Marine Reinsurance Market

Reinsurance, also known as insurance for insurers or stop-loss insurance, is the practice of insurers transferring portions of risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an insurance claim. The party that diversifies its insurance portfolio is known as the ceding party. The party that accepts a portion of the potential obligation in exchange for a share of the insurance premium is known as the reinsurer.

Reinsurance allows insurers to remain solvent by recovering some or all of amounts paid to claimants. Reinsurance reduces net liability on individual risks and catastrophe protection from large or multiple losses. It also provides ceding companies the capacity to increase their underwriting capabilities in terms of the number and size of risks.

By covering the insurer against accumulated individual commitments, reinsurance gives the insurer more security for its equity and solvency and more stable results when unusual and major events occur. Insurers may underwrite policies covering a larger quantity or volume of risks without excessively raising administrative costs to cover their solvency margins. In addition, reinsurance makes substantial liquid assets available for insurers in case of exceptional losses.

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability.

Marine Reinsurance Market aims to provide a comprehensive presentation of the global market for Marine Reinsurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Marine Reinsurance. Marine Reinsurance Market contains market size and forecasts of Marine Reinsurance in global, including the following market information:

Global Marine Reinsurance Market Revenue, 2018-2023, 2024-2029, ($ millions)

Global top five companies in 2022 (%)

The global Marine Reinsurance market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

The U.S. Market is Estimated at $ Million in 2022, While China is to reach $ Million.

Proportional Reinsurance Segment to Reach $ Million by 2029, with a % CAGR in next six years.

The global key manufacturers of Marine Reinsurance include Swiss Re, Munich Re, AXA XL, Hannover Re, Lloyd?s, Berkshire Hathaway, RGA, China RE and Korean Re, etc. in 2022, the global top five players have a share approximately % in terms of revenue.

We surveyed the Marine Reinsurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Marine Reinsurance Market, by Type, 2018-2023, 2024-2029 ($ millions)

Global Marine Reinsurance Market Segment Percentages, by Type, 2022 (%)

Proportional Reinsurance

Non-proportional Reinsurance

Global Marine Reinsurance Market, by Application, 2018-2023, 2024-2029 ($ millions)

Global Marine Reinsurance Market Segment Percentages, by Application, 2022 (%)

Cargo

Hull and Machinery

Offshore Energy

Inland Marine

Marine War

Others

Global Marine Reinsurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)

Global Marine Reinsurance Market Segment Percentages, By Region and Country, 2022 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Marine Reinsurance revenues in global market, 2018-2023 (estimated), ($ millions)

Key companies Marine Reinsurance revenues share in global market, 2022 (%)

Further, the report presents profiles of competitors in the market, key players include:

Swiss Re

Munich Re

AXA XL

Hannover Re

Lloyd?s

Berkshire Hathaway

RGA

China RE

Korean Re

PartnerRe

GIC Re

Mapfre

Alleghany

Everest Re

Maiden Re

Fairfax

AXIS

Mitsui Sumitomo

Sompo

Tokio Marine

Outline of Major Chapters:

Chapter 1: Introduces the definition of Marine Reinsurance, market overview.

Chapter 2: Global Marine Reinsurance market size in revenue.

Chapter 3: Detailed analysis of Marine Reinsurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Sales of Marine Reinsurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: The main points and conclusions of the report.