Rapid Adoption of Reinsurance Policies in Asia-Pacific Region to Spur Growth

Posted by Deeksha on January 31st, 2019

To offbeat potential large scale losses and insolvency, purchase of reinsurance policies by insurance companies has gained traction in recent years. Advantageous regulatory framework and advancement in protection policies across the globe more so in developed economies will likely foster growth in reinsurance market. However, insufficient disposable income in underdeveloped economies is likely to mar growth significantly. A recent research offering titled, 'Reinsurance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026' added to the burgeoning database of Market Research Hub (MRH) evaluates recent developments in reinsurance market space.

Geographical Expansion across Developing Economies Remain Crucial amongst Lead Vendors

In the light of frequent natural calamities such as floods, earthquake, typhoons, and other weather induced conditions, several countries in Asia-Pacific region such as India and China are enthusiastically adopting reinsurance policies. This has prompted multinational entities to expand geographical footing in the region. To keep the growth pace in reinsurance market, leading players are akin on acquiring smaller entities, thereby offering a consolidated vendor landscape.

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Industry Veterans, Barents Re and BMS Rely on Technology Driven Insurance Platform

Additionally, leading reinsurance behemoths are also inclined towards offering ample technological sophistication with inclusion of online platforms. Aqeed.com a renowned insurance technology platform is a brainchild creation of Barents Re and Equitrust is envisioned to offer simplified insurance solutions. To align with technology integration, reinsurance specialist BMS has paved way for its novel innovation lab to leverage better solutions aided by sophisticated tools and technologies, thus diversify their footprint in reinsurance gamut.

Broker Segment likely to Witness Demand Upsurge

Thorough research postulates gleaned in the report allow readers to decipher crucial market highlights. Based on which market players can deliver well-informed business decisions. The report is broadly segregated into systematic chapters, commencing with market overview. This chapter elucidates pertinent information on market definition and dynamics such as drivers, challenges, trends, and threats that impact growth in reinsurance market. Additionally, the report also assesses macro and microeconomic factors that remain indispensable for the growth trajectory. Further in the course if the report readers are presented with dynamic segmentation based on which reinsurance market is categorized by distribution channel and end-user. Based on channel, reinsurance market is diversified into direct writing and broker. Life and health insurance companies, and non-life insurance such as property and casualty reinsurance companies are chief end-users.

The report also entails a section on regional segregation based on which reinsurance market space is demarcated into Europe, North America, South America, Asia-Pacific, and Middle East and Africa. This section allows readers to gauge various marketing strategies implemented by leading vendors across regions and their reciprocal impact on consumer response.

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Competition Deep-Dive: Reinsurance Market

The trailing sections of the report includes substantial information on key players operating in reinsurance market. The report sheds light on their company overview, product innovations, recent developments such as acquisitions, mergers, besides including details on market performance. Some of the key players profiled in the report include, Berkshire Hathaway Inc., BMS Group Ltd., China Reinsurance (Group) Corporation, Everest Re Group, Ltd., and Hannover Re