Commercial Insurance Market Report 2026

The commercial insurance market size has grown strongly in recent years. It will grow from $841.75 billion in 2025 to $924.23 billion in 2026 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to growing number of small and medium enterprises, rising exposure to operational and liability risks, increased regulatory insurance requirements, expansion of global trade activities, broader awareness of business risk protection.

The commercial insurance market size is expected to see rapid growth in the next few years. It will grow to $1.35 trillion in 2030 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to increasing cyber threat exposure, rising demand for climate risk insurance solutions, growing adoption of digital insurance platforms, expansion of usage-based commercial policies, increasing regulatory focus on risk mitigation. Major trends in the forecast period include expanding adoption of cyber risk coverage, rising demand for customized commercial insurance policies, growing use of data-driven risk assessment models, increased focus on business continuity and interruption coverage, expansion of industry-specific insurance solutions.

Globalization and the rise in business travel are anticipated to contribute to the growth of the commercial insurance market during the forecast period. Globalization refers to the interconnectedness and integration of economies, cultures, and societies on a global scale, which has led to an increase in business travel for international collaboration and market expansion. This surge in both national and international business travel is driving the growth of the business travel insurance market, as it offers immediate coverage for personal belongings, business equipment, and damages caused by the insured to third parties. For instance, according to the Business Travel Outlook Poll for the first quarter of 2023 conducted by GBTA (Global Business Travel Association), a U.S.-based organization focused on advancing the interests of professionals in the business travel industry, 78% of travel managers worldwide expect their companies to engage in more business travel in 2023. Therefore, globalization and the increase in business travel are expected to facilitate the growth of the business travel accident insurance market.

Major players in the commercial insurance market are strategically launching new products to fortify their positions. In February 2023, WeSure Digital Insurance Services, Inc., the US Managing General Agency (MGA) subsidiary of the international insurance and technology group, WeSure Global Tech Ltd, announced the introduction of its fully digital insurance offering in the US. The initial offering includes a Business Owners Policy (BOP) packaged Property & Liability insurance product in the State of Ohio. WeSure Digital plans to expand its digital insurance offerings to additional US states throughout 2023, introducing more products to cater to various business needs.

In January 2024, The Travelers Companies Inc., a US-based insurance provider, acquired Corvus Insurance Holdings, Inc. for around $435 million. Through this acquisition, Travelers sought to speed up access to advanced cyber insurance capabilities, broaden its technology-enabled underwriting tools, and reinforce its cyber risk management solutions across its wider insurance portfolio. Corvus Insurance Holdings Inc. is a US-based cyber insurance managing general underwriter focused on delivering AI-powered cyber risk assessment, underwriting, and integrated cyber insurance sales, service, and support solutions for wholesale brokers and large producers.

Major companies operating in the commercial insurance market are Aon plc, Marsh LLC, Willis Towers Watson Public Limited Company, Direct Line Insurance Group plc, American International Group Inc., Chubb Limited, Zurich Insurance Group Ltd., Travelers Companies Inc., Berkshire Hathaway Inc., CNA Financial Corporation, The Hanover Insurance Group Inc., The Progressive Corporation, Hiscox Ltd., Markel Corporation, QBE Insurance Group Limited, Nationwide Mutual Insurance Company, Farmers Insurance Group Co. Inc., Erie Insurance Group, The Cincinnati Insurance Company, American Family Mutual Insurance Company S.I., Aflac Inc., Allstate Corporation, American National Insurance Company, Assurant Inc., AXA S.A., Beazley plc, Cigna Corporation, Crum & Forster Holdings Corp., Everest Re Group Ltd., Factory Mutual Insurance Company, Assicurazioni Generali S.p.A., The Hartford Financial Services Group Inc., Liberty Mutual Group Inc., Lloyd's Corp., Munich Reinsurance Company, Sompo International Holdings Ltd., Swiss Re Ltd., Tokio Marine Holdings Inc., XL Catlin Inc.

Asia-Pacific was the largest region in the commercial insurance market in 2025. The regions covered in the commercial insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the commercial insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The commercial insurance market includes revenues earned by entities by providing services such as insurance, consultation, and claim settlement. 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.

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