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Property/Casualty Insurance Carriers

  • ID: 4035509
  • Report
  • March 2021
  • Region: United States
  • 10 pages
  • First Research
Brief Excerpt from Industry Overview Chapter:

Companies in this industry underwrite insurance policies such as homeowners and automotive insurance to protect consumers and businesses against loss and liability. Major companies include Nationwide Mutual, State Farm and the property/casualty arms of AIG and The Hartford Financial Services Group (all based in the US), and Allianz (Germany), AXA (France), PICC (China), Tokio Marine (Japan), and Zurich Insurance (Switzerland).

Competitive Landscape

Demand is driven by demographics, consumer spending, and commercial transactions, as well as by legal or financial requirements affecting customers. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future claim payments and maintain adequate reserves. Large companies benefit from economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. The US industry is highly concentrated: the 50 largest firms account for more than 80% of revenue.

Products, Operations & Technology

Major products include motor vehicle insurance, home and other property insurance, and general liability insurance.
Note: Product cover images may vary from those shown
  • Industry Overview
  • Quarterly Industry Update
  • Business Challenges
  • Business Trends
  • Industry Opportunities
  • Call Preparation Questions
  • Financial Information
  • Industry Forecast
  • Web Links and Acronyms
Note: Product cover images may vary from those shown
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