Global SME Insurance Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global SME Insurance Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Insurance means that the insured pays insurance premiums to the insurer in accordance with the contract, and the insurer shall be liable for indemnifying the insurance money for property losses caused by the occurrence of possible accidents as stipulated in the contract. Insurance is a means of risk management for policyholders in society. Strictly speaking, insurance is only a contractual act between policyholder and insurer. SME Insurance refers to the insurance specially provided for small and medium enterprises.

Market Overview:

The latest research study on the global SME Insurance market finds that the global SME Insurance market reached a value of USD 333337.03 million in 2022. It’s expected that the market will achieve USD 453963.39 million by 2028, exhibiting a CAGR of 5.28% during the forecast period.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

AXA is one of the major players operating in the SME Insurance market, holding a share of 2.41% in 2021.

Axa is a French multinational insurance firm. The head office is in the 8th arrondissement of Paris. It also provides investment management and other financial services.

Allianz Global Corporate & Specialty (AGCS) is a corporate insurance carrier and a key business unit of Allianz Group. The company provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.

Segmentation Overview:

Among different product types, Insurance for 50-249 Employees segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Broker segment occupied the biggest share from 2018 to 2022.

Key Companies in the global SME Insurance market covered in Chapter 3:

CPIC
Hanover Insurance
AXA
AIA
Chubb
Assurant
Nationwide
Mapfre
RenaissanceRe Holdings
Tokio Marine
Manulife
Aviva plc
Allianz
Liberty Mutual
Berkshire Hathaway
Munich Re
China Life
Ping An Insurance
Hudson
Sompo Japan Nipponkoa
PICC
Zurich
AIG

In Chapter 4 and Chapter 14.2, on the basis of types, the SME Insurance market from 2018 to 2029 is primarily split into:

Insurance for Non-employing
Insurance for 1-9 Employees
Insurance for 10-49 Employees
Insurance for 50-249 Employees

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the SME Insurance market from 2018 to 2029 covers:

Agency
Broker
Bancassurance
Direct Writing

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)