Life and Health Reinsurance Market Report 2025

The life and health reinsurance market size has grown strongly in recent years. It will grow from $170.39 billion in 2024 to $180.59 billion in 2025 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, government-led insurance reforms, rising healthcare costs and an increase in natural disasters.

The life and health reinsurance market size is expected to see strong growth in the next few years. It will grow to $223.17 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to an increase in chronic diseases and disabilities, impact of COVID-19, growing middle-class population in emerging markets and a rise in claims in the life insurance sector. Major trends in the forecast period include adoption of automated reinsurance platforms, increasing applications of artificial intelligence, use of blockchain technology and increasing number of mergers and acquisitions.

The increasing demand for life and health insurance policies is anticipated to drive growth in the life and health reinsurance industry throughout the forecast period. The COVID-19 pandemic has heightened the significance and demand for life insurance among the public. The uncertainty surrounding COVID-19 diagnoses and the high costs of treatment in private hospitals are key factors contributing to the surge in demand for these insurance policies. For example, in July 2023, the Swiss Re Institute, a prominent provider of reinsurance and risk transfer solutions based in Switzerland, reported that global insurance premium volumes grew by 1.1% in 2023 and are projected to increase by 1.7% in 2024 in real terms. Consequently, the rising demand for life and health insurance policies is expected to positively influence the growth of the life and health reinsurance market.

The growth of the life and health reinsurance market is expected to be propelled by the increasing demand for telehealth services. Telehealth involves the use of telecommunications and digital technologies to provide remote healthcare services, offering advantages such as preventive care, cost-effective healthcare solutions, improved data analysis, and expanded coverage. In April 2023, FAIR Health Inc., a US-based non-profit organization, reported a 7.3% increase in national telehealth use, reflecting the growing preference for remote healthcare services. The rising demand for telehealth is thus identified as a key driver for the growth of the life and health reinsurance market.

An emerging trend in the life and health reinsurance market is the increasing demand for artificial intelligence (AI). Swiss Re, in collaboration with Tencent’s WeBank, is actively exploring the use of AI in reinsurance, particularly in addressing challenges related to data silos. This partnership aims to establish a foundation for a new business model supported by federated learning and encourages the reinsurance industry to adopt an improved technological framework. The incorporation of artificial intelligence is expected to enhance the technological capabilities of life and health reinsurance.

Leading companies in the life and health reinsurance market are focusing on innovative products, such as wysa assure, to drive revenues. wysa assure is an AI-based mental health support app that leverages artificial intelligence technologies to meet the needs of insurers and customers. Swiss Re Reinsurance Solutions Ltd., a Switzerland-based company, launched wysa assure in August 2023, combining Wysa's AI-powered mental health solutions with Swiss Re's risk knowledge and proprietary scoring methodology. This app, recognized as the first mental health app for insurance, calculates an individual's risk score.

In April 2023, Swiss Re Reinsurance Solutions Ltd entered into a partnership with Benekiva, a US-based claims and servicing platform. This collaboration aims to enhance operational efficiency for life and health insurers through an innovative end-to-end claims management platform, ultimately improving the overall claims experience for beneficiaries. The strategic priority of the Reinsurance Solutions division includes ongoing collaborations with key partners to drive advancements in life and health reinsurance services.

Major companies operating in the life and health reinsurance market include Swiss Re Ltd., Munich Reinsurance Company, SCOR S.E., China Reinsurance (Group) Corporation, Berkshire Hathaway Inc., PartnerRe Ltd., Taiping Reinsurance Co. Ltd., Korean Reinsurance Company, General Insurance Corporation of India (GIC Re), China Property and Casualty Reinsurance Company Ltd., Allianz (China) Insurance Holding Co., Ltd., PICC Reinsurance Co. Ltd., Peak Reinsurance Co. Ltd., Tokio Marine & Nichido Fire Insurance Co. Ltd., Aioi Nissay Dowa Insurance Co. Ltd., Sompo Japan Nipponkoa Insurance Inc., Toa Reinsurance Co., Mitsui Sumitomo Insurance Co. Ltd., PVI Reinsurance Company (Vietnam), Singapore Reinsurance Corporation Ltd., AXA France Vie, Lloyd's of London Limited, Sogaz Insurance Group, Ingosstrakh Insurance Co., Russian Re Co. Ltd., Polskie Towarzystwo Reasekuracji S.A., NN Life, VIG RE zajist’ovna a.s., National Indemnity Company, Everest Reinsurance Company, XL Reinsurance America, Fairfax Financial Holdings Ltd., Transatlantic Holdings Inc., Markel Corporation, Instituto de Resseguros do Brasil (IRB), Austral Re, Terra Brasis, Banco BTG, Trust Re, IGI, ARIG, Saudi Re, Hannover ReTakaful, Kuwait Re, Arab Re, Compagnie Centrale de Réassurance, Société Centrale de Réassurance, RGA Re, African Reinsurance Corporation, General Reinsurance Africa, SCOR Africa.

North America was the largest region in the life and health reinsurance market in 2024. Western Europe was the second largest market in the life and health reinsurance market share. The regions covered in the life and health reinsurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the life and health reinsurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Life reinsurance is an insurance practice where an insurance company purchases its own insurance contract to safeguard itself against significant losses associated with a large group of its current life insurance clients' policies. In the context of health insurance, reinsurance programs involve payments made to health insurers to assist them in mitigating the costs incurred due to enrollees with substantial medical claims.

The primary types of life and health reinsurance are facultative reinsurance and treaty reinsurance. Facultative reinsurance pertains to coverage acquired by the insurer primarily to address a single risk. The various products covered under this type include life and health insurance. The distribution channels involved in providing these reinsurances are direct response, agents & brokers, and banks.

The life and health reinsurance market research report is one of a series of new reports that provides life and health reinsurance statistics, including global life and health reinsurance market size, regional shares, competitors with life and health reinsurance shares, detailed life and health reinsurance segments, life and health reinsurance market trends and opportunities, and any further data you may need to thrive in the life and health reinsurance industry. This life and health reinsurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The life & health reinsurance market consists of sales of life & health reinsurance products by entities that are engaged in assuming all or part of the risk with existing life and health insurance policies originally underwritten by other insurance providers (direct insurance carriers). The size of the market is based on the value of the premiums reinsured. 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.

This product will be delivered within 3-5 business days.