Base Year: 2018
Estimated Year: 2019
Forecast Period: 2019 to 2026
The global Agriculture Insurance and Reinsurance market is valued at approximately USD xxxx million in 2019 and is expected to generate revenue of around USD xxxx million by 2026, growing at a CAGR of roughly xxxx% from 2019 and 2026.
Reinsurance is insurance that is purchased by an insurance company. In the classic case, reinsurance allows insurance companies to remain solvent after major claims events, such as major disasters like hurricanes and wildfires. Agriculture is a growth area. As a growing global population and changing diets fuel demand for higher crop output, we protect the capital needed to increase production. Agriculture reinsurance covers the production and financial risks of farmers and related shortfall risks of interconnected stakeholders.
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Key Players:
Key players in the Agriculture Insurance and Reinsurance market include Swiss Re, Endurance Specialty Holdings, Munich Re, Allianz Re, XL Catlin, Agroinsurance, AXIS Capital, Agriculture Insurance Company of India Limited (AIC), Aon, Arch Capital Group, etc.
Market Driver and Restraint
Based on the report, the incentives and supports given by governments are likely to buckle up the global Agriculture Insurance and Reinsurance during the forecast period. Apart from this, the rising natural disasters may destroy the farmlands and further impede the agriculture productivity, which provokes the awareness among farmers to advantages of agriculture reinsurance, therefore pushing the industry expanding.
Whereas, the report predicted the market expansion may be hampered by risks like the volatility in the prices of the insurance, as well as the ambiguity about the output by producers then incurring certain production risks.
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Forecast by Geography
The Agriculture Insurance and Reinsurance market covers worldwide areas including important regions of North America, Europe, Asia-Pacific. Western countries have been the largest end-user of Agriculture insurance, in particular in the United States and Europe, where both prevail a mature market of agriculture insurance and due to the great support by government bodies.
One thing needs to point out is the emerging economies pose a lucrative opportunity for growth in the coming years, take an example, the Asia Pacific was the second largest market for crop insurance, the regional market holds the highest potential for proliferation of insurance since it is more prone to natural calamities such as earthquake, floods, cyclones, etc.
Type Outlook
• Crop Yield
• Crop Price
• Crop Revenue
Application Outlook
• Direct Insurance Company
• Original insurer
• Others
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Target Audience:
• Global Agriculture Insurance service company
• Banking, Financial service supplier
• Professor, investor, academic organization
• Insurance industry associations
• Consultancy managers, Insurance industry administrator, C-level executives of the industries
• Market Research and consulting firms
• Small and medium-sized corporation
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