United States of America (USA) Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The US non-life insurance market had total gross written premiums of $2,170.3 billion in 2022, representing a compound annual growth rate (CAGR) of 6.2% between 2017 and 2022.
- The property segment accounted for market's the largest proportion in 2022, with total gross written premiums of $807.9 billion, equivalent to 37.2% of the market's overall value.
- The performance of the market is forecast to decelerate, with an anticipated CAGR of 4% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $2,642.0billion by the end of 2027. The indispensability of certain types of non-life insurance in the US, such as motor insurance, has supported a stable, moderate pace of market growth and is less affected by mark-to-market changes in inflation.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in the United States
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in the United States
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the United States non-life insurance market with five year forecasts
- What was the size of the United States non-life insurance market by value in 2022?
- What will be the size of the United States non-life insurance market in 2027?
- What factors are affecting the strength of competition in the United States non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up the United State's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What has been the rationale behind recent M&A activity?
- 7.5. How has the COVID-19 outbreak impacted the market?
- 8 Company Profiles
- 8.1. Berkshire Hathaway Inc
- 8.2. Liberty Mutual Insurance Co
- 8.3. State Farm Mutual Automobile Insurance Co
- 8.4. The Progressive Corp
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: United States non-life insurance market value: $ billion, 2017-22(e)
- Table 2: United States non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- Table 3: United States non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: United States non–life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: United States non-life insurance market value forecast: $ billion, 2022-27
- Table 6: United States non-life insurance market share: % share, by value, 2022(e)
- Table 7: Berkshire Hathaway Inc: key facts
- Table 8: Berkshire Hathaway Inc: Annual Financial Ratios
- Table 9: Berkshire Hathaway Inc: Key Employees
- Table 10: Liberty Mutual Insurance Co: key facts
- Table 11: Liberty Mutual Insurance Co: Key Employees
- Table 12: Liberty Mutual Insurance Co: Key Employees Continued
- Table 13: State Farm Mutual Automobile Insurance Co: key facts
- Table 14: State Farm Mutual Automobile Insurance Co: Key Employees
- Table 15: The Progressive Corp: key facts
- Table 16: The Progressive Corp: Annual Financial Ratios
- Table 17: The Progressive Corp: Key Employees
- Table 18: The Progressive Corp: Key Employees Continued
- Table 19: United States size of population (million), 2018–22
- Table 20: United States gdp (constant 2005 prices, $ billion), 2018–22
- Table 21: United States gdp (current prices, $ billion), 2018–22
- Table 22: United States inflation, 2018–22
- Table 23: United States consumer price index (absolute), 2018–22
- Table 24: United States exchange rate, 2017–21
- List of Figures
- Figure 1: United States non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: United States non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: United States non–life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: United States non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in the United States, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in the United States, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in the United States, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in the United States, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in the United States, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in the United States, 2022
- Figure 11: United States non-life insurance market share: % share, by value, 2022(e)
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook