This Insurance (Providers, Brokers and Re-Insurers) market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.
The insurance (providers, brokers and re-insurers) market size has grown strongly in recent years. It will grow from $7.75 trillion in 2024 to $8.3 trillion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising diabetes prevalence, advancements in insulin delivery, patient preference for convenience, aging population.
The insurance (providers, brokers and re-insurers) market size is expected to see strong growth in the next few years. It will grow to $10.83 trillion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support and reimbursement, personalized medicine, value-based healthcare. Major trends in the forecast period include artificial intelligence (ai) integration, handheld and wireless ultrasound devices, 3d/4d imaging, fusion imaging.
The global payments industry has experienced a rapid surge in the adoption of EMV technology. This surge is primarily attributed to the heightened level of data security provided by EMV chips and PIN cards compared to conventional magnetic stripe cards. EMV stands for a security standard utilized in various payment cards, such as debit, credit, charge, and prepaid cards. These cards include a chip that securely stores cardholder and account data, safeguarded by both hardware and software security measures. For example, as reported by Thales Group in August 2023, 69.25% of all issued payment cards worldwide were EMV chip-based in 2022, marking an increase from 77.52% in 2021 to 87.19% in 2022 in EMV card transactions.
The increasing occurrences of road accidents are anticipated to fuel growth in the insurance market in the future. Road accidents, encompassing incidents involving vehicles like cars, trucks, motorcycles, bicycles, and pedestrians, result in collisions with other vehicles or road obstacles, leading to vehicle damage and human injuries. Insurance serves as a financial safeguard to handle the monetary aftermath of road accidents, covering aspects such as damage to the insured vehicle, medical expenses for injuries, liability for injuries, and property damage caused to others. For example, in October 2023, the Ministry of Road Transport & Highways, an India-based nodal agency, reported that India recorded 461,312 road accidents in 2022, resulting in 168,491 fatalities and 443,366 injuries. This represented an 11.9% increase in accidents and a 9.4% rise in fatalities compared to the previous year. As a result, the rising number of road accidents is driving the growth of the insurance market.
Major companies in the insurance market are advancing innovative technologies to maintain their market presence, including the introduction of specialized insurance products like robotic errors and omissions insurance. This specialized insurance is tailored to provide professional liability coverage exclusively designed for robotics services. For example, in September 2022, Koop Technologies, a US-based insurance technology company, introduced the robotic errors and omissions insurance product. This insurance is specifically crafted for various sectors engaging in manufacturing, operating, and providing services involving robots and off-road autonomous vehicles. It caters to automation risks and addresses the distinct requirements of the robotics ecosystem. Furthermore, this insurance coverage extends to legal expenses in instances where a third party claims financial loss caused by a robotics company.
Major companies operating in the insurance (providers, brokers and re-insurers) market include UnitedHealth Group, Axa S.A., Munich Re, Allianz SE, Generali Group, Swiss Re Ltd., Hannover Reinsurance S.E., Berkshire Hathaway Assurance, Progressive Corporation, Allstate Corporation, Liberty Mutual Insurance Group, The Travelers Companies Inc., USAA, Chubb Limited, Nationwide Mutual Insurance Company, American International Group Inc., American Family Insurance Group, Erie Insurance Group, Auto-Owners Insurance Group, CNA Financial Corporation, The Hartford Financial Services Group Inc., State Auto Financial Corporation, Cincinnati Financial Corporation, Mercury General Corporation, AmTrust Financial Services Inc., AXIS Capital Holdings Limited, Taiping Reinsurance Co. Ltd., Marsh McLennan Companies Inc., Aon PLC, Willis Towers Watson Holdings PLC, Arthur J. Gallagher & Co., Hub International Limited, Brown & Brown Inc., Lincoln Financial Group.
North America was the largest region in the insurance (providers, brokers, and re-insurers) market in 2024. Asia-Pacific was the second largest region in the global insurance (providers, brokers, and re-insurers) market. The regions covered in the insurance (providers, brokers, and re-insurers) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the insurance (providers, brokers and re-insurers) market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Insurance (providers, brokers, and re-insurers) refers to the key roles within the insurance industry. Providers are companies that underwrite and offer insurance policies directly to consumers. Brokers serve as intermediaries, assisting clients in finding the most suitable policies from a range of insurers. Re-insurers offer insurance to other insurers, helping them share risks and protect against significant financial losses.
The primary categories within the insurance domain consist of insurance providers, brokers, and agents, alongside reinsurance providers. Reinsurance providers are entities that offer insurance services to other businesses, meaning they assume insurance liabilities from other entities. These services are accessible through both online and offline channels and cater to corporate as well as individual end-users.
The insurance (providers, brokers, and re-insurers) research report is one of a series of new reports that provides insurance (providers, brokers, and re-insurers) statistics, including insurance (providers, brokers, and re-insurers) industry global market size, regional shares, competitors with insurance (providers, brokers, and re-insurers) share, detailed insurance (providers, brokers, and re-insurers) segmentation, market trends and opportunities, and any further data you may need to thrive in the insurance (providers, brokers, and re-insurers) industry. This insurance (providers, brokers, and re-insurers) research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The insurance market consists of sales of insurance products by entities that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier). The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The insurance (providers, brokers and re-insurers) market size has grown strongly in recent years. It will grow from $7.75 trillion in 2024 to $8.3 trillion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising diabetes prevalence, advancements in insulin delivery, patient preference for convenience, aging population.
The insurance (providers, brokers and re-insurers) market size is expected to see strong growth in the next few years. It will grow to $10.83 trillion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support and reimbursement, personalized medicine, value-based healthcare. Major trends in the forecast period include artificial intelligence (ai) integration, handheld and wireless ultrasound devices, 3d/4d imaging, fusion imaging.
The global payments industry has experienced a rapid surge in the adoption of EMV technology. This surge is primarily attributed to the heightened level of data security provided by EMV chips and PIN cards compared to conventional magnetic stripe cards. EMV stands for a security standard utilized in various payment cards, such as debit, credit, charge, and prepaid cards. These cards include a chip that securely stores cardholder and account data, safeguarded by both hardware and software security measures. For example, as reported by Thales Group in August 2023, 69.25% of all issued payment cards worldwide were EMV chip-based in 2022, marking an increase from 77.52% in 2021 to 87.19% in 2022 in EMV card transactions.
The increasing occurrences of road accidents are anticipated to fuel growth in the insurance market in the future. Road accidents, encompassing incidents involving vehicles like cars, trucks, motorcycles, bicycles, and pedestrians, result in collisions with other vehicles or road obstacles, leading to vehicle damage and human injuries. Insurance serves as a financial safeguard to handle the monetary aftermath of road accidents, covering aspects such as damage to the insured vehicle, medical expenses for injuries, liability for injuries, and property damage caused to others. For example, in October 2023, the Ministry of Road Transport & Highways, an India-based nodal agency, reported that India recorded 461,312 road accidents in 2022, resulting in 168,491 fatalities and 443,366 injuries. This represented an 11.9% increase in accidents and a 9.4% rise in fatalities compared to the previous year. As a result, the rising number of road accidents is driving the growth of the insurance market.
Major companies in the insurance market are advancing innovative technologies to maintain their market presence, including the introduction of specialized insurance products like robotic errors and omissions insurance. This specialized insurance is tailored to provide professional liability coverage exclusively designed for robotics services. For example, in September 2022, Koop Technologies, a US-based insurance technology company, introduced the robotic errors and omissions insurance product. This insurance is specifically crafted for various sectors engaging in manufacturing, operating, and providing services involving robots and off-road autonomous vehicles. It caters to automation risks and addresses the distinct requirements of the robotics ecosystem. Furthermore, this insurance coverage extends to legal expenses in instances where a third party claims financial loss caused by a robotics company.
Major companies operating in the insurance (providers, brokers and re-insurers) market include UnitedHealth Group, Axa S.A., Munich Re, Allianz SE, Generali Group, Swiss Re Ltd., Hannover Reinsurance S.E., Berkshire Hathaway Assurance, Progressive Corporation, Allstate Corporation, Liberty Mutual Insurance Group, The Travelers Companies Inc., USAA, Chubb Limited, Nationwide Mutual Insurance Company, American International Group Inc., American Family Insurance Group, Erie Insurance Group, Auto-Owners Insurance Group, CNA Financial Corporation, The Hartford Financial Services Group Inc., State Auto Financial Corporation, Cincinnati Financial Corporation, Mercury General Corporation, AmTrust Financial Services Inc., AXIS Capital Holdings Limited, Taiping Reinsurance Co. Ltd., Marsh McLennan Companies Inc., Aon PLC, Willis Towers Watson Holdings PLC, Arthur J. Gallagher & Co., Hub International Limited, Brown & Brown Inc., Lincoln Financial Group.
North America was the largest region in the insurance (providers, brokers, and re-insurers) market in 2024. Asia-Pacific was the second largest region in the global insurance (providers, brokers, and re-insurers) market. The regions covered in the insurance (providers, brokers, and re-insurers) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the insurance (providers, brokers and re-insurers) market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Insurance (providers, brokers, and re-insurers) refers to the key roles within the insurance industry. Providers are companies that underwrite and offer insurance policies directly to consumers. Brokers serve as intermediaries, assisting clients in finding the most suitable policies from a range of insurers. Re-insurers offer insurance to other insurers, helping them share risks and protect against significant financial losses.
The primary categories within the insurance domain consist of insurance providers, brokers, and agents, alongside reinsurance providers. Reinsurance providers are entities that offer insurance services to other businesses, meaning they assume insurance liabilities from other entities. These services are accessible through both online and offline channels and cater to corporate as well as individual end-users.
The insurance (providers, brokers, and re-insurers) research report is one of a series of new reports that provides insurance (providers, brokers, and re-insurers) statistics, including insurance (providers, brokers, and re-insurers) industry global market size, regional shares, competitors with insurance (providers, brokers, and re-insurers) share, detailed insurance (providers, brokers, and re-insurers) segmentation, market trends and opportunities, and any further data you may need to thrive in the insurance (providers, brokers, and re-insurers) industry. This insurance (providers, brokers, and re-insurers) research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The insurance market consists of sales of insurance products by entities that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier). The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Executive Summary
Insurance (Providers, Brokers and Re-Insurers) Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on insurance (providers, brokers and re-insurers) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for insurance (providers, brokers and re-insurers) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The insurance (providers, brokers and re-insurers) market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include: the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Insurance Providers; Insurance Brokers and Agents; Reinsurance Providers2) By Mode: Online; Offline
3) By End User: Corporate; Individual
Subsegments:
1) By Insurance Providers: Life Insurance; Health Insurance; Property and Casualty Insurance; Auto Insurance; Commercial Insurance; Others (Travel Insurance, Pet Insurance)2) By Insurance Brokers and Agents: Independent Brokers; Captive Agents; Direct Brokers; Online Brokers
3) By Reinsurance Providers: Life Reinsurance; Non-life Reinsurance; Facultative Reinsurance; Treaty Reinsurance
Key Companies Mentioned: UnitedHealth Group; Axa S.a.; Munich Re; Allianz SE; Generali Group
Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies featured in this Insurance (Providers, Brokers and Re-Insurers) market report include:- UnitedHealth Group
- Axa S.A.
- Munich Re
- Allianz SE
- Generali Group
- Swiss Re Ltd.
- Hannover Reinsurance S.E.
- Berkshire Hathaway Assurance
- Progressive Corporation
- Allstate Corporation
- Liberty Mutual Insurance Group
- The Travelers Companies Inc.
- USAA
- Chubb Limited
- Nationwide Mutual Insurance Company
- American International Group Inc.
- American Family Insurance Group
- Erie Insurance Group
- Auto-Owners Insurance Group
- CNA Financial Corporation
- The Hartford Financial Services Group Inc.
- State Auto Financial Corporation
- Cincinnati Financial Corporation
- Mercury General Corporation
- AmTrust Financial Services Inc.
- AXIS Capital Holdings Limited
- Taiping Reinsurance Co. Ltd.
- Marsh McLennan Companies Inc.
- Aon plc
- Willis Towers Watson Holdings plc
- Arthur J. Gallagher & Co.
- Hub International Limited
- Brown & Brown Inc.
- Lincoln Financial Group
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | April 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 8.3 Trillion |
| Forecasted Market Value ( USD | $ 10.83 Trillion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 34 |
