United States Life and Non-Life Insurance Market Report 2023: Growing Insurtech in the U.S. is Driving the Market
Life Non Life Insurance Market In Usa Share Of Insurtech Funding Transactions Worldwide From 2012 To Q3 2021 By Investment Stage
Dublin, June 13, 2023 (GLOBE NEWSWIRE) — The “United States Life and Non-Life Insurance Market 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
Lower catastrophic risks improved commercial and personal car markets, and improved underwriting discipline have all contributed to rate rises over the past several years. Additionally, these elements have contributed to the US property and casualty insurance industry’s outstanding underwriting success.
Due to an increase in net losses and LAE (loss adjustment expenses) that was more than the increase in net received premiums, the sector had an underwriting benefit of USD 6.5 billion, which is significantly less than the gain of USD 7 billion in the same period the previous year. The benefit of underwriting resulted in a net profit of USD 34.8 billion when combined with successful investment outcomes.
United States Life and Non-Life Insurance Market Trends
Growing Insurtech in the United States is Driving the Market
Although the United States has historically dominated insurtech investment, a shift is gradually coming. 46% of all insurance transactions in the United States took place in Q3 2021, a 4%-point increase from the previous 2 years, demonstrating the growing importance of investment centers outside the country. There were 11 deals in the United Kingdom and six in China, whereas Lebanon registered its first insurance deal, since 2017. Lemonade, a US renters and homeowners’ insurance startup, was priced at a pre-money valuation of over USD 2 billion, after raising USD 300 million from Allianz X, General Catalyst, Google Ventures, OurCrowd, Softbank Group, and Thrive Capital.
Increase in Merger and Acquisition Activities
The value of merger and acquisition (M&A) deals involving American-based targets increased twofold in 2021 compared to the previous year. Deals involving mergers and acquisitions were worth 1.3 trillion dollars in 2020 and 2.6 trillion dollars in 2021. Tens of thousands of transactions take place in the merger and acquisition business in the US every year. The value of these transactions exceeds one trillion dollars in a healthy economy.
By combining their efforts, businesses can become more effective by utilizing economies of size and scope. North American merger and acquisition (M&A) transactions made up around two thirds of the total value of worldwide M&A transactions in the first five months of 2021. European and Asia-Pacific deals normally made up around half of the overall deal value over the previous ten years, but that percentage dropped to about 30% in the early twenty-first century.
United States Life and Non-Life Insurance Industry Overview
The report covers the major players operating in the life and non-life insurance market in the United States. The market is fragmented, and it is expected to grow during the forecast period, due to adoption of insurtech is increasing in the sector, along with several merger and acquisition activities and other factors.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
4.5 Insights on Various Regulatory Trends Shaping the Market
4.6 Insights on Impact of Technology in the Market
4.7 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Insurance type
5.1.1 Life Insurance
5.1.1.1 Individual
5.1.1.2 Group
5.1.2 Non-life Insurance
5.1.2.1 Home
5.1.2.2 Motor
5.1.2.3 Other Non-life Insurances
5.2 By Distribution Channel
5.2.1 Direct
5.2.2 Agency
5.2.3 Banks
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
- Massachusetts Mutual Life Insurance Company
- UnitedHealth Group Incorporated
- Berkshire Hathaway Inc.
- Cigna Corporation
- Metlife Inc.
- Prudential Financial Inc.
- Aetna Inc.
- Centene Corporation
- American International Group Inc.
- State Farm
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/sp3nb8
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