Freightage Insurance Market 2020-2024 | Factors Challenging the Industry and Top Players - Allianz, Munich RE, Generali, AXA, AIG, CSA

Global Freightage Insurance Market 2020-2024 examines the market in detail along with focusing on significant market dynamics for the key players in the market. This research report offers granulated yet in-depth analysis of revenue share, market segments, revenue estimates and various regions across the globe.

Overview of Global Freightage Insurance Market:

Freightage Insurance is amount payable by a charterer or shipper to a shipowner for the letting of the ship or space therein for carriage of goods by sea. Advance freight is payable to a shipowner on the signing of a bill of lading or on shipment instead of on delivery of the goods; such freight is not normally returnable in the event of the ship or the goods being lost before the start of the voyage. The price or compensation paid for the transportation of goods by a carrier. The buyer accepts liability for paying the cost of freight in addition to the costs of the goods and insurance on them. The price or compensation paid for the transportation of goods by carrier. The liability of a carrier for freight damage, lost or destroyed during shipment is determined by contract, statute or Tort Law.

The report contains a complete product overview and its scope in the market to define the key terms and provide the clients a holistic idea of the market and its tendency. It comprehensively evaluates the global Freightage Insurance market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects.

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Growth in the historic period resulted from economic growth in emerging markets, the rise in awareness of the benefits and developed nations towards Freightage Insurance costs and an increase in the number of Freight is also applied to the goods transported by such carriers.

Product Type Segmentation:
The Freightage Insurance market have different product type such as Ocean Shipping, Land Transportation and Air Transport. Freightage Insurance market product type gives Freight is also applied to the goods transported by such carriers.

Industry Segmentation:

Increasing instances across various sectors such as Personal and Enterprise are raising the need of freightage insurance, thereby raising the demand for Freightage Insurance market. This help in the profitable growth of the Global Freightage Insurance market in upcoming year.

Segmentation by Regions:

The Freightage Insurance market in North America has created Freight is also applied to the goods transported by such carriers to help freightage insurance in the world. It was followed by Western Europe, China, Japan, Southeast Asia, India and Central & South America regions. Asia Pacific is expected to record higher growth rate in Freightage Insurance Market during the forecast year.

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Top Leading Key Manufacturers are: Allianz, Munich RE, Generali, AXA, Hanse Merkur, Groupama, Mapfre Asistencia, AIG, CSA Travel Protection, USI Affinity, Seven Corners, MH Ross, Tokio Marine, Sompo Japan, Pingan Baoxian, STARR. New product launches and continuous technological innovations are the key strategies adopted by the major players.

Top Industry News:

Allianz and BBVA to form long-term bancassurance joint venture in Spain on 27 April, 2020 -- Today Allianz and Banco Bilbao Vizcaya Argentaria (BBVA) have signed an agreement to create a bancassurance joint venture (JV) in Spain including a long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA's banking network in Spain.

The inforce insurance business that BBVA Seguros will transfer to the new JV in 2019 had circa 300 million euros of gross premiums written. Allianz will acquire 50 percent plus 1 share in the JV for an initial price of 277 million euros and in addition pay a variable amount of up to 100 million euros related to achieving specific business and operational goals.

Under the agreement, BBVA will exclusively partner with Allianz to meet its customers' needs in the country for non-life and non-health insurance products.

The partnership combines BBVA's leading and digitally-enhanced banking franchise with Allianz' insurance expertise and long-standing experience in the Spanish market. BBVA is one of the largest banks in Spain with circa 2,600 branches and has a successful track record in attracting circa 11 million retail customers. Its banking customers will now have an easy access to Allianz' insurance solutions through BBVA's extensive branch network and leading digital platforms. With non-life premium income of 2.4 billion euros in 2019, Allianz Seguros is ranked among the top three property-casualty insurers in Spain.

"Our strategic focus is very similar and our collaboration in building one of the biggest bancassurance partnerships in property-casualty insurance, including a focus on digital solutions will lead to mutual success," said Oliver Bate, Chief Executive Officer of Allianz SE. "This partnership will enhance BBVA's offering by delivering a full range of attractive non-life insurance products to customers, leveraging on its leading position in the country, as well as on Allianz' recognized brand and capabilities. We continue to innovate and join forces in co-creating world-class digital products for our customers, and we are pleased that BBVA has chosen Allianz as the best solution provider for its customers."

"We are very pleased to enter into a long-term bancassurance relationship with BBVA in Spain," said Ivan de la Sota, Chief Transformation Officer of Allianz SE. "This partnership strengthens our position in the market and demonstrates our strong commitment to continue growing in Spain, even more during these difficult times. Together with BBVA, we aim to develop new innovative insurance solutions that are simple and attractive for the customers."

"We are confident that the strategic alliance with Allianz announced today will strengthen BBVA's strategy and it is fully aligned with our priority of improving the financial health of clients. Partnering with a top insurer like Allianz will bring a wider and more innovative insurance offering to BBVA's clients in Spain," said Carlos Torres Vila, Chairman of BBVA.

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Major Points in Table of Contents:

1 Freightage Insurance Product Definition
2 Global Freightage Insurance Market Manufacturer Share and Market Overview
2.1 Global Manufacturer Freightage Insurance Shipments
2.2 Global Manufacturer Freightage Insurance Business Revenue
2.3 Global Freightage Insurance Market Overview
3 Manufacturer Freightage Insurance Business Introduction
3.1 Allianz Freightage Insurance Business Introduction
3.1.1 Allianz Freightage Insurance Shipments, Price, Revenue and Gross profit 2014-2019
3.1.2 Allianz Freightage Insurance Business Distribution by Region
3.1.3 Allianz Interview Record
3.1.4 Allianz Freightage Insurance Business Profile
3.1.5 Allianz Freightage Insurance Product Specification
3.2 Munich RE Freightage Insurance Business Introduction
3.2.1 Munich RE Freightage Insurance Shipments, Price, Revenue and Gross profit 2014-2019
3.2.2 Munich RE Freightage Insurance Business Distribution by Region
3.2.3 Interview Record
3.2.4 Munich RE Freightage Insurance Business Overview
3.2.5 Munich RE Freightage Insurance Product Specification
3.3 Generali Freightage Insurance Business Introduction
3.3.1 Generali Freightage Insurance Shipments, Price, Revenue and Gross profit 2014-2019
3.3.2 Generali Freightage Insurance Business Distribution by Region
3.3.3 Interview Record
3.3.4 Generali Freightage Insurance Business Overview
3.3.5 Generali Freightage Insurance Product Specification
3.4 AXA Freightage Insurance Business Introduction
3.5 Hanse Merkur Freightage Insurance Business Introduction
3.6 Groupama Freightage Insurance Business Introduction
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