are scouting for new products, channels, pricing discounts, and even new regulatory compliance requirements. The impact is most significant across the casualty, property, marine, liability, and contingency classes of business.
However, technology is expected to be the most noteworthy remedial measure to assess and manage the impact of the pandemic on the industry.
Each competitor/company profiled in the study includes:
* Company Profile * Main Business Information * SWOT Analysis * Sales, Revenue, Price and Gross Margin * %Market Share
The key insights of the report:
1.The report provides key statistics on the market status of the Reinsurance manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2. Basic overview of the industry including its definition, applications and manufacturing technology.
3. Company profile, product specifications, capacity, production value, and market shares for key players.
4. The total market is further divided by company, by country, and by application and type to better demonstrate segment analysis.
5. To estimates 2020-2026 market development trends of Reinsurance Market.
6. Analysis of upstream materials, downstream demand, and current market dynamics is also carried out ……………………
Reasons to Purchase this Report:
* Reinsurance Market Analysing the outlook of the market with the recent trends and SWOT analysis * Reinsurance Market dynamics scenario, along with growth opportunities of the market in the years to come
* Reinsurance Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects * Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Reinsurance Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
Important Extracts from Table of Content
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Methodology
3.2.1 Primary Sources
3.2.2 Secondary Sources
Chapter 4 Reinsurance Market Landscape
4.1 Market Overview
4.3 Application/End Users
Chapter 5 Reinsurance Market Trend Analysis
Chapter 6 Reinsurance Market Sizing & Estimates by Revenue, Sales Volume & Price
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