Global Non-Life or General Insurance Market showed constant growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ XX.XX over the forecast period. According to latest study conducted by our analysts and industry experts, global general insurance market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.

Non-life or general insurance is basically the insurance of property or goods that can be anything ranging from vehicles, furniture, building and others. The market for non-life or general insurance is growing rapidly due to the lucrative security options offered by non-life insurance policies.

Global Non-Life or General Insurance Market Size Analysis By Region 2017-2025

Market Dynamics

Global non-life or general insurance market was estimated to be around USD 1.28 trillion in the year 2017, and is expected to grow dynamically during the forecast period owing to rising awareness towards non-life insurance schemes that financially safeguards vehicles, property or health during the time of crisis. Rising governmental support to general insurance agencies and launch of programs to introduce the benefits of opting for non-life insurance policies for comprehensive coverage, healthcare coverage at minimal expenditure, and security of property is expected to boost the growth of non-life or general insurance market over the forecast period.

Rapid growth in Asia Pacific, especially in countries like China and India, where the insurance industry is one of the largest, is creating great scope for the growth of non-life or general insurance market. However, high premium payments, that needs to be paid by policyholder in some schemes such as property insurance of commercial vehicle insurance can hinder the growth of non-life or general insurance market during the upcoming years.

Segment Analysis 

Among application, personal insurance segment is expected to be leading the non-life insurance market, owing to rising population across the world. Rising knowledge of safeguarding property or vehicles through non-life insurance schemes will play major role in boosting the growth of the segment. Furthermore, ease of purchasing of insurance policies due to rapid penetration of digitalization in the insurance market can aid to the growth of the segment.

Among insurance type, vehicle insurance is expected to be the fastest growing segment, owing to rising automobile sale across major economies of the world, coupled with compulsion of buying insurance schemes for the newly bought vehicles. Wide range of benefits offered by several vehicle insurance policies such as collision protection, accident protection and others will further escalate the growth of the segment during the forecast period.

Objectives Of The Study

1. To forecast the market size of general insurance market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of general insurance market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of general insurance market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of general insurance market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the general insurance market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of non-life insurance or general insurance market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of non-life insurance or general insurance market commercially.

Regional Analysis of Non-Life Insurance or General Insurance Market

Asia Pacific is anticipated to be holding the major revenue share during the forecast period, owing to rising vehicle and property insurance market in the region, due to presence of a large population in countries such as China and India. Growing per capita income of people in Asia Pacific is also motivating them to secure their goods and properties by purchasing an insurance policy or scheme for them. Presence of large number of global market players in Asia Pacific is another reason for the growth of the region during the forecast period.

Key players operating in Global Non-Life Insurance or General Insurance Market

Major players operating in global non-life insurance or general insurance market include Gen Re, Pacific Prime, Bupa, Asertec S.A., Fubon, First Capital Insurance Limited, Claveseguros Proseguros Nacionales Cia., DKV, Ltda, Benefit Management Inc., and Seoul Guarantee Insurance (SGI).

Global Non-life Insurance or General Insurance Market Report Offer You!

Global Non-life Insurance or General Insurance Market Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.

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