Global reinsurance sector to reach $17 trillion by 2035
According to international consulting firm PwC, the global reinsurance sector will occupy a central place in the new financial system over the next decade.
According to PwC, the role of the reinsurance sector “will go beyond providing capital to include organizing resilience, ensuring long-term investments and promoting systemic stability.”
According to the online resource UkrStrakhuvach, citing the PwC report “Reinsurance 2035: Rethinking the Risk Business,” by 2035 the global reinsurance sector will be estimated at $17 trillion. This forecast figure may change depending on climatic and technological factors.
In the report, PwC notes an increase in the total volume of reinsurance income in 2024 by 8.6% to $8.2 trillion, which is the fastest growth in the indicator. Reinsurers also achieved high combined ratios and return on equity.
Cyber threats, natural disasters, shortage of qualified personnel and knowledge in the field of Artificial Intelligence remain risk factors for reinsurers.