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Motor Insurance Global Market Report 2024

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    Report

  • 175 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5790584
The motor insurance market size has grown strongly in recent years. It will grow from $805.91 billion in 2023 to $881.47 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth observed during the historical period can be attributed to factors such as the growth in vehicle ownership, regulatory mandates, urbanization, traffic density, and considerations for risk mitigation and financial security, along with lending and financing requirements.

The motor insurance market size is expected to see strong growth in the next few years. It will grow to $1261.92 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. Forecasted growth is fueled by technological integration in telematics, the rise of electric and autonomous vehicles, a focus on environmental sustainability, data analytics, and the shift towards on-demand and usage-based insurance. Key trends include emphasis on sustainability, biometric authentication, personalized premiums based on behavioral data, regulatory compliance, and customer-centric insurtech innovations.

The anticipated surge in the motor insurance market is attributed to the escalating number of automobiles on the road. As the prevalence of self-propelled vehicles such as cars, buses, and trucks continues to rise, there is a growing demand for auto insurance among individuals seeking financial protection. Motor insurance provides comprehensive coverage, encompassing benefits such as cost coverage for injuries, medical expenses, lost wages, vehicle repair, and property damage resulting from accidents. This heightened demand is exemplified by data from the National Transportation Statistics 2021 report by the U.S. Department of Transportation, revealing 113,461,353 registered vehicles in the USA in 2021, with 105,143,990 automobiles and 8,317,363 motorcycles in 2020. Furthermore, a November 2022 report from the UK-based Society of Motor Manufacturers and Traders (SMMT) indicates a 7.4% year-on-year increase in the UK's car production, reaching 69,524 units. In essence, the escalating number of automobiles on the road is a significant catalyst propelling the growth of the motor insurance market.

The anticipated growth in the motor insurance market is closely tied to the increasing occurrence of traffic accidents. Traffic accidents, involving collisions or incidents with vehicles on roads, often lead to property damage, injuries, or even fatalities. These events result from various factors such as human error, vehicle malfunctions, and adverse road or weather conditions. Significantly, traffic accidents serve as the foundation for insurance claims and coverage within the motor insurance sector. Motor insurance plays a vital role in providing financial protection for damages and injuries arising from these accidents, covering expenses such as vehicle repairs, medical bills, and liability costs. As illustrated by the UK Government's annual report on road casualties in June 2023, there were 1,633 reported fatalities in road collisions in Great Britain, indicating a 9% decrease from the previous year's figures. While there was a 2% decline in fatalities from 2019 to 2022, the report also highlights 29,742 killed or seriously injured (KSI) casualties, down 3% from 2019, and 135,480 casualties of all severities, reflecting a 12% decline from 2019. This data underscores the correlation between the rise in traffic accidents and the consequential growth in the motor insurance market.

The dominant trend in the motor insurance market revolves around technological advancements, with major companies actively integrating advanced solutions into their insurance operations to enhance their market positioning. A case in point is XA Group, a technology company based in Dubai, which introduced Addenda, a digital platform leveraging blockchain technology. Launched in September 2022, Addenda is designed to facilitate the reconciliation of motor vehicle recovery receivables for insurers. XA Group aims to optimize the platform by ensuring it effectively manages crucial touchpoints in the automotive claims value chain, fostering connectivity among insurers, brokers, repairers, and customers. The company's strategy involves integrating existing products into the Addenda platform to further enhance its capabilities. This reflects a broader industry shift toward leveraging technology to streamline processes and improve overall efficiency within the motor insurance sector.

Prominent companies in the motor insurance market are actively innovating by introducing products such as pay-per-mile car insurance, also known as usage-based insurance. This innovative model allows drivers to pay a low monthly base rate along with a per-mile rate for the distance they drive. This approach is specifically tailored to benefit low-mileage drivers, providing a cost-effective alternative for individuals who don't use their vehicles frequently. A noteworthy example is Qualitas Compania de Seguros, a Mexico-based auto insurance company. In April 2023, Qualitas implemented Octo's driving behavior analytics for its commercial fleet insurance. This utilization of technology enables fleet owners to track vehicles, offer customers precise logistics information, and improve driver safety by leveraging real-time telematics data. The adoption of usage-based insurance and the integration of driving behavior analytics reflect the industry's commitment to leveraging innovation for more personalized, efficient, and data-driven insurance solutions.

In January 2021, The Allstate Corporation, a prominent U.S.-based insurance company, successfully completed the acquisition of National General Holdings Corp for a total sum of $4 billion. This strategic transaction aligns with The Allstate Corporation's overarching goal of expanding its market share in personal lines insurance. National General Holdings Corp., a U.S.-based insurance firm specializing in the motor insurance market, now becomes an integral part of The Allstate Corporation's portfolio. Through this acquisition, The Allstate Corporation aims to enhance its competitive position and further solidify its presence in the personal lines insurance sector.

Major companies operating in the motor insurance market report are Berkshire Hathaway Inc., Ping An Insurance (Group) Company of China, Ltd., Allianz SE, AXA S.A., Generali Group, State Farm Mutual Automobile Insurance Company, The People's Insurance Company Group of China Limited, MetLife, Inc., China Pacific Insurance (Group) Co., Ltd., Prudential Financial, Inc., American International Group, Inc., Tokio Marine Holdings Inc., The Allstate Corporation, The Progressive Corporation, Nationwide Mutual Insurance Company, Zurich Insurance Group Ltd, Travelers Companies Inc., United Services Automobile Association, Government Employees Insurance Company, Aegon N.V., Aviva plc, Assicurazioni Generali S.p.A., American Family Insurance Group, Farmers Insurance Group of Companies, The New India Assurance Company Limited, Munich Reinsurance Company, Reliance General Insurance Company Limited, Universal Sompo General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Liberty Mutual Insurance Companies.

North America was the largest region in the motor insurance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global motor insurance market during the forecast period. The regions covered in the motor insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the motor insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The principal categories of motor insurance encompass treaty reinsurance and facultative reinsurance. Treaty reinsurance involves an insurance company purchasing coverage from another insurer, typically encompassing an entire policy grouping or a comprehensive motor insurance package. Various policy types fall under this umbrella, including liability insurance, comprehensive coverage, collision coverage, and personal injury protection. This form of reinsurance is instrumental in safeguarding both new and older vehicles, spanning a diverse range of vehicle types, such as passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). Treaty reinsurance provides a robust mechanism for automotive coverage across a spectrum of vehicles and associated risks.

The motor insurance market research report is one of a series of new reports that provides motor insurance market statistics, including motor insurance industry global market size, regional shares, competitors with a motor insurance market share, detailed motor insurance market segments, market trends and opportunities, and any further data you may need to thrive in the motor insurance industry. This motor insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The motor insurance market includes revenues earned by entities by providing fully comprehensive insurance, third-party insurance, and theft insurance. 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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Table of Contents

1. Executive Summary2. Motor Insurance Market Characteristics3. Motor Insurance Market Trends and Strategies
4. Motor Insurance Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Motor Insurance Market Size and Growth
5.1. Global Motor Insurance Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Motor Insurance Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Motor Insurance Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Motor Insurance Market Segmentation
6.1. Global Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Treaty Reinsurance
  • Facultative Reinsurance
6.2. Global Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Liability Insurance
  • Comprehensive Coverage
  • Collision Coverage
  • Personal Injury Protection
6.3. Global Motor Insurance Market, Segmentation by Vehicle Age, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • New Vehicles
  • Old Vehicles
6.4. Global Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)
7. Motor Insurance Market Regional and Country Analysis
7.1. Global Motor Insurance Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Motor Insurance Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Motor Insurance Market
8.1. Asia-Pacific Motor Insurance Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Motor Insurance Market
9.1. China Motor Insurance Market Overview
9.2. China Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Motor Insurance Market
10.1. India Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Motor Insurance Market
11.1. Japan Motor Insurance Market Overview
11.2. Japan Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Motor Insurance Market
12.1. Australia Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Motor Insurance Market
13.1. Indonesia Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Motor Insurance Market
14.1. South Korea Motor Insurance Market Overview
14.2. South Korea Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Motor Insurance Market
15.1. Western Europe Motor Insurance Market Overview
15.2. Western Europe Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Motor Insurance Market
16.1. UK Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Motor Insurance Market
17.1. Germany Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Motor Insurance Market
18.1. France Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Motor Insurance Market
19.1. Italy Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Motor Insurance Market
20.1. Spain Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Motor Insurance Market
21.1. Eastern Europe Motor Insurance Market Overview
21.2. Eastern Europe Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Motor Insurance Market
22.1. Russia Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Motor Insurance Market
23.1. North America Motor Insurance Market Overview
23.2. North America Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Motor Insurance Market
24.1. USA Motor Insurance Market Overview
24.2. USA Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Motor Insurance Market
25.1. Canada Motor Insurance Market Overview
25.2. Canada Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Motor Insurance Market
26.1. South America Motor Insurance Market Overview
26.2. South America Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Motor Insurance Market
27.1. Brazil Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Motor Insurance Market
28.1. Middle East Motor Insurance Market Overview
28.2. Middle East Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Motor Insurance Market
29.1. Africa Motor Insurance Market Overview
29.2. Africa Motor Insurance Market, Segmentation by Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Motor Insurance Market, Segmentation by Policy Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Motor Insurance Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Motor Insurance Market Competitive Landscape and Company Profiles
30.1. Motor Insurance Market Competitive Landscape
30.2. Motor Insurance Market Company Profiles
30.2.1. Berkshire Hathaway Inc.
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Ping An Insurance (Group) Company of China, Ltd.
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Allianz SE
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. AXA S.A.
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. Generali Group
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Motor Insurance Market Other Major and Innovative Companies
31.1. State Farm Mutual Automobile Insurance Company
31.2. The People's Insurance Company Group of China Limited
31.3. MetLife, Inc.
31.4. China Pacific Insurance (Group) Co., Ltd.
31.5. Prudential Financial, Inc.
31.6. American International Group, Inc.
31.7. Tokio Marine Holdings Inc.
31.8. The Allstate Corporation
31.9. The Progressive Corporation
31.10. Nationwide Mutual Insurance Company
31.11. Zurich Insurance Group Ltd
31.12. Travelers Companies Inc.
31.13. United Services Automobile Association
31.14. Government Employees Insurance Company
31.15. Aegon N.V.
32. Global Motor Insurance Market Competitive Benchmarking33. Global Motor Insurance Market Competitive Dashboard34. Key Mergers and Acquisitions in the Motor Insurance Market
35. Motor Insurance Market Future Outlook and Potential Analysis
35.1 Motor Insurance Market in 2028 - Countries Offering Most New Opportunities
35.2 Motor Insurance Market in 2028 - Segments Offering Most New Opportunities
35.3 Motor Insurance Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Motor Insurance Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on motor insurance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for motor insurance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Types: Treaty Reinsurance; Facultative Reinsurance
2) By Policy Type: Liability Insurance; Comprehensive Coverage; Collision Coverage; Personal Injury Protection
3) By Vehicle Age: New Vehicles; Old Vehicles
4) By Vehicle Type: Passenger Cars; Light Commercial Vehicles (LCV); Heavy Commercial Vehicles (HCV)

Key Companies Mentioned: Berkshire Hathaway Inc.; Ping An Insurance (Group) Company of China, Ltd.; Allianz SE; AXA S.A.; Generali Group

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

  • Berkshire Hathaway Inc.
  • Ping An Insurance (Group) Company of China, Ltd.
  • Allianz SE
  • AXA S.A.
  • Generali Group
  • State Farm Mutual Automobile Insurance Company
  • The People's Insurance Company Group of China Limited
  • MetLife, Inc.
  • China Pacific Insurance (Group) Co., Ltd.
  • Prudential Financial, Inc.
  • American International Group, Inc.
  • Tokio Marine Holdings Inc.
  • The Allstate Corporation
  • The Progressive Corporation
  • Nationwide Mutual Insurance Company
  • Zurich Insurance Group Ltd
  • Travelers Companies Inc.
  • United Services Automobile Association
  • Government Employees Insurance Company
  • Aegon N.V.
  • Aviva plc
  • Assicurazioni Generali S.p.A.
  • American Family Insurance Group
  • Farmers Insurance Group of Companies
  • The New India Assurance Company Limited
  • Munich Reinsurance Company
  • Reliance General Insurance Company Limited
  • Universal Sompo General Insurance Company Limited
  • HDFC ERGO General Insurance Company Limited
  • Liberty Mutual Insurance Companies

Methodology

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