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Global Insurance Brokers Market 2022 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | Aon Plc, Arthur J. Gallagher & Co, BB&T Corp., Brown & Brown Insurance Inc., HUB International Ltd
Insurance Brokers Market
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The global Insurance Brokers market report by the business research company identifies increasing demand for insurance policies is expected to be a major growth driver for the insurance brokers market. The demand for insurance policies has risen due to the availability of security services and customized financial services to clients. According to the Insurance Regulatory and Development Authority (IRDAI) of India, life insurers provided 286.48 lakh new individual policies in 2019, in which LIC provided 214.04 lakh policies and 72.44 lakh policies were issued by private life insurers. Therefore, the increasing demand for insurance policies drives the growth of the insurance brokerage market.
The global insurance brokers market grew from $90.52 billion in 2021 to $97.67 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The insurance brokers market is expected to grow to $116.52 billion in 2026 at a CAGR of 4.5%.
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North America was the largest region in the insurance brokers market in 2021. Western Europe was the second largest market in the insurance brokers market. The regions covered in the insurance brokers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major players in the market are Aon Plc, Arthur J. Gallagher & Co, BB&T Corp., Brown & Brown Insurance Inc., HUB International Ltd., Marsh & McLennan Companies Inc., NFP Corp., Willis Towers Watson Plc, Wells Fargo Insurance Services, and Meadowbrook Insurance Group.
The global Insurance Brokers market is segmented -
1) By Type: Life Insurance, General Insurance, Health Insurance, Other Types
2) By Mode: Offline, Online
3) By End User: Corporate, Individual
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The Insurance Brokers Market Report Contents Include
1. Executive Summary
2. Insurance Brokers Market Characteristics
3. Insurance Brokers Market Trends And Strategies
4. Insurance Brokers Market - Macro Economic Scenario
5. Insurance Brokers Market Size And Growth
....
27. Insurance Brokers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Insurance Brokers Market
29. Insurance Brokers Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the Insurance Brokers market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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