An intensified focus on financial positions and net premium growth for liability insurance products have aided the Automobile Insurance industry in 2018. The beginning of the period presented the industry with the start of a price-hardening cycle, during which auto insurance prices increased in order to rebuild profit margins and excess capital reserves. The industry is likely to rotate into a softening price cycle over the five years to 2023 after experiencing a hardening price cycle during the majority of the prior period. This will lead to slower premium growth as operators lower premium prices to compete with one another to gain market share. However, continued improvements in the macroeconomic landscape are anticipated to benefit investment conditions for auto insurers.
This industry underwrites or assumes the risk and assigns premiums for auto insurance policies. Car insurance provides financial protection against physical damage to automobiles and bodily injuries resulting from traffic incidents. Automobile insurance can also protect against resulting liability.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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