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Automobile Insurance in the US: Market Research Report

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

Automobile Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Feb 2015

Road to recovery: Providers will benefit from more car purchases and higher interest rates

IBISWorld’s Automobile Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Allstate Insurance Company Allstate Insurance Company market share
Berkshire Hathaway Inc. Berkshire Hathaway Inc. market share
Progressive Progressive market share
State Farm State Farm market share
Zurich Financial Services Group Zurich Financial Services Group market share
Industry Statistics & Market Size
Revenue
$220bn
Annual Growth 10-15
1.9%
Annual Growth 15-20
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Profit
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Employment
277,383
Businesses
1,958
Industry Analysis & Industry Trends

Over the five years to 2020, revenue for the Automobile Insurance industry is forecast to increase as continued improvements in the macroeconomic landscape benefit investment conditions for auto insurers. Given that the majority of auto insurer assets are invested in bonds, forecast increases in interest rates will likely boost investment gains. Despite this trend, consolidation in the industry is expected to continue, with larger operators viewing strategic acquisitions as a lucrative method to expand their share of the market.... purchase to read more

Industry Report - Industry Key Buyers Chapter

Market share concentration within the Automobile Insurance industry is moderate, with the top four companies accounting for an estimated 45.0% of total industry revenue in 2015. This level of concentration has increased slightly in recent years, with the top four companies accounting for 42.9% of total industry revenue in 2010. Concentration has marginally increased over the five-year period as result of continued insurance company consolidation, both within the industry specifically and in the broader insurance sector, and the sharp growth of GEICO and Progressive.

Over the five years to 2015, the number of industry enterprises is anticipated to decline at an annualized rate of 0.7% to reach 1,958 companies... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Automobile Insurance Industry?

This industry underwrites, or assumes the risk and assigns premiums for, auto insurance policies. Car insurance provides financial protection against physical damage to automobiles and bodily injuries resulting from traffic collisions. Automobile insurance can also protect against resulting liability.

Industry Products
Personal liability insurancePersonal collision/comprehensive insuranceCommercial liability insuranceCommercial collision/comprehensive insurance
 
Industry Activities
Directly underwriting private passenger liability insuranceDirectly underwriting private passenger collision/comprehensive insuranceDirectly underwriting commercial liability insuranceDirectly underwriting commercial collision/comprehensive insurance


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