Non-life reinsurance market value is forecast to increase at an annualized rate of 5.5 percent from 2018 to 2020, and at a higher rate from 2020 to 2022. According to the “Global Non-Life Reinsurance Market Outlook” report, forecast to 2022, growth will be driven by continued improvement in loss experience and elevated levels of reinsurance capacity, while global capacity remains robust.
Recognized for their exceptional underwriting capabilities, reinsurers operate on a global basis, with single country market share that is less than 5 percent, says Tom McKenna, founder and chairman of Simon Association. The report focuses on the leading reinsurers of the market and on emerging reinsurers.
“Within the global reinsurance market, there are four primary markets: residential, commercial, fire, and marine,” says Rob Huff, global marketing director, advisory, reinsurance at Simon Association. “The majority of the non-life reinsurance market (58 percent) is from the residential property line. This will remain the core market of the non-life reinsurance market over the next four years.”
“Our market analysis combines historic performance with an unbiased, forward-looking assessment of key issues and developments in the global non-life reinsurance market, which is filled with many opportunities,” says Casey Shelborne, senior vice president, analytics, Simon Association. “Markets typically have a five-year to 10-year life. The information gathered has allowed us to build up a fuller picture of the current market, and the impact it will have in the future.”
This report provides key market trends and critical information relevant to the operations of the global non-life reinsurance market. In addition, the report also presents current market share distributions and valuation methods of the global non-life reinsurance market.
Research Analysts regularly analyse critical data on global property and casualty insurance markets. Today, customers rely on A.M. Best for the unbiased, dispassionate analysis that underscores best practice and generates sustainable value for clients and consultants. A.M. Best’s analysts are deeply embedded in the market and have traditionally reported directly to management to understand and anticipate how future events could affect insurance risk performance and financial results.
Andrea Miteski, PhD and MD in the field of reinsurance. Long term senior insurance executive with specialization of reinsurance optimization.