Reinsurance Market Discover Current and Upcoming Demand | Munich Re India Services,  RGA Life Reinsurance Company of Canada – India Branch

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The new study released on Reinsurance market provides valuable insights on market share, market size, and growth rate for the period 2016 – 2026. The study highlights deep analysis on the potential growth drivers of the market, restraints, and opportunities to help the business owners, suppliers, and marketing personnel in planning effective strategies during the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. Some of the key players profiled in the study are General Insurance Corporation of India (GIC),  Axa France Vie – India Reinsurance Branch,  General Reinsurance AG – India Branch,  Hannover Re – India Branch,  Lloyd’s India Etc.

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Summary
India is the fastest-growing reinsurance market in the world. The industry is expected to witness notable growth due to the recent regulatory changes imposed by the Insurance Regulatory and Development Authority of India (IRDAI), which encourages offshore companies to set up operations in the country. Further, low insurance penetration, frequent occurrence of severe catastrophes, recent regulatory reforms pertaining to crop insurance, and the entry of numerous foreign players are expected to propel industry growth during the forecast period.
The total premium generated from the reinsurance market was valued at ~INR 460.59 Bn in FY 2019 and is expected to reach ~INR 989.75 Bn by FY 2025, expanding at a CAGR of ~14.03 % during the FY 2020-FY 2025 period.

Segment insights:
The General Insurance Corporation (GIC) has a monopoly in the market with more than 80% stake in the Indian reinsurance business. Foreign players like AXA France Ve, Munich Re and Swiss Re have been underwriting risks for Indian insurers. They have also been gradually increasing their share in the industry since 2017.
Further, in terms of operations, non-life insurance business accounted for more than 95% of the total premium ceded in FY 2019. Fire and motor insurance businesses add the highest share of the premium to the Indian reinsurance industry.

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Market trends:
Adoption of new technologies, capital market structuring techniques, and bundling of value-added services are expected to drive the reinsurance industry in the coming years. The industry is witnessing a change in the service offerings to optimize operations and the overall business model. Further, innovative solutions such as InsurTech are expected to transform the industry value chain during the forecast period.

Impact of COVID-19:
Reinsurers and insurers have been severely affected by the economic repercussions in the wake of the pandemic.
New insurance businesses have been postponed, existing renewals have been delayed, and industry players are scouting for new products, channels, pricing discounts, and even new regulatory compliance requirements. The impact is most significant across the casualty, property, marine, liability, and contingency classes of business.
However, technology is expected to be the most noteworthy remedial measure to assess and manage the impact of the pandemic on the industry.

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Companies covered:
General Insurance Corporation of India (GIC),  Axa France Vie – India Reinsurance Branch,  General Reinsurance AG – India Branch,  Hannover Re – India Branch,  Lloyd’s India ,  Munich Re India Services Private Limited,  RGA Life Reinsurance Company of Canada – India Branch,  Scor Se – India Branch,  Swiss Re Services India Private Limited,  XL Insurance Company SE – India Reinsurance Branch

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure
3.2. India insurance industry operating model
3.3. India reinsurance market landscape

Chapter 4: Global reinsurance market overview
4.1. Global reinsurance mar

….Continued

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2797389-reinsurance-market

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