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Global Insurance Brokers & Agencies: Market Research Report

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

Global Insurance Brokers & Agencies Market Research Report | Nov 2012

The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Insurance Brokers & Agencies 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
There are no companies with a dominant market share
Industry Statistics & Forecast
Revenue
$543bn
 Annual Growth 07-12
2.3%
 Annual Growth 12-17
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Profit
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 Employment ('000)
14,830
 Businesses
2,151,300
Industry Analysis & Industry Trends

The Global Insurance Brokers and Agencies industry is a critical part of the insurance market, distributing policies and providing advisory services to insurance underwriters and consumers. The industry comprises independent brokerages and agencies that act as intermediaries during insurance purchases. Brokerages also provide risk management consulting and other value-added services to their clients for fees. The majority of income is associated with insurance transactions. Therefore, industry revenue generally depends on three factors: policy pricing, demand for insurance and the popularity of using agents and brokers in distributing and purchasing insurance. The industry is forecast to generate revenue of $542.6 billion in 2012, a 3.7% increase on the previous year... read more

Industry Locations

The Global Insurance Brokers and Agencies industry generates the majority of revenue - 88.9% in 2012 - in Europe, North America and North Asia. The industry's revenue breakdown reflects the distribution of insurers' premium income combined with distribution penetration of insurance agents and brokers into various markets. In general, the dominance of Europe and North America is most reflective of the high premium share of these regions while North Asia's high revenue proportion is most reflective of the high distribution of share of agents and brokers. Over the last five years, however, the proportion of industry revenue attributable to these regions has dropped 2.6 percentage points, reflecting the development of regions such as South East Asia and South America... read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Global Insurance Brokers & Agencies Industry?

Industry participants act as agents or brokers in selling annuities and insurance policies. Agents represent insurance companies whereas brokers act on behalf of clients. Insurance agents and brokers earn commission income that is calculated as a percentage of the premium of policies sold. They also earn some fee income for risk management consulting and other value added services including insurance program administration.

Industry Products
Life insuranceHealth, medical and accident insuranceCommercial P&C insurancePersonal P&C insuranceAnnuitiesTitle insuranceOther annuity and insuranceAdministration and risk services
 
Industry Activities
Annuity distribution and brokerageLife, health and medical insurance policy distribution and brokerageProperty and casualty insurance policy distribution and brokerageReinsurance distribution and brokerageRisk management consultingAdministration of insurance initiatives such as employee benefit and captive insurance programs


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