Press release
Insurance, Reinsurance and Insurance Brokerage Market: Strong Growth Driven by Rising Healthcare Costs and Increased Internet Penetration
Insurance, Reinsurance And Insurance Brokerage Market Size
What Is The Projected Market Size Of The Global Insurance, Reinsurance And Insurance Brokerage Market And Its Growth Rate?
• Forecast: The global insurance, reinsurance and insurance brokerage market projects strong growth, expected to reach $12498.55 billion in 2029, from $8846.3 billion in 2024, at a compound annual growth rate (CAGR) of 7.1%.
• Drivers: factors driving this growth include an increase in chronic diseases, urbanization, government support, and rising demand for insurance policies, particularly in emerging economies.
• Trends: Major trends expected in the forecast period include urbanization, rising middle-class populations in emerging markets, and increasing government support for insurance policies.
What Is Driving The Growth In The Insurance, Reinsurance And Insurance Brokerage Market?
The increase in internet penetration and the associated risks with critical transactions are propelling the demand for cyber insurance. Cyber insurance provides cover for internet-based risks, network failure liability, property theft, business interruption, data loss and others, driving overall market growth. For instance, a report by the National Telecommunications and Information Administration revealed a 13 million increase in the number of internet users in the United States in just two years, from 2021 to 2023.
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Who Are the Key Players Driving Insurance, Reinsurance And Insurance Brokerage Market Growth?
• Allianz Group
• Ping An Insurance
• China Life Insurance Company Limited
• Axa Group
• Centene Corporation
• Assicurazioni Generali S.p.A.
• Humana Inc
• The People's Insurance Company (Group) of China Limited
• Berkshire Hathaway
• Munich Re
*Additional companies included in the full report*
What Are The Key Trends In The Insurance, Reinsurance And Insurance Brokerage Market?
• Growth of the middle-class in emerging markets
• Increase in chronic diseases and disabilities
• Increasing government support
• Rapid urbanization
• Increasing demand for insurance policies
What Are The Segments Of The Global Insurance, Reinsurance And Insurance Brokerage Market?
1) By Type: Insurance, Insurance Brokers And Agents, Reinsurance
2) By Mode: Online, Offline
3) By End-User: Corporate, Individual
Which Region Leads The Insurance, Reinsurance And Insurance Brokerage Market?
The North America region dominated the insurance, reinsurance, and insurance brokerage market in 2024, with Asia/Pacific being the second largest region. The report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Insurance, Reinsurance And Insurance Brokerage Market Global Market Report?
- Market Size Analysis: Analyze the Insurance, Reinsurance, And Insurance Brokerage Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Insurance, Reinsurance, And Insurance Brokerage Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Insurance, Reinsurance, And Insurance Brokerage Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Insurance, Reinsurance, And Insurance Brokerage Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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