Reinsurance Carriers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/7/2017
SIC Codes: 6311
NAICS Codes: 524130
Chapters Include:
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Excerpt from Reinsurance Carriers Industry Profile

Companies in this industry provide insurance to other insurance companies to assume the risk on existing policies as a hedge against catastrophic loss. Major companies include Reinsurance Group of America (RGA), Everest Re, and TransRe (all based in the US), as well as Munich Re (Germany), Swiss Re (Switzerland), and SCOR (France).

The global reinsurance industry generates annual revenue of about $220 billion, according to ratings agency AM Best. Demand for insurance, and therefore reinsurance, is strong in emerging markets such as China, India, and Brazil, where growing middle class populations are better able to afford coverage for life, health, and property.

The US reinsurance carriers industry includes about 400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $56 billion.

COMPETITIVE LANDSCAPE

Demand is driven by the volume of insurance policies written and the size of insurance companies' risk portfolios. The profitability of individual companies depends on the ability to balance premium and investment income against claim payouts. Large companies have advantages in serving customers in diverse geographic areas and product categories. Smaller companies can compete effectively by providing coverage for specialized insurance markets. The US industry is highly concentrated: the top 20 companies account for about 85% of revenue.

Consolidation has intensified competitive pressure in the industry, as larger players are better able to offer broader and more diversified coverage. Reinsurance firms also ...

 
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