While for most industries, their impact on society is part of the public discourse, there is limited awareness of the economic and societal value the reinsurance industry provides. Global reinsurers have been and continue to be a notably robust and resilient industry to the benefit of the primary insurance market and ultimately society. All reinsurance companies need to ensure the quality of their risk management, the reliability of their financial strength and the diversification of their portfolio are strong enough to fulfil the role of providing support following catastrophes and other peak risks and major events worldwide. The reinsurance industry is constantly assessing the needs of the market and is developing innovative solutions to improve our coverage of risks. Besides absorbing a significant portion of the world’s insurable risks and fostering product innovation, global reinsurers also facilitate loss mitigation techniques and share their risk knowledge, given their long-lasting record of risk experiences and risk modelling.


Understanding the economic and societal value of reinsurance