Insurance, Reinsurance and Insurance Brokerage Market Report 2026

The insurance, reinsurance and insurance brokerage market size has grown strongly in recent years. It will grow from $9.51 trillion in 2025 to $10.16 trillion in 2026 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growth in global insurance penetration, expansion of reinsurance markets, rising frequency of catastrophic risk pooling, increased role of intermediaries, growing demand for diversified insurance products.

The insurance, reinsurance and insurance brokerage market size is expected to see strong growth in the next few years. It will grow to $13.41 trillion in 2030 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing digital transformation across insurance value chains, rising adoption of parametric insurance models, expansion of cross-border reinsurance arrangements, growing use of advanced analytics in underwriting, increasing focus on operational resilience. Major trends in the forecast period include increasing adoption of digital insurance distribution channels, rising use of advanced risk modeling tools, growing integration of blockchain in reinsurance, expansion of online brokerage platforms, enhanced focus on customer-centric insurance solutions.

The rising demand for insurance policies is expected to drive the expansion of the insurance, reinsurance, and insurance brokerage markets in the coming years. Insurance policies are agreements between an individual or organization (the policyholder) and an insurance company. These policies assist in managing risks, maintaining financial stability, and supporting business continuity for insurance companies, reinsurers, and insurance brokerages. For example, in December 2024, according to the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, premiums written in 2023 grew by an average of 12.4% in nominal terms and 6.2% in real terms, which is double the real growth rate observed in 2022. Consequently, the rising demand for insurance policies is fueling the growth of the insurance, reinsurance, and insurance brokerage markets.

Major companies in the insurance, reinsurance, and insurance brokerage market are concentrating on creating innovative solutions, such as technology-driven reinsurance platforms, to address the growing demand for faster, more transparent, and data-supported risk transfer solutions in emerging markets. A technology-driven reinsurance platform combines digital tools, data analytics, and actuarial insights to simplify the placement of facultative and treaty reinsurance, enabling quicker decision-making and greater transparency compared to traditional paper-based, network-dependent processes. For example, in November 2025, Policybazaar, an India-based insurance and insurtech platform, expanded its reinsurance operations across Asia and the Middle East, launching a digital-first reinsurance model that integrates actuarial analytics, risk assessment, and distribution expertise to enhance underwriting efficiency. The platform serves insurers in property, marine, liability, cyber, and climate-linked risks, delivering benefits such as reduced friction, faster decision cycles, and improved transparency in regions historically underserved by legacy networks. This initiative establishes Policybazaar as a significant player in closing efficiency and capacity gaps in emerging insurance markets.

In August 2025, EDME Insurance Brokers & Risk Services Pvt. Ltd., an India-based insurance brokerage firm, acquired UIB Insurance Brokers Pvt. Ltd. for an undisclosed amount. Through this acquisition, EDME Insurance Brokers seeks to bolster its reinsurance business, improve its risk-management capabilities, and broaden its service offerings to corporate and institutional clients by utilizing UIB’s expertise and client relationships. UIB Insurance Brokers Pvt. Ltd. is an India-based insurance brokerage company specializing in reinsurance broking, risk advisory, and insurance placement services across various sectors.

Major companies operating in the insurance, reinsurance and insurance brokerage market are Allianz Group, Ping An Insurance, China Life Insurance Company Limited, AXA Group, Centene Corporation, Assicurazioni Generali S.p.A., Humana Inc, The People’s Insurance Company Group of China Limited, Berkshire Hathaway, Munich Re, General Insurance Corporation of India, Oriental Insurance Company, ICICI Lombard General Insurance Company, United India Insurance, HDFC ERGO, Fanhua Inc, Chang'an Insurance Brokers, CPIC, China Property and Casualty Reinsurance Company, PICC Reinsurance, Taiping Reinsurance, Peak Reinsurance, SCOR Reinsurance, Korean Reinsurance Company, Tokio Marine Nichido Fire Insurance, Aioi Nissay Dowa Insurance, Sompo Japan Insurance, Toa Reinsurance Company, Mitsui Sumitomo Insurance, PVI Reinsurance Company, Singapore Reinsurance Corporation, Marsh McLennan, Arthur J Gallagher, Willis Towers Watson, Lloyd's of London, Aon, Funk Gruppe, Ecclesia Holding, Hannover Re, Swiss Re, Crédit Agricole Assurances, CNP Assurances, Sogaz Insurance Group, Ingosstrakh Insurance, Russian Reinsurance Company, Polish Reinsurance Company, Nationale Nederlanden, Uniqa Insurance Group, Česká Pojišťovna, Brighthouse Financial, Northwestern Mutual, New York Life, Prudential Financial, Lincoln National, MassMutual, John Hancock, Transamerica, Manulife Financial, Chubb Life, Great West Lifeco, Sun Life Financial, IA Financial Group, RBC Insurance, Empire Life, National Indemnity Company, Everest Re, XL Reinsurance America, Reinsurance Group of America, Fairfax Financial Holdings, Transatlantic Holdings, Markel Corporation.

North America was the largest region in the insurance, reinsurance, and insurance brokerage market in 2025. Asia/Pacific was the second largest region in insurance, reinsurance, and insurance brokerage. The regions covered in the insurance, reinsurance and insurance brokerage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance, reinsurance and insurance brokerage market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The insurance, reinsurance and insurance brokerage market consist of sales of insurance products by entities that are engaged in providing insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage and reinsurance. The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal as well as the fees or commissions paid to brokers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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