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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 | Jun 2014

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
$387bn
Annual Growth 09-14
4.1%
Annual Growth 14-19
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Profit
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Employment ('000)
2,731
Businesses
1,202,000
Industry Analysis & Industry Trends

The Global Insurance Brokers and Agencies industry has maintained growth throughout the five years to 2014. With countries like China offering opportunities for expansion, growth is expected to continue in the five years to 2019... read more

Starting a New Business

The Global Life Insurance Brokers and Agencies industry operates with medium barriers to entry; however, barriers can vary depending on the area a new entrant may target. It is relatively easy for a small player to enter the market, but to compete with the industry's major players, an entrant must possess a significant level of capital to develop brand awareness, a distribution network, a broad line of complementary insurance-related services and a client base.

In the reinsurance market, where concentration is higher, competing with the industry's dominant players is even more difficult. Large agency and brokerage firms are required to invest heavily in a distribution network in order to obtain a significant retail presence in a geographically well-distributed market... read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Global Insurance Brokers & Agencies Industry?

Industry participants act as brokers or agents in selling annuities and insurance policies. Brokers act on behalf of clients, whereas agents represent insurance companies. Insurance brokers and agents 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
Commercial P&C insurancePersonal P&C insuranceHealth and medical insuranceLife and accident insuranceOther annuity and insuranceInsurance administration and risk consultingAnnuities
 
Industry Activities
Property and casualty insurance policy brokerageHealth and medical insurance brokerageLife and accident insurance brokerageReinsurance brokerage and administrationAnnuity brokerageRisk management consulting


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