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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 | Feb 2017

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 focuses on industry performance in key regions around the world and identifies the leading companies globally.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Forecast
Revenue
$460bn
Annual Growth 12-17
2.9%
Annual Growth 17-22
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Profit
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Employment ('000)
2,315
Businesses
1,211,000
Industry Analysis & Industry Trends

Operators' efforts to boost the Global Insurance Brokers and Agencies industry's attractiveness as an insurance distribution and purchasing channel have been successful in slowing any head winds over the five years to 2017. This trend and a rebound in demand since the height of the global economic crisis have been significant contributors to revenue growth. Over the next five years, the industry is anticipated to benefit from an improving business environment and rising prices for policies underwritten by primary insurance carriers. Downstream demand from the financial sector will drive the recovery in fees, as an improved economy and intensified regulations boosts the need for insurance products... read more

Industry Products

The Global Insurance Brokers and Agencies industry sells a myriad of insurance products on behalf of insurers to businesses, households, government agencies and other insurers. These insurance policies include commercial and personal property and casualty, health and medical and life and accident insurance, as well as annuity products. The industry also provides a variety of fee-based administrative and risk-management consulting services, predominately in developed insurance markets.

Commercial and personal P&C insurance

Commercial P&C insurance is expected to account for 12.1% of total industry revenue in 2017. Com.. 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
Property and casualty - commercial linesProperty and casualty - personal linesHealth and medical insuranceLife and accident insuranceOther annuity and insuranceInsurance administration and consulting servicesOther insurance support services - third party administration
 
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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