Agriculture Reinsurance Market: By Product Coverage (Multi-peril Crop Insurance, Crop-hail Insurance, Livestock Insurance, Greenhouse Insurance, and Others), By Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Others), and Geography.

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Agriculture Reinsurance Market size was valued at USD 15,443.8 million in 2022 and is expected to grow at a CAGR of 13.3% from 2023 to 2029. Agriculture Insurance is the production and financial risks of farmer associated with the shortfall risks of stakeholders such as input suppliers and grain processors. The term ceding can be defined as the insurance of insurance. In reinsurance the insurer bares risk and premium. Governments engagement in subsidized reinsurance and wide participation of private reinsurance industry are the key growing factors of agriculture reinsurance market. The government’s support for agriculture, technology advancement, and technology revolution are the key growth factors of the agriculture reinsurance market. The loss occurring in the Agro industry can be predicted by using satellite images in real time.In addition, the technology also contributes to mitigating the information between the insured and reinsurer, this is expected to boost the growth of the agriculture reinsurance market. The increasing need for having an alternative capital in order to level up the massive demand drives market growth in some countries. Government support also fuels the market growth. For instance, the Indian government has committed itself in funding the reinsurance scheme due to profitable social and economic benefits strong crop insurance market. Asia Pacific region is the prominent region to show significant growth in the market due to its natural diversification owing to large number of Agro-climatic zones. Hence, geographically Asia Pacific region is expected to hold the major market share and is expected to dominate the global agriculture reinsurance market in the forecasted years.

Agriculture Reinsurance Market Key Developments:

  • In August 2019, Indian Government-owned Agriculture Insurance Company (AIC) plans to launch crop reinsurance services abroad, particularly in other South Asian countries like Nepal, Sri Lanka, and Bangladesh and the Philippines.
  • In September 2021, Global reinsurer MS Amlin AG (MS AAG) has entered the agriculture reinsurance market.
    In March 2023, Ceres Imaging releases AI data analytics suite for Agriculture reinsurer.

Agriculture Reinsurance Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

13.3%

Largest Market

Asia Pacific

Fastest Growing Market

North America
Agriculture Reinsurance Market Dynamics

Agriculture reinsurance market is growing due to the increasing risks of losing crop in agriculture due to natural disasters, insufficient water supply, climatic factors and other factors. In addition, the Governments engagement in subsidized reinsurance and wide participation of private reinsurance industry is expected to boost the growth of agriculture reinsurance market. The technology advancement, rising investments on research and development by the key players also play an important role in the growth of market. Regions like Asia pacific is expected to have an significant growth in the forecasted period due to its natural diversification owing to increased number of Agro-climatic zones. Hence, this will drive the global market growth at a significant rate.

Agriculture Reinsurance Market Segmentation

By Product
  • Multi-peril Crop Insurance
  • Crop-hail Insurance
  • Livestock Insurance
  • Greenhouse Insurance
  • Others
By Distribution Channel
  • Banks
  • Insurance Companies
  • Brokers/Agents
  • Others
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA
LOCATION

Geography

Frequently Asked Questions

The Agriculture Reinsurance market size was valued at USD 15,443.8 million in 2022.

Asia Pacific region is expected to have an significant growth in the forecasted years followed by Latin America and Africa.

The leading players in the global Agriculture Reinsurance market are Swiss Reinsurance Company Ltd., Sompo International Holdings Ltd., Axa XL, Syngenta, Munich Re, Agroinsurance, Hanover Re, Partner Re, Scor Re, Gramcover, Mapfre Re, Berkshire Hathaway, Everest Re, China Reinsurance, QBE, Tokio Marine

Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation and Seven years forecast presented from 2023– 2029.

Key Features of the Reports

  • The agriculture reinsurance market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
1.Executive Summary
2.Global Agriculture Reinsurance Market Introduction 
2.1.Global Agriculture Reinsurance Market  - Taxonomy
2.2.Global Agriculture Reinsurance Market  - Definitions
2.2.1.Product
2.2.2.Distribution Channel
2.2.3.Region
3.Global Agriculture Reinsurance Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Agriculture Reinsurance Market Analysis, 2018 - 2022 and Forecast 2023 - 2029
4.1.  Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Agriculture Reinsurance Market  By Product, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
5.1. Multi-peril Crop Insurance
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Crop-hail Insurance
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Livestock Insurance
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Greenhouse Insurance
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Others
5.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6.Global Agriculture Reinsurance Market  By Distribution Channel, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
6.1. Banks
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Insurance Companies
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Brokers/Agents
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Others
6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7.Global Agriculture Reinsurance Market  By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Asia Pacific (APAC)
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Middle East and Africa (MEA)
7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Latin America
7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8.North America Agriculture Reinsurance Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
8.1. Product Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.1.1.Multi-peril Crop Insurance
8.1.2.Crop-hail Insurance
8.1.3.Livestock Insurance
8.1.4.Greenhouse Insurance
8.1.5.Others
8.2.  Distribution Channel Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.2.1.Banks
8.2.2.Insurance Companies
8.2.3.Brokers/Agents
8.2.4.Others
8.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.3.1.United States of America (USA)
8.3.2.Canada
9.Europe Agriculture Reinsurance Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
9.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Multi-peril Crop Insurance
9.1.2.Crop-hail Insurance
9.1.3.Livestock Insurance
9.1.4.Greenhouse Insurance
9.1.5.Others
9.2.  Distribution Channel Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Banks
9.2.2.Insurance Companies
9.2.3.Brokers/Agents
9.2.4.Others
9.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Germany
9.3.2.France
9.3.3.Italy
9.3.4.United Kingdom (UK)
9.3.5.Spain
9.3.6.Rest of EU
10.Asia Pacific (APAC) Agriculture Reinsurance Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
10.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Multi-peril Crop Insurance
10.1.2.Crop-hail Insurance
10.1.3.Livestock Insurance
10.1.4.Greenhouse Insurance
10.1.5.Others
10.2.  Distribution Channel Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Banks
10.2.2.Insurance Companies
10.2.3.Brokers/Agents
10.2.4.Others
10.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.China
10.3.2.India
10.3.3.Australia and New Zealand (ANZ)
10.3.4.Japan
10.3.5.Rest of APAC
11.Middle East and Africa (MEA) Agriculture Reinsurance Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
11.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Multi-peril Crop Insurance
11.1.2.Crop-hail Insurance
11.1.3.Livestock Insurance
11.1.4.Greenhouse Insurance
11.1.5.Others
11.2.  Distribution Channel Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Banks
11.2.2.Insurance Companies
11.2.3.Brokers/Agents
11.2.4.Others
11.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.GCC Countries
11.3.2.South Africa
11.3.3.Rest of MEA
12.Latin America Agriculture Reinsurance Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
12.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Multi-peril Crop Insurance
12.1.2.Crop-hail Insurance
12.1.3.Livestock Insurance
12.1.4.Greenhouse Insurance
12.1.5.Others
12.2.  Distribution Channel Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Banks
12.2.2.Insurance Companies
12.2.3.Brokers/Agents
12.2.4.Others
12.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Brazil
12.3.2.Mexico
12.3.3.Rest of LA
13. Competition Landscape
13.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
13.2.1.Swiss Reinsurance Company Ltd
13.2.2.Sompo International Holdings Ltd
13.2.3.Axa XL
13.2.4.Syngenta
13.2.5.Munich Re
13.2.6.Agroinsurance
13.2.7.Hanover Re
13.2.8.Partner Re
13.2.9.Scor Re
13.2.10.Gramcover
13.2.11.Mapfre Re
13.2.12.Berkshire Hathaway
13.2.13.Everest Re
13.2.14.China Reinsurance
13.2.15.QBE
13.2.16.Tokio Marine
14. Research Methodology 
15. Appendix and Abbreviations 
  • Swiss Reinsurance Company Ltd
  • Sompo International Holdings Ltd
  • Axa XL
  • Syngenta
  • Munich Re
  • Agroinsurance
  • Hanover Re
  • Partner Re
  • Scor Re
  • Gramcover
  • Mapfre Re
  • Berkshire Hathaway
  • Everest Re
  • China Reinsurance
  • QBE
  • Tokio Marine

Adjacent Markets