The global insurance, reinsurance and insurance brokerage market is expected to grow from $5227.08 billion in 2020 to $5847.93 billion in 2021 at a compound annual growth rate (CAGR) of 11.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7404.03 billion in 2025 at a CAGR of 6%.
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The insurance, reinsurrance and insurance brokerage market consists of sales of insurance by entities (organizations, sole traders and partnerships) that are engaged in providing insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage and reinsurance. The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal as well as the fees or commissions paid to brokers. The insurance market is segmented into insurance; insurance brokers & agents and reinsurance.
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The insurance, reinsurance and insurance brokerage market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the insurance, reinsurance and insurance brokerage market are Unitedhealth Group; AXA; Munich Re; Allianz; Generali.
The global insurance, reinsurance and insurance brokerage market is segmented –
1) By Type: Insurance, Insurance Brokers & Agents, Reinsurance
2) By Mode: Online, Offline
3) By End User: Corporate, Individual
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The insurance, reinsurance and insurance brokerage market report describes and explains the global insurance, reinsurance and insurance brokerage market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The insurance, reinsurance and insurance brokerage report evaluates the market across each region and for the major economies within each region.
The countries covered in the global insurance, reinsurance and insurance brokerage market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global insurance, reinsurance and insurance brokerage market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Insurance, Reinsurance And Insurance Brokerage Market Characteristics
- Insurance, Reinsurance And Insurance Brokerage Market Product Analysis
- Insurance, Reinsurance And Insurance Brokerage Market Supply Chain
- Key Mergers And Acquisitions In The Insurance, Reinsurance And Insurance Brokerage Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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