Insurance (Providers, Brokers and Re-Insurers) Global Market Report 2022

May 2022 •
175 pages •
Report ID: 6280277 •
Format: PDF

Summary
Table of contents

Major players in the insurance (providers, brokers, and re-insurers) market are Unitedhealth Group, AXA, Munich Re, Allianz, and Generali.

The global insurance (providers, brokers and re-insurers) market is expected to grow from $6,008.64 billion in 2021 to $6,440.96 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The market is expected to grow to $8,036.89 billion in 2026 at a compound annual growth rate (CAGR) of 5.7%.

The insurance market consists of sales of insurance by entities (organizations, sole traders, and partnerships) that engage in insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage, and reinsurance.The insurance industry is categorized based on 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 based on 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 as well as the fees or commissions paid to brokers.

The main types of insurance (providers, brokers, and re-insurers) are insurance providers, insurance brokers, and agents, reinsurance providers.Reinsurance providers are businesses that provide insurance to other businesses.

In other words, reinsurance companies are businesses that accept insurance liabilities from other businesses. The services are provided through online and offline modes and are used by corporate and individual end-users.

The global payments industry has witnessed a rapid increase in the adoption of EMV technology.This growth is driven by a higher level of data security offered by EMV chips and PIN cards as compared to traditional magnetic stripe cards.

EMV is a security standard for various payment cards including debit, credit, charge, and prepaid cards.The chip carries data of the cardholder and the account, which is protected using both hardware and software security measures.

According to Thales Group, a France-based manufacturer of electrical systems, in 2020, 66.4% of all payment cards issued worldwide were EMV chip-based. From June 2019 to June 2021, MV card-present transactions climbed by 14.2%, from 67.84% to 77.52%.

North America was the largest region in the insurance (providers, brokers, and re-insurers) market in 2021.Asia Pacific was the second largest region in the global insurance (providers, brokers, and re-insurers) market.

The regions covered in this 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 Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

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