The global property and casualty insurance market is expected to reach an estimated US$1,624billion in 2017 with a CAGR of 3.1% over the next five years (2012-2017).An increase in sales of motor vehicles and overall business growth in gulf markets due to strong growth in Saudi Arabia and UAE are anticipated to boost the industry globally.
Lucintel, a leading global management consulting and market research firm, has analyzed the global property and casualty insurance industry and presents its findings in “Global Property and Casualty Insurance Industry 2012-2017:Trend, Profit, and Forecast Analysis.”
The property and casualty insurance industry is highly fragmented and includes segments such as motor vehicle insurance, property insurance, liability, and accident insurance. North America dominates this industry. A combination of factors such as demographic condition, interest rate fluctuation, catastrophic events, governmental regulations, and economic growth are seen to impact the industry dynamics significantly.
Lucintel’s research indicates that the revenue of the industry grew during 2010-2011 as the underwriting results remained flat due to competitive pricing and inadequate rates in many market segments. The low interest rates made it difficult to generate adequate returns from investment activities in 2011.
Per capita income and GDP is increasing at a rapid pace, especially in emerging economies such as China, India, Mexico, and South Africa. Consumers tend to purchase more insurance in countries exhibiting a high cost of living, largely because property in such locations tends to be more highly valued. The European motor vehicle insurers are significantly exposed to the European sovereign debt crisis with impairments and lending restrictions causing ripple effects in the asset classes. Frequent occurrence of natural catastrophic events and claims thereafter are the significant challenges for the insurers of global property and casualty insurance.
This study is intended to provide concise overview of the global property and casualty insurance industry. The report tracks one market segment for four regions – thus it tracks four segments of the property and casualty insurance industry.
This comprehensive guide from Lucintel provides readers with valuable information and the tools needed to successfully drive critical business decisions with a thorough understanding of the market’s potential. This report will save Lucintel clients hundreds of hours in personal research time on a global market and it offers significant benefits in expanding business opportunities throughout the global property and casualty insurance industry analysis. In a fast-paced ever-changing world, business leaders need every advantage available to them in a timely manner to drive change in the market and to stay ahead of their competition. This report provides business leaders with a keen advantage in this regard by making them aware of emerging trends and demand requirements on an annual basis.
To make any investment or strategic decision, you need adequate and timely information. This market report fulfills this core need. Some of the features of this market report are:
• Industry size estimates in terms of (US $) value by regions and by segments
• Global property and casualty insurance industry analysis annual trend (2006-2011) and forecast (2012-2017)
• Porter’s Five Force analysis
• New product launch and merger and acquisition activity in global property and casualty insurance industry analysis
• Quarterly demand trend (Q1 2010-Q4 2011)and forecast analysis (Q1 2012 – Q4 2013) for global property and casualty insurance industry analysis
• Gross and net profit trends in the global property and casualty insurance industry analysis
• Cost structure trend in the global as well as regional property and casualty insurance industry analysis
• More than 44 valuable figures/charts and 10 tables are provided in this report