United States Insurance Report Q2 2015 - New Market Research Report

From: Fast Market Research, Inc.
Published: Thu Apr 02 2015

We have a positive outlook for the US' overall insurance sector over the 2015-2019 period , and confirm steady growth in both the life and non-life segments. Consistently accounting for roughly 60% of the total premiums written, non-life insurance is set to drive the predominant share of the sector's overall growth, and will also slightly outpace the life segment. In particular, the non-life growth prospects are underpinned by ongoing economic recovery, relative absence of claims costs, as well as increased activity in particular sectors, including construction and pharmaceuticals. Overall, the US' insurance sector provides opportunities for future investment.

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The US' insurance sector is highly developed, with insurance providers in both the life and non-life segments expected to grow their written premiums at steady rates throughout our 2015-2019 forecast period. The most recent financial results reported by the major players in both segments, as well as their forward guidance, underscore this positive outlook. These leading firms will reap the benefits of a growing demand for insurance products by leveraging their access to capital, economies of scale, broad product portfolios, distribution channels, innovation capability, and brand recognition. In what follows, we discuss factors which underlie the positive outlook.

The life insurance segment will account for roughly 40% of total premiums written over the next five years, and is characterised by slightly lower growth prospects in comparison with non-life insurance. Nonetheless, life insurance is set to grow at a consistent pace, which we believe will be largely underpinned by new business potential of approximately USD800bn due to the closing of traditional pension schemes, as well as the estimated 35mn American households which are underinsured, and 44mn households which are currently not covered by life insurance at all. This life insurance gap is estimated by industry sources at...

The United States Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's United States Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the American insurance industry.

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