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Global Direct General Insurance Carriers: Market Research Report

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

Global Direct General Insurance Carriers Market Research Report | Aug 2014

The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Direct General Insurance Carriers global 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 globally and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
AIG AIG market share
Allianz Allianz market share
AXA AXA market share
State Farm Insurance State Farm Insurance market share
Industry Statistics & Forecast
Revenue
$1tr
Annual Growth 09-14
3.4%
Annual Growth 14-19
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Profit
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Employment ('000)
1,838
Businesses
58,048
Industry Analysis & Industry Trends

The Global General Insurance Carriers industry provides protection against the costs arising from a variety of property and casualty (P&C) events, such as auto accidents, natural catastrophes and medical malpractice. In the five years to 2014, industry revenue declined as investment income plummeted and premium prices softened. The next five years will feature strong revenue gains. Demand for insurance will grow, hardening premium prices, and investment income will pick up as investor confidence returns to global markets... read more

Starting a New Business

The Global Direct General Insurance Carriers industry has medium barriers to entry. To compete as an insurer, most markets require conformity with state and/or federal legislation. Furthermore, new entrants must adhere to stringent capital requirements and must report detailed financial information to regulators. Maintaining adequate capital and effectively managing risk present the largest barriers to entry; however, once these barrier are overcome, insurers have the ability to cede some risk to reinsurers, which can increase their capacity to grow.

The market is highly competitive across all product lines and in some state markets substantial over-capacity exists. As a result, new entrants must have significant capital to be able to price premiums at or near market rates... read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Global Direct General Insurance Carriers Industry?

Businesses in this industry initially underwrite insurance policies relating to property, casualty, liability and other general risks. In underwriting insurance policies, general insurers earn premiums that they then invest to generate additional income. The underwriting of life, disability, health and medical insurance represents a separate industry, although many businesses compete in both insurance markets.

Industry Products
Personal vehicle insurance productsCommercial vehicle insurance productsProperty and liability (excluding vehicle) insurance productsWorkers' compensation insurance productsMedical malpractice insurance productsTitle insurance products
 
Industry Activities
Directly underwriting automobile insuranceDirectly underwriting homeowners' insuranceDirectly underwriting title insuranceDirectly underwriting workers' compensation insuranceDirectly underwriting medical malpractice insuranceInvesting premiums earned by underwriting insurance policies


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