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Agricultural Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Agricultural Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Apr 2016

Fertile ground: Revenue will rise as regulatory changes aid industry performance

IBISWorld’s Agricultural Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
ACE Group ACE Group market share
American Financial Group American Financial Group market share
Farmers Mutual Hail Farmers Mutual Hail market share
QBE QBE market share
RCIS RCIS market share
Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 11-16
-3.3%
Annual Growth 16-21
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Profit
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Employment
18,912
Businesses
25
Industry Analysis & Industry Trends

Despite steep losses incurred in 2012, sharp increases in crop insurance protection in force and strong premium gains in 2011 have driven the performance of the Agricultural Insurance industry in the past five years. Moreover, regulatory changes are anticipated to dictate the industry's performance over the five years to 2019. The 2014 Farm Bill continues to solidify crop insurance as the most important means for farmers to hedge production and price risk. Ultimately, industry revenue is forecast to rise, with consistent increases in the agricultural price index driving up revenue from 2016 onward.... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Agricultural Insurance industry operates with a moderate level of market share concentration. The top four companies are estimated to account for about 46.0% of total industry revenue in 2016, representing a substantial decrease from 2011. Some companies have entered the market in recent years, including HCC and Zurich Insurance Group initiating industry operations in late 2014 through the addition of a multi-peril crop insurance program. Yet, concentration has been falling in the industry even with increased to merger and acquisition activity. For example, Farmers Mutual Hail Insurance purchased acquired John Deere Insurance Co in late 2014. Despite the lack of price competition in the industry, increasing scale does provide insurers with operational advantages... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Agricultural Insurance Industry?

Agricultural insurance, also known as crop insurance is purchased by agricultural producers, including farmers, ranchers and others. It protects against either the loss of their crops due to natural disasters, such as hail, drought and floods, or the loss of revenue due to declines in the prices of agriculture commodities.

Industry Products
Multiple peril crop insurance - revenue programsMultiple peril crop insurance - other programsCrop-hail insurance
 
Industry Activities
Providing multiple peril crop insuranceProviding crop-hail insurance


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