20th June 2023: Global Cyber Insurance
By the end of 2022, more than 220 insurance groups around the world were underwriting cyber risks with the top 100 of these taking almost 98% of global GDPW
According to Insuramore's global rankings, cyber insurance gross direct premiums written (GDPW) had a value of around USD 13.5 billion in 2022, rising towards USD 14 billion if captive insurers are also included, and with new competitors likely to cause the worldwide market to fragment further in 2023. Read the full press release here.
13th June 2023: Global MGAs / MGUs
In 2022, revenues earned globally by MGA, MGU and cover-holder groups increased by around 19%, substantially outgrowing the worldwide insurance broking market
According to an updated ranking and analysis completed by Insuramore, the value of revenues earned worldwide by MGAs, MGUs and cover-holder groups (a.k.a. delegated underwriting authority / underwriting agency groups) was around USD 17.3 billion in 2022. Read the full press release here.
6th June 2023: Global Insurance Brokers
Worldwide, total revenues earned from insurance broking activity were worth around USD 151.4 billion in 2022
According to Insuramore’s global rankings, the world’s top 20 insurance broking groups accounted for just over a half of global insurance broking revenues worth approximately USD 151.4 billion in 2022, and the top 300 for well over 80%. Read the full press release here.
29th September 2022: Global Auto (Motor) Insurance
Challengers, including both digital specialists and vehicle manufacturer brands, have the potential to disrupt incumbents in the global auto insurance market
According to Insuramore's global ranking, Progressive is now the world leader by auto insurance GDPW, followed by State Farm, PICC, Berkshire Hathaway Insurance and Ping An. Read the full press release here.
20th September 2022: Global Commercial P&C (Non-Life) Insurance
In a market with GDPW (gross direct premiums written) set to exceed USD 1 trillion in 2022, the combined global share of the top 20 groups remains steady at just over 41%
According to Insuramore's global ranking, and led in descending order by Allianz, AXA, PICC, Zurich and Chubb, 145 insurer groups had commercial P&C (non-life) GDPW of more than USD 1 billion in 2021. Read the full press release here.
28th April 2022: Global Insurance Marketplaces
The top 100 groups operating insurance marketplaces accounted for around 97.6% of total revenues generated globally from this activity in 2021
According to Insuramore's global rankings, revenues earned worldwide from insurance marketplace (comparison site / aggregator) activity amounted to a value of approximately USD 6.74 billion in 2021 albeit significant question marks hang over its future trajectory. Read the full press release here.
19th October 2021: Global Life, Health and P&C (Non-Life) Insurance
The combined share of direct business of the top 20 insurer groups in the global market rose slightly in 2020 relative to the previous year
According to Insuramore's global rankings, the leading 20 insurer groups accounted for a combined 27.9% of total direct business worldwide in 2020, itself worth just over USD 6.4 trillion, up slightly from an equivalent figure of 26.8% for the top 20 groups in the previous year. Read the full press release here.
12th October 2021: Global P&C (Non-Life) Insurance Segments
In 2020, State Farm had a clear lead over PICC and Allianz in the global market for P&C (non-life) insurance
According to Insuramore’s global rankings, the top ten P&C (non-life) insurer groups accounted for 26% of total P&C gross direct premiums written worldwide in 2020. In descending order, the leading five were State Farm, PICC, Allianz, AXA and Berkshire Hathaway Insurance. Read the full press release here.
7th October 2021: Global Bancassurance Groups
Bancassurance groups accounted for over 8% of the value of the global insurance market in 2020
According to Insuramore’s global rankings, and with a combined total of USD 535 billion, the top 100 insurers owned by banking or postal service groups accounted for 8.3% of gross direct premiums written and related inflows worldwide across all types of insurance (i.e. life / annuity, health and P&C / non-life) in 2020. Read the full press release here.