Over the five years to 2018, the Global Direct General Insurance Carriers industry has encountered headwinds, as a softening insurance market, low interest rates and numerous catastrophic disasters have hurt operators. 2015 was an especially tough year for operators, as the collapse in commodity prices sparked uncertainty throughout the globe, severely hampering industry performance during the five-year period. Over the five years to 2023, industry revenue is forecast to increase. Emerging markets' demand for insurance products is expected to continue to grow over the five years to 2023. Higher per capita income in these countries will make consumers more inclined to purchase goods such as cars and homes, which are normally insured...purchase to read more.

Industry Statistics & Market Size
Revenue
$2tr
Annual Growth 13-18
-0.4%
Forecast Growth 18-23
Profit
Employment
2.7m
Businesses
78,584

Industry Report - Industry Analysis Chapter

The Global Direct General Insurance Carriers industry plays a vital role in worldwide economic development by lessening the financial volatility that results from large losses among households and businesses. To do this, the industry assumes inherent risks in asset ownership and production to facilitate global investment, production and consumption of both goods and services. The market can broadly be split into two categories: personal lines and commercial lines. Personal lines, which account for an estimated 51.2% of industry premiums, provide financial protection against an array of risks and legal liabilities associated with automotive and home ownership. Commercial lines, which represent 46.4% o...purchase to read more.

Additional Insights for the Global Direct General Insurance Carriers Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Global Direct General Insurance Carriers Industry are

  • Provision of a related range of goods/services
  • Economies of scale
  • Development of credible and soundly based investment strategies
  • IBISWorld analysts also discuss how external factors such as Global per capita income and Global damage caused by natural disasters in the Global Direct General Insurance Carriers industry impact industry performance..

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    What's in this report

    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
  • Private passenger auto
  • Homeowners multiple peril
  • Workers' compensation
  • Commercial multiple peril
  • Commercial auto
  • Industry Activities
  • Directly underwriting automobile insurance
  • Directly underwriting homeowners' insurance
  • Directly underwriting title insurance
  • Directly underwriting workers' compensation insurance
  • Directly underwriting medical malpractice insurance
  • Investing premiums earned by underwriting insurance policies
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Global per capita income
  • Global damage caused by natural disasters
  • Industrial production index of OECD countries
  • LIBOR - London Interbank Offered Rate
  • MSCI World Index

  • Current Performance
    Emerging markets drive premium growthRecession and industry structureProfit and investment income
  • Chart: Revenue Growth

  • Industry Outlook
    Mergers, acquisitions and investment conditionsEconomies of scope, innovation and regulation
  • Table: Global Direct General Insurance Carriers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Global Direct General Insurance Carriers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Global Mining
  • Global Manufacturing
  • Global Construction
  • Global Financial Intermediation
  • Consumers

  • Key Selling Industries
  • Global Advertising Agencies
  • Global Commercial Real Estate
  • Global Insurance Brokers & Agencies
  • Global Reinsurance Carriers

  • Products & Services
  • Private passenger auto
  • Other
  • Homeowners multiple peril
  • Workers' compensation
  • Commercial multiple peril
  • Commercial auto
  • Chart: Global Direct General Insurance Carriers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Personal market
  • Commercial market
  • Other insurance carriers
  • Chart: Major Market Segmentation for the Global Direct General Insurance Carriers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Loss and loss adjustment expenses
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Global Direct General Insurance Carriers

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Global Direct General Insurance Carriers Industry

  • Industry Globalization
    State Farm General Insurance Co Inc, Allianz SE, AXA SA, American International Group Inc.,
  • Table: State Farm General Insurance Co Inc - financial performance
  • Table: Allianz SE - financial performance
  • Table: AXA SA - financial performance
  • Table: American International Group Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Global Direct General Insurance Carriers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Global Direct General Insurance Carriers Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Global damage caused by natural disasters (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Capacity
  • The supply of insurance and is the maximum amount of insurance a company or market can underwrite based on financial strength.
  • Combined Ratio
  • A measure of an insurer's underwriting performance. It represents claims and underwriting expenses as a proportion of net premiums. A combined ratio of above 100.0% indicates an underwriting loss.
  • Surplus
  • The difference between an insurer's liabilities and its assets and represents the financial cushion that protects policyholders in case of unexpectedly high claims.
  • What Our Customers Say

    Why buy this report?

    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 offers insightful industry analysis and research into the market at an international level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Global Direct General Insurance Carriers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Global Direct General Insurance Carriers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Global Direct General Insurance Carriers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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