Insurance sector: must-read reports and statistics

 
  • Currently 3/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
17 votes
Share

Global Insurance Industry

 

The world insurance industry expanded by more than 4.5% in 2010 to reach close to $4.1 trillion, according to research from MarketLine. The market is forecast to reach over $5.1 trillion in 2015, representing a 26% increase in five years. Life insurance represents the leading market segment with almost 58% of the overall market in terms of value. The EU represents just over 35% of the overall global insurance market.

 

Developed markets dominate the global insurance industry, with the US, the UK, Germany, France and Japan holding the largest combined share, reports Global Industry Analysts. The internet is occupying an increasingly important place as businesses interface in the insurance market, helping insurance institutions attract customers and cutting down on marketing and administrative spending as sales agents become unnecessary.

 

Key Market Segments

 

  • The world health and life insurance market reached almost $2.9 trillion in 2010, reports MarketLine. The market grew at a yearly rate of close to 4.5% between 2006 and 2010, and is expected to grow at a yearly rate of more than 7% until 2015, hitting close to $4.1 trillion. Life insurance represented the leading market segment in 2010 at almost $2.56 trillion, or about 90% of the overall market.

 

  • The world motor insurance industry expanded by almost 3.5% in 2010 to reach over $525 billion, reports MarketLine. The market is expected to be worth $614 billion in 2015, a 17% increase in five years. Personal insurance represents almost 80% of the overall market, and the Americas account for close to 45% of the global market.

 

  • The world reinsurance industry was worth almost $166 billion in 2009, reports MarketLine. The market is expected to record yearly growth of almost 2.5% up until 2015. Property reinsurance represented the leading market segment in 2010, generating more than $66 billion, or almost 40% of the overall market in terms of value.

 

 

Regional Market Share

 

  • Insurance industry growth in developed regions like North America is relatively slow due to an unsteady long-term savings market and ground lost to high-earnings oriented financial services, according to research from Global Industry Analysts. Japan’s insurance market is stronger largely due to financial reforms. Insurance companies continue to roll out their business activity in emerging Asian markets like China. Growth is expected to be strongest in the private and public pension plans market segment due to an aging global population.

 

  • Asia Pacific is benefiting from rising interest rates, which are helping insurer investment returns, reports AM MindPower Solutions. However, inflation may become an obstacle to market growth.

 

  • Africa’s insurance market has witnessed growing demand through bancassurance, reports AM MindPower Solutions. Other distribution channels, such as through brokers and agents, have not lost ground either. South Africa’s life insurance industry has well established distribution channels, and is supported by strong expertise and technological innovation.

 

  • India’s insurance market is led by the health insurance segment, according to research from RNCOS. Strategies for market expansion being deployed by public and private insurers will help to expand the country’s insurance market. India’s health insurance segment is one of the world’s leading health insurance markets due to rising health awareness and healthcare costs. The segment is forecast to record yearly growth of almost 33% between 2010 and 2014. The government has set in place and sponsored health insurance schemes that are helping to fuel the market. Private and public health insurers are also offering a widening array of schemes from individual to family and covering prevalent conditions such as kidney failure, stroke and heart failure.

 

 

Market Outlook

 

The global insurance industry is likely to see its life insurance segment grow through innovation and improved processing methods, according to Global Industry Analysts. Consolidation will continue to benefit companies operating in the life insurance market by bolstering companies against competition from alternative long-term savings products.

 

Competition will increase as insurers seek to attract more customers through financial engineering, advanced investment and risk management practices. In addition, customers will demand greater flexibility and portability, seeking options allowing them to switch from one insurer to another without losing their no-claims benefit.

 

 

Leading Industry Associations

 

Instantly download all the latest insurance industry reports & statistics to accomplish a thorough analysis.
1-10 of about 15 000 reports

Global Insurance Industry

  • March 2015
    17 pages
  • Insurance  

    Insurance  

  • World  

View report >

Insurance Industry in the US

  • March 2015
    6 pages
  • Insurance  

    Property Insura  

  • United States  

View report >

Insurance Industry in Italy and Europe

  • March 2015
    26 pages
  • Insurance  

  • Italy  

    Europe  

    Japan  

View report >

Insurance Markets in Asia and China Forecast

  • January 2015
    12 pages
  • Insurance  

    Insurance  

  • Asia  

    China  

    World  

View report >

Insurance Industry in Japan and Europe

  • January 2015
    16 pages
  • Insurance  

  • Japan  

    Europe  

    Asia  

View report >

Insurance Statistics in France

  • October 2014
    8 pages
  • Insurance  

  • France  

    Europe  

View report >

The future of the Life Insurance Industry in Germany

  • February 2015
    12 pages
  • Life Insurance  

  • United States  

    Germany  

    Europe  

View report >

Insurance Statistics in Italy

  • January 2015
    8 pages
  • Insurance  

  • Italy  

    Europe  

View report >

Insurance Industry in the UK

  • March 2015
    12 pages
  • Insurance  

  • United Kingdom  

View report >

Health Insurance Industry in Canada

  • March 2015
    9 pages
  • Health Insuranc  

  • Canada  

    United States  

View report >


About 6 800 reports

Purchase Reports From Reputable Market Research Publishers
(From $ 55 - $ 6 991)

Warranty Metrics: Consumer Approaches to Extended Warranties for White, Brown and Grey Goods in Selected Global Markets

Warranty Metrics: Consumer Approaches to Extended Warranties for White, Brown and Grey Goods in Selected Global Markets

  • $ 7 998
  • Industry report
  • January 2015
  • by Finaccord

Warranty Metrics: Consumer Approaches to Extended Warranties for White, Brown and Grey Goods in Selected Global Markets offers unique, detailed insights into the behaviour of consumers in eight countries ...

Road Assistance In Major Global Markets

January 2015 $ 5 996

Insight Report: Insurers% Engagement With Social Media

March 2015 $ 3 800

The Mobile Phone Insurance Ecosystem: 2015 – 2020 Opp ...

February 2015 $ 3 500

Manufacturer-branded And Dealer-intermediated Motor Ins ...

February 2015 $ 3 994

Fraud Mitigation Market In Non-life Insurance Sector - ...

January 2015 $ 2 800

Income Protection And Critical Illness Insurance In The ...

March 2015 $ 2 795

Extended Warranty Insurance In The Uk – Key Trends An ...

February 2015 $ 2 795

Global Aerospace Insurance Market 2015-2019

March 2015 $ 2 500

Insurance Industry Payment Mode Opportunity Study – T ...

March 2015 $ 1 980

ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - quickly, in one place.