Global Life Reinsurance Market is projected to grow significantly by 2033

From GlobeNewswire: 2024-07-01 03:30:00

Researchers at Custom Market Insights have released a report on the global Life Reinsurance Market, forecasting a growth from $230.9 billion in 2023 to $735.6 billion by 2033, with a CAGR of 12.7%. Life reinsurance allows insurers to manage risk exposure by transferring financial risks related to life insurance policies to reinsurers.

Treaty reinsurance dominated the market in 2023 and is expected to continue its dominance through 2033, due to specialized solutions tailored to primary insurers’ risk profiles. Mortality solutions are utilizing AI and analytics to estimate risks accurately and customize plans, driving their market share growth from 2023 to 2033.

In the Asia-Pacific region, the market was dominated by life insurance policies in 2023, with a focus on financial security. Regulatory changes in the region are encouraging insurers to assign risks to reinsurers to meet capital reserve requirements. Technological advancements, like digitization and data analytics, are reshaping the industry.

Berkshire Hathaway Life, a risk management firm, offers insurance and reinsurance for pension and healthcare industries. The company covers property and casualty risks, as well as life and health risks. The report provides detailed insights on market size, growth rates, and key segments by type, offering, and region, covering North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.



Read more at GlobeNewswire: [Latest] Global Life Reinsurance Market Size/Share Worth