Reinsurance Carriers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/18/2024
SIC Codes: 6311
NAICS Codes: 524130
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

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 Everest Re, Reinsurance Group of America, and TransRe (all based in the US), as well as Munich Re (Germany), SCOR (France), and Swiss Re (Switzerland).

The global reinsurance industry is forecast to reach about $900 billion in 2027, at a compound annual growth rate (CAGR) of 9.1%, according to the Business Research Company. Demand for insurance, and therefore reinsurance, has increased in the last few years, driving global expansion of the insurance business.

The US reinsurance carriers industry includes about 400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $70 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 50 largest firms account for nearly 100% 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 competition from financial service providers ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Reinsurance Carriers that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options