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Global Property Insurance Market in the Oil and Gas Sector 2016-2020

Global Property Insurance Market in the Oil and Gas Sector 2016-2020

About Global Property Insurance in the Oil and Gas Market

The global property insurance in the oil and gas market is reliant upon the state of the global oil and gas market. It also depends on the broader insurance market cycle. The recent retreat in the global crude oil and associated energy prices is expected to have a significant effect on the course followed by the market over the forecast period. The global property insurance in the oil and gas market was valued at $14.171 billion in the year 2015 and is anticipated to expand at a CAGR of 3.349% over the forecast period.

Technavio’s analysts forecast the global property insurance in oil and gas market to grow at a CAGR of 3.349% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global property insurance in oil and gas market for 2016-2020. To calculate the market size, the report considers the revenue generated by the demand for property insurance for its application by end-users in each region and their corresponding key countries.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Property Insurance in Oil and Gas Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • American International Group
  • Allianz
  • Willis-Tower Watsons
  • Marsh
  • Aon
Other prominent vendors
  • XL Caitlin
  • Liberty Mutual
  • Intact Insurance
  • Travelers
  • Cravens Warren
  • ACE
  • Empire Company
  • Jardine Lloyd Thompson
  • Heirs Insurance Brokers
  • AON Benfield
  • Osprey Insurance Brokers
  • Paragon Insurance
  • Starr Tech
Market driver
  • Need for hedging expensive oil and gas assets
  • For a full, detailed list, view our report
Market challenge
  • Effects of investment cuts in oil and gas industry
  • For a full, detailed list, view our report
Market trend
  • Emergence of engineering services
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Property Insurance in Oil and Gas Market 2016-2020

Technavio recognizes the following companies as the key players in the global property insurance in oil and gas market: American International Group, Allianz, Willis-Tower Watsons, Marsh, and Aon.

Other Prominent Vendors in the market are: XL Caitlin, Liberty Mutual, Intact Insurance, Travelers, Cravens Warren, ACE, Empire Company, Jardine Lloyd Thompson, Heirs Insurance Brokers, AON Benfield, Osprey Insurance Brokers, Paragon Insurance, and Starr Tech.

Commenting on the report, an analyst from Technavio’s team said: “In the property insurance domain, oil and gas or otherwise, the rise in the number of business interruption claims is one of the most evident trends that has emerged over the last few years. This particular claim type is seeing an increased share in the overall loss. In the oil and gas domain, the energy players are purchasing an increasing number of BI (business interruption) covers as refining and processing margins maintain their healthy levels in the US.”

According to the report, enforcement of strict regulations will be a key driver for market growth. One of the inherent characteristics of the insurance market pertains to the immediate use of the policy and the premiums. In the oil and gas industry, the sum insured and the related premium are pretty high. The high levels of risks associated with the operations also add to the increase in the premiums paid for covers. As the insurance premiums rise in any particular year, it has an effect on the profit margins of the vendors. This reason has forced, over the years, many smaller oil and gas companies to forego the insurance cover costs.

Further, the report states that one of the challenges for the market will be complexities associated with evolving technology. As with any industry, the property insurance in the oil and gas business is deeply affected by the changing contours of the various operations and the technology. Thus, employed. The insurance business is based on the insurance underwriter's perception of the risks associated with the industry. The key ingredient in the building up of this perception is based on deep understanding of the technology and years of experience. As the oil and gas operations move into newer avenues and employ radically new technologies, many seasoned underwriters are at a loss for words. This has affected the operation models of many brokers and insurers in the oil and gas domain.



Companies Mentioned

American International Group, Allianz, Willis-Tower Watsons, Marsh, Aon,XL Caitlin, Liberty Mutual, Intact Insurance, Travelers, Cravens Warren, ACE, Empire Company, Jardine Lloyd Thompson, Heirs Insurance Brokers, AON Benfield, Osprey Insurance Brokers, Paragon Insurance, Starr Tech.

  • Executive summary
  • Scope of the report
    • Market overview
      • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global property insurance in oil and gas market
    • Market size and forecast
      • Table Global property insurance in oil and gas market 2016-2020 by revenues ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by sector
    • Global property insurance in oil and gas market by sector
      • Table Global property insurance in oil and gas market by sector 2015-2020 (%)
      • Table Global property insurance in oil and gas market by sector 2015-2020 ($ billions)
      • Table Global property insurance in oil and gas by upstream sector 2015-2020 ($ billions)
      • Table Global property insurance in oil and gas by midstream sector 2015-2020 ($ billions)
      • Table Global property insurance in oil and gas by downstream sector 2015-2020 ($ billions)
  • Geographical segmentation
    • Global property insurance in oil and gas market 2016-2020 segmentation by geography
      • Table Global property insurance in oil and gas market shares by geography 2015-2020 (%)
      • Table Global property insurance in oil and gas market shares by geography 2015-2020 ($ Billions)
    • APAC
      • Table APAC property insurance in oil and gas market outlook 2015-2020 ($ billions)
    • Americas
      • Table Americas property insurance in oil and gas market outlook 2015-2020 ($ billions)
    • EMEA
      • Table EMEA property insurance in oil and gas market outlook 2016-2020 (in billion $)
  • Market drivers
    • Increased risks due to shifting bases of exploration
      • Table Shifting bases of hydrocarbon exploration
    • Enforcement of strict regulations
    • Need for hedging expensive oil and gas assets
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Effects of investment cuts in oil and gas industry
    • Complexities associated with evolving technology
    • Increased probability of catastrophic losses
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increase in business interruption claims
    • Emergence of engineering services
    • Increase in deductible limits
  • Vendor landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Insurance providers
      • American International Group
    • Allianz
    • Insurance brokers
      • Willis-Tower Watsons
    • Marsh
    • Aon
  • Appendix
    • List of abbreviations
  • Explore Technavio

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