Agriculture Reinsurance Market to reach USD 26.5 billion by 2025.
Agriculture Reinsurance Market valued approximately USD 9.6 billion in 2016 is anticipated to grow with a healthy growth rate of more than 11.94% over the forecast period 2018-2025. The major driver of Global Agriculture reinsurance market is increasing awareness among farmers in developing countries for crop insurance and increasing government support in the form of subsidies. The major restraining factor of global agriculture reinsurance market are increasing natural calamities destroying farmlands and consequently hampering the agriculture output, as well as the income of farmers across the world, has resulted negative impact in the agriculture reinsurance market. Perpetual demand for food from the ever-rising population of the world has put a lot of pressure on increasing agriculture yields is a major challenge for agriculture reinsurance market. Agriculture reinsurance covers the production and financial risks of farmers and related shortfall risks of interconnected stakeholders, such as input suppliers or grain processors. Our global team of dedicated agriculture underwriters supports clients with tailored reinsurance risk solutions. Agriculture reinsurance includes crop insurance as well as it covers aquaculture, livestock, bloodstock, forestry, and greenhouse. The benefits which included by agriculture reinsurance market are reduces volatility of underwriting results, cross fertilization among markets, provides capital relief & flexible financing and so on.
The regional analysis of Agriculture Reinsurance Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share as government and agencies are trying to reduce the agricultural risk in well-specified manner. Asia Pacific and Europe were the other two main farm insurance marketplaces across the globe which anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025. Agriculture is one of the main contributors to GDP of several economies across the world including India, China, and the U.S. These countries, whose main source of economy is agriculture, are facing risks in production due to which agriculture insurance has merged as a risk management equipment for farmers, agricultural producers and other stakeholders.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Crop yield reinsurance
- Crop price reinsurance
- Crop revenue reinsurance
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Munich Re, Swiss Re, Hanover Re, Partner Re, Scor Re, Mapfre Re, Lloyd’s, Berkshire, Hathaway, Everest Re, Korean Reinsurance, China Reinsurance, Transatlantic, XL Group, QBE, Tokio Marine and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Agriculture Reinsurance Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers