Reinsurance is the form of insurance meant to mitigate the risk of insurance companies. Insurance companies purchase it to insure themselves from the risk of a significant incident of a client. In brief, it protects insurance companies from getting bankrupt when exposed to catastrophic events.  It is a vast and complex industry. It is considered as a part of the responsibility of insurance companies to control the portfolio of risk.

The global market research company  analyzed that the global reinsurer capital was valued as USD488 Bn in Dec 2018.  An analysis by the best market research company in India reveals that the global reinsurance market is anticipated to attain the market size of USD318900 Mn by 2025, growing at a CAGR of  3.3% during the forecasted years 2019 to 2025. 

Market survey shows that the primary functions of reinsurance include risk transfer, income smoothing, surplus relief, and arbitrage.

The data research companies in India reveals that the top players of the reinsurance industry comprise of Munich Re, Swiss Re, Hannover Re, SCOR SE, Korean Re, PartnerRe, GICRe, XL Catlin, Maiden Re, Fairfax, AXIS, and others.

Various types of reinsurance comprise of Property & Casualty Reinsurance and Life Reinsurance. An estimate by a market research company reveals that the total revenue of the reinsurance market was £19 Bn in 2018 in the UK.

Data collection by the data collection companies in India reveals that the global reinsurance market comprises of 1/10th of the global insurance industry.