Reinsurance demand has increased over the past 18 months and the trend is expected to continue for the rest of 2016, according to a new Aon report.
The reinsurance market outlook report revealed that Aon expects demand for cyber insurance coverage and product to continue.
It showed that nearly 90 percent of the market is based in the US, with annual growth running at 30 to 50 percent.
According to report, international growth will be driven by upcoming EU regulations covering data protection, which will become effective in 2018.
The report also highlighted demand for property catastrophe protection, with Aon expecting demand to remain relatively stable for January 2017 renewals.
It found that while certain regions affected by regulatory changes may look to secure additional capacity, overall demand change is expected to increase by approximately 5 percent across the market.
