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.
In 2018, the global Marine Reinsurance market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Marine Reinsurance status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Marine Reinsurance development in United States, Europe and China.
The key players covered in this study
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
Market segment by Type, the product can be split into
Proportional Reinsurance
Non-proportional Reinsurance
Market segment by Application, split into
Cargo
Hull and Machinery
Offshore Energy
Inland Marine
Marine War
Others
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
The study objectives of this report are:
To analyze global Marine Reinsurance status, future forecast, growth opportunity, key market and key players.
To present the Marine Reinsurance development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Marine Reinsurance are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Summary:
Get latest Market Research Reports on Marine Reinsurance . Industry analysis & Market Report on Marine Reinsurance is a syndicated market report, published as Global Marine Reinsurance Market Size, Status and Forecast 2019-2025. It is complete Research Study and Industry Analysis of Marine Reinsurance market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.