Non-life leads reinsurance market with 57% share as brokers hit 72%

The non-life segment is forecast to grow 7.6% annually through 2035.

The global reinsurance market is projected to double its size by 2035 to $1t, driven by stricter regulatory enforcement, a rise in catastrophic events, and the increasing complexity of risk portfolios.

According to Global Market Insights, the market value is currently at $472.3b.

Consequently, insurance companies are prioritising risk transfer and capital optimisation to maintain solvency and meet compliance standards.

The non-life segment held a 57% share of the market in 2025 and is projected to grow by 7.6% annually through 2035. 

This segment is vital for covering property, casualty, natural disasters, and liability risks. 

At the same time, the broker segment accounted for 72% of the market in 2025 and is expected to grow at an annual rate of 7.8%. 

Brokers remain the dominant distribution channel as they manage high-volume, cross-border risk transfers for large insurers and corporate clients.

Technological innovations such as AI and machine learning are being used for risk modelling, predictive analytics, and blockchain-enabled risk sharing. 

These tools are designed to improve claims accuracy and optimise capital allocation.