North America Specialty Insurance Market Size, Share & Industry Trends Analysis Report By End User (Business, and Individuals), By Distribution Channel (Brokers, and Non-brokers), By Type, By Country and Growth Forecast, 2022 - 2028
The North America Specialty Insurance Market would witness market growth of 10.0% CAGR during the forecast period (2022-2028).
Specialty insurance provides a broad range of coverage options with tremendous flexibility concerning the policy duration, policy term, and coverages, significantly increasing the specialty insurance market's growth. Throughout the projected period, the market expansion is anticipated to be driven by a rising need for specialty insurance between Program Administrators (PAs), one of the major vendors of specialty insurance products.
Since these programs offer a comprehensive and tailored design to efficiently meet the needs of company segments with distinct risk profiles, the industry has seen a rise in demand for expert knowledge in specialty insurance products. In addition, due to PAs' extensive knowledge of the target market exposure, these administrators perform as specialized experts. As a result, administrators' knowledge is increasingly relied upon by policyholders, specialty insurers, and brokers to offer their clients specific specialist coverages.
An effective and convenient transportation system is crucial for connecting people and promoting economic activity in Canada because of its large landmass and widely distributed population. The multi-modal transportation network in Canada comprises numerous critical resources and networks that connect all of the country's regions. Transportation is crucial in both Canadians' daily lives and the country's economy. It connects people to jobs, gets goods to consumers, links locales and communities to one another and worldwide markets, and maintains and draws international value chains, which are the foundation of both international and domestic trade. Similarly, other industries are demanding specialty risk coverage. Hence, the region presents lucrative growth opportunities for the market.
The US market dominated the North America Specialty Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $43,873.4 million by 2028. The Canada market is poised to grow at a CAGR of 12.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.5% during (2022 - 2028).
Based on End User, the market is segmented into Business, and Individuals. Based on Distribution Channel, the market is segmented into Brokers, and Non-brokers. Based on Type, the market is segmented into Marine, Aviation & Transport (MAT) Insurance, Political Risk & Credit Insurance, Entertainment Insurance, Art Insurance, Livestock & Aquaculture Insurance, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tokio Marine Holdings, Inc., Allianz Trade (Allianz Group), AXA SA, Chubb Limited, Zurich Insurance Group Ltd., Berkshire Hathaway, Inc., Assicurazioni Generali SpA, Munich Re Group, American International Group, Inc. (AIG), and PICC Property and Casualty Company Limited.
Scope of the Study
Market Segments covered in the Report:
By End User
- Business
- Individuals
- Brokers
- Non-brokers
- Marine, Aviation & Transport (MAT) Insurance
- Political Risk & Credit Insurance
- Entertainment Insurance
- Art Insurance
- Livestock & Aquaculture Insurance
- Others
- US
- Canada
- Mexico
- Rest of North America
- Tokio Marine Holdings, Inc.
- Allianz Trade (Allianz Group)
- AXA SA
- Chubb Limited
- Zurich Insurance Group Ltd.
- Berkshire Hathaway, Inc.
- Assicurazioni Generali SpA
- Munich Re Group
- American International Group, Inc. (AIG)
- PICC Property and Casualty Company Limited
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Specialty Insurance Market, by End User
- 1.4.2 North America Specialty Insurance Market, by Distribution Channel
- 1.4.3 North America Specialty Insurance Market, by Type
- 1.4.4 North America Specialty Insurance Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market composition & scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Competition Analysis - Global
- 3.1 KBV Cardinal Matrix
- 3.2 Recent Industry Wide Strategic Developments
- 3.2.1 Partnerships, Collaborations and Agreements
- 3.2.2 Product Launches and Product Expansions
- 3.2.3 Acquisition and Mergers
- 3.2.4 Geographical Expansions
- 3.3 Top Winning Strategies
- 3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
- Chapter 4. North America Specialty Insurance Market by End User
- 4.1 North America Business Market by Country
- 4.2 North America Individuals Market by Country
- Chapter 5. North America Specialty Insurance Market by Distribution Channel
- 5.1 North America Brokers Market by Country
- 5.2 North America Non-brokers Market by Country
- Chapter 6. North America Specialty Insurance Market by Type
- 6.1 North America Marine, Aviation & Transport (MAT) Insurance Market by Country
- 6.2 North America Political Risk & Credit Insurance Market by Country
- 6.3 North America Entertainment Insurance Market by Country
- 6.4 North America Art Insurance Market by Country
- 6.5 North America Livestock & Aquaculture Insurance Market by Country
- 6.6 North America Others Market by Country
- Chapter 7. North America Specialty Insurance Market by Country
- 7.1 US Specialty Insurance Market
- 7.1.1 US Specialty Insurance Market by End User
- 7.1.2 US Specialty Insurance Market by Distribution Channel
- 7.1.3 US Specialty Insurance Market by Type
- 7.2 Canada Specialty Insurance Market
- 7.2.1 Canada Specialty Insurance Market by End User
- 7.2.2 Canada Specialty Insurance Market by Distribution Channel
- 7.2.3 Canada Specialty Insurance Market by Type
- 7.3 Mexico Specialty Insurance Market
- 7.3.1 Mexico Specialty Insurance Market by End User
- 7.3.2 Mexico Specialty Insurance Market by Distribution Channel
- 7.3.3 Mexico Specialty Insurance Market by Type
- 7.4 Rest of North America Specialty Insurance Market
- 7.4.1 Rest of North America Specialty Insurance Market by End User
- 7.4.2 Rest of North America Specialty Insurance Market by Distribution Channel
- 7.4.3 Rest of North America Specialty Insurance Market by Type
- Chapter 8. Company Profiles
- 8.1 Tokio Marine Holdings, Inc.
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Recent strategies and developments:
- 8.1.4.1 Partnerships, Collaborations, and Agreements:
- 8.1.4.2 Product Launches and Product Expansions:
- 8.1.4.3 Acquisition and Mergers:
- 8.2 Allianz Trade (Allianz Group)
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental Analysis
- 8.2.4 Recent strategies and developments:
- 8.2.4.1 Partnerships, Collaborations, and Agreements:
- 8.3 AXA SA
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Recent strategies and developments:
- 8.3.4.1 Partnerships, Collaborations, and Agreements:
- 8.3.4.2 Acquisition and Mergers:
- 8.4 Chubb Limited
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Recent strategies and developments:
- 8.4.4.1 Acquisition and Mergers:
- 8.5 Zurich Insurance Group Ltd.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Recent strategies and developments:
- 8.5.3.1 Partnerships, Collaborations, and Agreements:
- 8.5.3.2 Product Launches and Product Expansions:
- 8.5.3.3 Acquisition and Mergers:
- 8.6 Berkshire Hathaway, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Recent strategies and developments:
- 8.6.4.1 Partnerships, Collaborations, and Agreements:
- 8.6.4.2 Product Launches and Product Expansions:
- 8.6.4.3 Geographical Expansions:
- 8.7 Assicurazioni Generali SpA
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Recent strategies and developments:
- 8.7.3.1 Partnerships, Collaborations, and Agreements:
- 8.7.3.2 Acquisition and Mergers:
- 8.8 Munich Re Group
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Regional Analysis
- 8.8.4 Recent strategies and developments:
- 8.8.4.1 Acquisition and Mergers:
- 8.9 American International Group, Inc. (AIG)
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Regional Analysis
- 8.9.4 Recent strategies and developments:
- 8.9.4.1 Acquisition and Mergers:
- 8.10. PICC Property and Casualty Company Limited
- 8.10.1 Company Overview
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook