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United States Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 61 pages

Includes 3 FREE quarterly updates

BMI View: The outlook for the insurance industry in the US remains largely positive. Both the life and nonlifesector are expected to record steady premium growth over the forecast period between 2016 and 2020,though the maturity of the market and high levels of competition will keep premium growth in the low singledigits. Driving this growth is a generally positive economic outlook, with private consumption set to rise asoil prices fall, household income rates rise and employment rates improve, all of which will lead toincreased demand for a number of life and non-life products. Both the life and non-life markets are highlyfragmented, indicating scope remains for further consolidation via mergers and acquisitions.

Key Updates And Forecasts

- A number of high-profile mergers are underway in the US insurance industry. One major deal wascompleted in January 2016 when ACE completed the acquisition of Chubb. ACE reportedly paid aroundUSD29.5bn for Chubb (in cash and stock), and in future ACE will be operating under the Chubb nameglobally. Other mergers, such as that of Cigna with Anthem and Aetna with Humana, are still awaitingregulatory approval, including at the federal level.

- We are broadly maintaining our current forecasts for growth in the life sector, with premiums expected togrow by an annual average of 4.2% over the forecast period, increasing from USD530.7bn in 2016 toUSD625.5bn in 2020.

- Somewhat slower annual average growth of 3.5% will be seen in the larger non-life sector, wherepremiums are currently forecast to grow from USD799.3bn in 2016 to USD931.7bn in 2020 - one of thelargest non-life markets in the world.

Table Of Contents

United States Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (United States 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (United States 2013-2020) 11
Table: Life Insurance Claims (United States 2008-2013) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (United States 2013-2020) 16
Table: Non-Life Insurance Claims (United States 2009-2013) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums By Product Line (United States 2013-2020) 27
Insurance Risk/Reward Index 29
Developed States Insurance Risk/Reward Index 29
Table: Developed States Insurance Risk/Reward Index - Q216 30
Market Overview 31
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Life Insurance Market (USDmn) 2009-2013 34
Non Life Market Overview 35
The Product Offering 35
The Competitive Landscape 36
Table: Non-Life Insurance Market (USDmn) 2010-2014 38
Company Profile 40
ACE Group 40
AIG 43
MetLife 46
New York Life 49
State Farm 52
Methodology 55
Industry Forecast Methodology 55
Risk/Reward Index Methodology 58
Table: Indicators 60
Table: Weighting of Indicators 61

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Related Market Segments :

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Insurance
Life Insurance

ref:plp2016

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