Industry Analysis & Industry Trends
The Global Reinsurance Carriers industry provides support to direct insurance markets all over the world. Resinsurers assume part or all of the liability for one or more insurance policy and compensate insurers within contracted parameters for predescribed losses incurred under that insurance policy. This transfers part or all of the risk to reinsurers, helping insurers to increase their capacity and limit their liability. In a process known as retrocession, reinsurers use other reinsurers to manage their own risk. The global reinsurance market then spreads this risk across more companies and countries, thereby maximizing the spread of risk and protection against unforeseen losses... read more
Industry SWOT Analysis
The Global Reinsurance Carriers industry is in a mature stage of its economic life cycle. Insurance companies are directing more business to the better-capitalized, higher-rated reinsurers, which is leading to consolidation in the reinsurance industry. In competing with a smaller number of global reinsurers, many reinsurance carriers are finding a large number of global customers asking them to provide a broader range of coverage. In response, reinsurance carriers are expanding the risks they reinsure beyond more traditional business, including risks such as errors and omissions and directors' and officers' exposures.
Reinsurance products are nearing a high level of acceptance in the market... read more