Non-Life Insurance in North America
Description
Non-Life>Insurance>in>North>America
Summary
>Non-Life>Insurance>in>North>America>industry>profile>provides>top-line>qualitative>and>quantitative>summary>information>including:>market>share,>market>size>(value>2019-24,>and>forecast>to>2029).>The>profile>also>contains>descriptions>of>the>leading>players>including>key>financial>metrics>and>analysis>of>competitive>pressures>within>the>market.
Key>Highlights
Summary
>Non-Life>Insurance>in>North>America>industry>profile>provides>top-line>qualitative>and>quantitative>summary>information>including:>market>share,>market>size>(value>2019-24,>and>forecast>to>2029).>The>profile>also>contains>descriptions>of>the>leading>players>including>key>financial>metrics>and>analysis>of>competitive>pressures>within>the>market.
Key>Highlights
- Non-life>insurance>is>typically>defined>as>any>insurance>not>determined>to>be>life>insurance.>It>includes>automobile>and>homeowners'>policies>and>provides>payments>depending>on>the>loss>from>a>particular>financial>event.
- The>North>American>non-life>insurance>market>recorded>gross>written>premiums>of>$2,450.7>billion>in>2024,>representing>a>compound>annual>growth>rate>(CAGR)>of>8.4%>between>2019>and>2024.
- The>motor>segment>accounted>for>the>market's>largest>proportion>in>2024,>with>total>gross>written>premiums>of>$452.6>billion,>equivalent>to>18.5%>of>the>market's>overall>value.
- In>2024,>the>North>American>non-life>insurance>market>recorded>an>annual>growth>of>6.6%.>The>growth>is>attributed>to>the>increasing>frequency>and>severity>of>natural>catastrophes,>including>wildfires>and>floods,>which>have>elevated>property>risk>exposure>and>forced>both>households>and>businesses>to>seek>broader>and>higher-value>coverage.>For>instance,>according>to>the>National>Interagency>Fire>Center>(NIFC),>the>US>experienced>61,685>wildfires>in>2024,>which>burned>8.6>million>acres.
- Save>time>carrying>out>entry-level>research>by>identifying>the>size,>growth,>major>segments,>and>leading>players>in>the>non-life>insurance>market>in>North>America
- Use>the>Five>Forces>analysis>to>determine>the>competitive>intensity>and>therefore>attractiveness>of>the>non-life>insurance>market>in>North>America
- 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>North>America>non-life>insurance>market>with>five>year>forecasts
- What>was>the>size>of>the>North>America>non-life>insurance>market>by>value>in>2024?
- What>will>be>the>size>of>the>North>America>non-life>insurance>market>in>2029?
- What>factors>are>affecting>the>strength>of>competition>in>the>North>America>non-life>insurance>market?
- How>has>the>market>performed>over>the>last>five>years?
- Who>are>the>top>competitors>in>North>America's>non-life>insurance>market?
Table of Contents
39 Pages
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. 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. Who are the leading players?
- 7.2. What are the strategies of the leading players?
- 7.3. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. State Farm Mutual Automobile Insurance Co
- 8.2. Berkshire Hathaway Inc
- 8.3. The Progressive Corp
- 8.4. Allstate Insurance Company
- 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: North America non-life insurance market value: $ billion, 2019-24
- Table 2: North America non-life insurance market category segmentation: % share, by value, 2019-24
- Table 3: North America non-life insurance market category segmentation: $ billion, 2019-24
- Table 4: North America non-life insurance market geography segmentation: $ billion, 2024
- Table 5: North America non-life insurance market value forecast: $ billion, 2024-29
- Table 6: State Farm Mutual Automobile Insurance Co: Key Facts
- Table 7: State Farm Mutual Automobile Insurance Co: Key Employees
- Table 8: Berkshire Hathaway Inc: Key Facts
- Table 9: Berkshire Hathaway Inc: Annual Financial Ratios
- Table 10: Berkshire Hathaway Inc: Key Employees
- Table 11: The Progressive Corp: Key Facts
- Table 12: The Progressive Corp: Annual Financial Ratios
- Table 13: The Progressive Corp: Key Employees
- Table 14: Allstate Insurance Company: Key Facts
- Table 15: North America Exchange Rate, 2019-24
- List of Figures
- Figure 1: North America non-life insurance market value: $ billion, 2019-24
- Figure 2: North America non-life insurance market category segmentation: $ billion, 2019-24
- Figure 3: North America non-life insurance market geography segmentation: % share, by value, 2024
- Figure 4: North America non-life insurance market value forecast: $ billion, 2024-29
- Figure 5: Forces driving competition in the non-life insurance market in North America, 2024
- Figure 6: Drivers of buyer power in the non-life insurance market in North America, 2024
- Figure 7: Drivers of supplier power in the non-life insurance market in North America, 2024
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in North America, 2024
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in North America, 2024
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in North America, 2024
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