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Report ID: SQMIG40Q2001
Report ID:
SQMIG40Q2001 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
59 |
Figures:
75
North America is a mature reinsurance market, with the United States being the largest market by far. North America accounted for 34% of global reinsurance premiums. The market is dominated by a small group of large reinsurers, including Swiss Re, Munich Re, and Berkshire Hathaway. The North American market is also heavily influenced by catastrophic events, such as hurricanes, wildfires, and earthquakes. These events have become more frequent and severe in recent years, leading to increased demand for reinsurance.
In contrast, Asia-Pacific is a rapidly growing and emerging market, accounting for 17% of global reinsurance premiums. The region is seeing significant economic growth, technological advancement, and increasing insurance penetration, which is driving demand for reinsurance. The market is diverse, with several countries having significantly different levels of insurance penetration and regulatory environments. China is the largest market in the region, followed by Japan, South Korea, and Australia. The region is also seeing increasing competition among reinsurers, with international players trying to establish a foothold and domestic players expanding their capabilities.
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Report ID: SQMIG40Q2001