Catastrophe Insurance Market, Global Outlook and Forecast 2023-2032
Catastrophe insurance is a kind of insurance that protects both commercial and residential sectors against natural disasters like floods and hurricanes, earthquakes, and man-made adversities such as terrorist attacks. Besides human fatalities, natural catastrophes also cause significant financial losses. This type of insurance is generally excluded from standard hazard insurance policies owing to its low-probability. Insurers adapt to uncertain catastrophic risks by increasing their insurance rates, which in turn leads to lower loss ratios post-catastrophic events. Catastrophic losses due to natural disasters are very problematic and complicated from an insurance standpoint. The firms with low levels of homeowners? premiums are most adversely affected by the catastrophes.
This report aims to provide a comprehensive presentation of the global market for Catastrophe Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Catastrophe Insurance. This report contains market size and forecasts of Catastrophe Insurance in global, including the following market information:
Global Catastrophe Insurance Market Revenue, 2018-2023, 2024-2032, ($ millions)
Global top five companies in 2022 (%)
The global Catastrophe Insurance market was valued at US$ 2033.4 million in 2022 and is projected to reach US$ 2503.3 million by 2029, at a CAGR of 3.0% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
This industry research report identifies the pricing and valuation strategies of catastrophe bonds to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Since the insurance industry is cyclical, insurance providers have the need to formulate different strategies that bring in stable earnings to earn positive yields and generate cash flows.?Catastrophe bonds?help investors to earn good returns that are uncorrelated with the broader financial markets and also helps portfolio managers understand the attributes of pricing trends, and in turn, make informed decisions in allocating capital.?Cat bonds?or catastrophic bonds can transfer insurance risk to the capital markets, and have evolved into valuable risk management and investment tools and also provide an alternative means to capitalize reinsurance transactions.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Catastrophe Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Catastrophe Insurance Market, by Type, 2018-2023, 2024-2032 ($ millions)
Global Catastrophe Insurance Market Segment Percentages, by Type, 2022 (%)
Flood Insurance
Storm Insurance for Hurricanes and Tornadoes
Earthquake Insurance
Volcano Insurance
Global Catastrophe Insurance Market, by Application, 2018-2023, 2024-2032 ($ millions)
Global Catastrophe Insurance Market Segment Percentages, by Application, 2022 (%)
Businesses
Residences
Global Catastrophe Insurance Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions)
Global Catastrophe Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Catastrophe Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Catastrophe Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
AIG
Allianz
AXA
Berkshire Hathaway
Lloyds
Allstate
Aviva
Liberty Mutual
Zurich Insurance Group
Outline of Major Chapters:
Chapter 1: Introduces the definition of Catastrophe Insurance, market overview.
Chapter 2: Global Catastrophe Insurance market size in revenue.
Chapter 3: Detailed analysis of Catastrophe Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Catastrophe Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
