$2.9tr
$XXX.Xbn
3m
8,976
$XXX.Xbn
The Global Direct General Insurance Carriers industry has faced challenges over the past five years, with issues such as a soft insurance market, low interest rates at the onset of the period and numerous catastrophes affecting all operators in major markets. However, the rapid growth of emerging markets has slightly offset stagnating mature markets. An expanding middle class in countries like China has increased demand for insurance, limiting declines in industry revenue. Therefore, global direct general insurance carrier revenue is expected to lag at a CAGR of 1.1% to $2.9 trillion over the five years to 2024, including an expected decline of 0.6% in 2024 alone.
Industry revenue has declined at a CAGR of 1.1 % over the past five years, to reach an estimated $2.9tr in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Allianz SE | 85,574.9 | 7,478.3 | 8.7 | |
State Farm General Insurance Company | 72,134.0 | 4,757.2 | 6.6 | |
AXA SA | 62,589.0 | 5,861.4 | 9.4 |
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Industry revenue is measured across several distinct product and services lines, including Auto insurance, Property insurance and Liability insurance. Auto insurance is the largest segment of the Global Direct General Insurance Carriers.
General auto insurance plans climb due to the chip shortage propelling car prices and fueling auto insurance rates
Operators in the Global Direct General Insurance Carriers 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.
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Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Insurers will encounter a greater amount of policy volumes with individuals purchasing new cars and driving more following the pandemic. Greater policy volumes and rising pre...
Learn about an industry's products and services, markets and trends in international trade.
The pandemic led to a jump in worker-related insurance, as many were unemployed or hindered for the better part of a year.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Population and economic growth are crucial determinants of geographic spread, making North America, Europe and Northern Asia prime locations.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Some smaller companies take advantage of geographic locations and specialize in that region, and this usually happens in countries or regions with a smaller presence business-...
Learn about the performance of the top companies in the industry.
Companies participated in several major acquisitions throughout the period, with most acquisitions being aimed at expansion into new geographical areas. For example, Allianz'...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Regulations across several countries are strict. Forcing companies to adhere to all of them individually, causing roadblocks for global operations.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wages remain high since the technical, complicated nature of the industry requires highly educated individuals.
Including values and annual change:
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Key data sources globally include:
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The market size of the Global Direct General Insurance Carriers industry in Global is $2.9tr in 2024.
There are 8,976 businesses in the Global Direct General Insurance Carriers industry in Global, which has declined at a CAGR of 2.6 % between 2019 and 2024.
The market size of the Global Direct General Insurance Carriers industry in Global has been declining at a CAGR of 1.1 % between 2019 and 2024.
Over the next five years, the Global Direct General Insurance Carriers industry in Global is expected to grow.
The biggest companies operating in the Global Direct General Insurance Carriers market in Global are Allianz SE, State Farm General Insurance Company and AXA SA
Directly underwriting automobile insurance and Directly underwriting homeowners' insurance are part of the Global Direct General Insurance Carriers industry.
The company holding the most market share in Global is Allianz SE.
The level of competition is high and steady in the Global Direct General Insurance Carriers industry in Global.