Non-Life Insurance in the the US, Key Trends and Opportunities to 2017

Non-Life Insurance in the the US, Key Trends and Opportunities to 2017

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The US's non-life insurance segment is the largest and most mature non-life segment in the world. This segment accounted for 28.9% of the overall US insurance industry's written premium in 2012. The written premium value of the segment increased at a CAGR of 0.9% during the review period. The growth was partially as a consequence of the decline in unemployment, the recovering economic climate, investment returns and interest rates. The recovery of property prices, coupled with high passenger car sales in the domestic market, contributed to the marginal review-period growth of the non-life segment. The occurrence of a series of natural disasters in the US such as floods, Hurricane Gustav, Hurricane Ike, the New England Ice Storm in 2008, the northeast blizzards of 2010, the Alabama tornado outbreak, Mississippi floods, Hurricane Irene in 2011 and Hurricane Sandy in October 2012 negatively impacted the profitability of non-life insurance companies during the review period.

Report Highlights
  • The US non-life insurance segment is the largest in the world in terms of gross written premium
  • The US non-life segment accounted for 28.9%, in terms of written premium, of the country's overall insurance industry in 2012
  • The recovery in the housing market and increases in house prices supported the growth of the US non-life segment during the review period
  • The US motor insurance category, the largest in the US non-life segment in terms of written premium, is expected to be supported by growth in automotive sales
  • Rising house prices and the US's robust export growth is expected to encourage growth in the property, marine, aviation and transit categories over the forecast period
  • The US has the largest and most well-established non-life insurance segment in the world. The segment is highly competitive and fragmented with the 10 leading companies accounting for 48.0% of the market
Report Scope

This report provides a comprehensive analysis of the non-life insurance segment in the US:
  • It provides historical values for the US's non-life insurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
  • It offers a detailed analysis of the key categiories in the US's non-life insurance segment, along with market forecasts until 2017.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for non-life insurance products in the US.
  • Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in the US for the non-life insurance segment.
  • It provides a detailed analysis of the reinsurance segment in the US and its growth prospects.
  • It profiles the top non-life insurance companies in the US and outlines the key regulations affecting them.
Reasons to Get this Report
  • Make strategic business decisions using in-depth historic and forecast market data related to the US non-life insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the US non-life insurance segment
  • Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the US insurance industry and its impact on companies and the market's future

Table of Contents

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regional Market Dynamics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Non-Life Insurance Segment - Regional Benchmarking
4.1 Scale and Penetration
4.1.1 Total market gross written premium
4.1.2 Premium per capita
4.1.3 Non-life insurance penetration (as a percentage of GDP)
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
4.4 Distribution Channels
4.4.1 Direct marketing
4.4.2 Bancassurance
4.4.3 Agencies
5 US Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
6 Non-Life Insurance Outlook
6.1 Non-Life Insurance Growth Prospects by Category
6.1.1 Property insurance
6.1.2 Fire and allied perils insurance
6.1.3 Engineering insurance
6.1.4 Agriculture insurance
6.1.5 Other property insurance
6.2 Motor Insurance
6.2.1 Motor hull Insurance
6.2.2 Motor third-party Insurance
6.3 General Third-Party Insurance
6.4 Marine, Aviation and Transit Insurance
6.4.1 Marine insurance
6.4.2 Marine hull insurance
6.4.3 Marine third-party insurance
6.4.4 Aviation insurance
6.4.5 Transit insurance
7 Analysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-Commerce
7.5 Brokers
7.6 Other Channels
8 Regulatory Policies
9 Porter's Five Forces Analysis - The US Non-Life Insurance Segment
9.1 Bargaining Power of Suppliers: Low to Medium
9.2 Bargaining Power of Buyers: Medium
9.3 Barriers to Entry: Medium
9.4 Intensity of Rivalry: Medium to High
9.5 Threat of Substitutes: Low
10 Reinsurance Growth Dynamics and Challenges
10.1 Reinsurance Segment size, 2008-2017
10.2 Reinsurance Segment Size by Type of Insurance, 2008-2017
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the US Non-Life Insurance Segment
11.3 State Farm Mutual Automobile Insurance Company - Company Overview
11.3.1 State Farm Mutual Automobile Insurance Company - key facts
11.3.2 State Farm Mutual Automobile Insurance Company - key financials
11.4 Zurich Insurance Group - Company Overview
11.4.1 Zurich Insurance Group - key facts
11.4.2 Zurich Insurance Group - key financials
11.5 Liberty Mutual Group, Inc. - Company Overview
11.5.1 Liberty Mutual Group, Inc. - key facts
11.5.2 Liberty Mutual Group, Inc. - key financials
11.6 Allstate Insurance Company- Company Overview
11.6.1 Allstate Insurance Company- key facts
11.6.2 Allstate Insurance Company - key financials
11.7 American International Group, Inc. - Company Overview
11.7.1 American International Group, Inc. - key facts

Companies Mentioned:

State Farm Mutual Automobile Insurance Company
Zurich Insurance Group
Liberty Mutual Group, Inc.
Allstate Insurance Company
American International Group, Inc.
Travelers Companies Inc.
Berkshire Hathaway, Inc.
Nationwide Mutual Insurance Company
The Progressive Corporation
United Services Automobile Association