Commercial Insurance Market Scope and Key Players Analysis by 2031
Commercial Insurance Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 870.2 Billion |
| Market Size by 2031 | US$ 1517.7 Billion |
| Global CAGR (2024 - 2031) | 7.2% |
| Historical Data | 2022-2024 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Industry Vertical
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The "Commercial Insurance Market Analysis" was carried out based on type, distribution channel, enterprise size, industry vertical, and geography. Based on type, the market is segmented into commercial motor insurance, commercial property insurance, liability insurance, marine insurance, and others. Based on distribution channel, the market is segmented into agents & brokers, direct response, and others. Based on enterprise size, the market is segmented into large enterprises and SMEs. Based on industry vertical, the market is segmented into manufacturing, construction, IT & telecom, healthcare, energy & utilities, transportation & logistics, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Commercial Insurance
Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the commercial insurance market. A few recent key market developments are listed below:
- In April 2023, American International Group Inc. (AIG) and Stone Point reached a definitive agreement to establish a Managing General Agency (MG) focused on serving the high-net-worth market. Stone Point, a private equity firm specializing in global financial services investments, will partner with AIG to leverage its expertise and enhance product offerings for the high and ultra-high-net-worth segments. This strategic collaboration will enable AIG to capitalize on the strengths of this new venture and deliver superior solutions tailored to meet the unique needs of affluent individuals and families.
[Source: American International Group Inc. (AIG), Company Website]
- In December 2023, Aon plc, a prominent global professional services firm, has recently announced the signing of a definitive agreement to acquire NFP, a leading middle-market provider of property and casualty brokerage, benefits consulting, wealth management, and retirement plan advisory services. The acquisition will be made from funds associated with NFP's main capital sponsor, Madison Dearborn Partners (MDP), and funds affiliated with HPS Investment Partners.
[Source: Aon plc, Company Website]
Commercial Insurance
Market Report Coverage & Deliverables
The market report on “Commercial Insurance Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, recent developments.
- Detailed company profiles.
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