Reinsurance market to hit $539.3b by 2029

Non-life should see revenue growth, driven by demand for property, motor.

The reinsurance market is projected to record a compound annual growth rate (CAGR) of 12.2% from 2025 to 2029, registering $539.3b in value, according to Technavio.

Rising demand for various insurance plans and macroeconomic factors are driving growth, whilst cybercrime threats pose challenges.

Emerging markets, particularly in Asia-Pacific and Africa, present growth opportunities due to low insurance penetration.

Non-life reinsurance is expected to see revenue growth, driven by demand for property, motor, and specialty insurance. 

In China, industrial expansion has fueled demand for property and specialty policies, including energy, marine, and aviation.  

Digital transformation is also reshaping the industry, with cloud storage and online platforms improving data management. 

However, cybersecurity risks, such as hacking and data breaches, remain concerns. Regulatory oversight is crucial to addressing risks related to insolvency, unauthorised reinsurers, and financial stability.  

Competition amongst reinsurers continues to intensify, influenced by macroeconomic conditions, tax policies, and demographic shifts.