Non-Life Insurance in the US, Key Trends and Opportunities to 2017

Published: Mar, 2014 | Pages: 240 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into the US non-life insurance segment, including:
The US non-life insurance segment's growth prospects by non-life insurance categories 
Key trends and drivers for the non-life insurance segment 
The various distribution channels in the US non-life insurance segment 
The detailed competitive landscape in the non-life insurance segment in the US
Regulatory framework of the US insurance industry
A description of the non-life reinsurance segment in the US
Porter's Five Forces analysis of the non-life insurance segment
A benchmarking section on the US life insurance segment in comparison with other countries with GWP more than US$150 billion 

Summary
The US's non-life insurance segment is the largest and most mature non-life segment in the world. This segment accounted for 28.9% of the overall US insurance industry's written premium in 2012. The written premium value of the segment increased at a CAGR of 0.9% during the review period. The growth was partially as a consequence of the decline in unemployment, the recovering economic climate, investment returns and interest rates. The recovery of property prices, coupled with high passenger car sales in the domestic market, contributed to the marginal review-period growth of the non-life segment. The occurrence of a series of natural disasters in the US such as floods, Hurricane Gustav, Hurricane Ike, the New England Ice Storm in 2008, the northeast blizzards of 2010, the Alabama tornado outbreak, Mississippi floods, Hurricane Irene in 2011 and Hurricane Sandy in October 2012 negatively impacted the profitability of non-life insurance companies during the review period. 
Scope
This report provides a comprehensive analysis of the non-life insurance segment in the US:
It provides historical values for the US's non-life insurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key categiories in the US's non-life insurance segment, along with market forecasts until 2017.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for non-life insurance products in the US.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in the US for the non-life insurance segment.
It provides a detailed analysis of the reinsurance segment in the US and its growth prospects.
It profiles the top non-life insurance companies in the US and outlines the key regulations affecting them. 
Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the US non-life insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the US non-life insurance segment
Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the US insurance industry and its impact on companies and the market's future 
Key Highlights
 The US non-life insurance segment is the largest in the world in terms of gross written premium
The US non-life segment accounted for 28.9%, in terms of written premium, of the country's overall insurance industry in 2012
The recovery in the housing market and increases in house prices supported the growth of the US non-life segment during the review period
The US motor insurance category, the largest in the US non-life segment in terms of written premium, is expected to be supported by growth in automotive sales
Rising house prices and the US's robust export growth is expected to encourage growth in the property, marine, aviation and transit categories over the forecast period
The US has the largest and most well-established non-life insurance segment in the world. The segment is highly competitive and fragmented with the 10 leading companies accounting for 48.0% of the market

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regiol Market Dymics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Non-Life Insurance Segment - Regiol Benchmarking
4.1 Scale and Penetration
4.1.1 Total market gross written premium
4.1.2 Premium per capita
4.1.3 Non-life insurance penetration (as a percentage of GDP)
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
4.4 Distribution Channels
4.4.1 Direct marketing
4.4.2 Bancassurance
4.4.3 Agencies
5 US Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
6 Non-Life Insurance Outlook
6.1 Non-Life Insurance Growth Prospects by Category
6.1.1 Property insurance
6.1.2 Fire and allied perils insurance
6.1.3 Engineering insurance
6.1.4 Agriculture insurance
6.1.5 Other property insurance
6.2 Motor Insurance
6.2.1 Motor hull Insurance
6.2.2 Motor third-party Insurance
6.3 General Third-Party Insurance
6.4 Marine, Aviation and Transit Insurance
6.4.1 Marine insurance
6.4.2 Marine hull insurance
6.4.3 Marine third-party insurance
6.4.4 Aviation insurance
6.4.5 Transit insurance
7 Alysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-Commerce
7.5 Brokers
7.6 Other Channels
8 Regulatory Policies
9 Porter's Five Forces Alysis - The US Non-Life Insurance Segment
9.1 Bargaining Power of Suppliers: Low to Medium
9.2 Bargaining Power of Buyers: Medium
9.3 Barriers to Entry: Medium
9.4 Intensity of Rivalry: Medium to High
9.5 Threat of Substitutes: Low
10 Reinsurance Growth Dymics and Challenges
10.1 Reinsurance Segment size, 2008-2017
10.2 Reinsurance Segment Size by Type of Insurance, 2008-2017
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the US Non-Life Insurance Segment
11.3 State Farm Mutual Automobile Insurance Company - Company Overview
11.3.1 State Farm Mutual Automobile Insurance Company - key facts
11.3.2 State Farm Mutual Automobile Insurance Company - key fincials
11.4 Zurich Insurance Group - Company Overview
11.4.1 Zurich Insurance Group - key facts
11.4.2 Zurich Insurance Group - key fincials
11.5 Liberty Mutual Group, Inc. - Company Overview
11.5.1 Liberty Mutual Group, Inc. - key facts
11.5.2 Liberty Mutual Group, Inc. - key fincials
11.6 Allstate Insurance Company- Company Overview
11.6.1 Allstate Insurance Company- key facts
11.6.2 Allstate Insurance Company - key fincials
11.7 American Intertiol Group, Inc. - Company Overview
11.7.1 American Intertiol Group, Inc. - key facts
11.7.2 American Intertiol Group, Inc. - key fincials
11.8 Travelers Companies Inc. - Company Overview
11.8.1 Travelers Companies Inc. - key facts
11.8.2 Travelers Companies Inc. - key fincials
11.9 Berkshire Hathaway, Inc., - Company Overview
11.9.1 Berkshire Hathaway, Inc., - key facts
11.9.2 Berkshire Hathaway, Inc., - key fincials
11.1 tionwide Mutual Insurance Company - Company Overview
11.10.1 tionwide Mutual Insurance Company - key facts
11.10.2 tionwide Mutual Insurance Company - key fincials
11.11 The Progressive Corporation - Company Overview
11.11.1 The Progressive Corporation - key facts
11.11.2 The Progressive Corporation - key fincials
11.12 United Services Automobile Association - Company Overview
11.12.1 United Services Automobile Association - key facts
11.12.2 United Services Automobile Association - key fincials
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - New York Stock Exchange (NYSE)
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 Inflation rate
12.2.6 Merchandise exports as a percentage of GDP
12.2.7 Merchandise imports as a percentage of GDP
12.2.8 Merchandise exports growth
12.2.9 Merchandise imports growth
12.3 Infrastructure
12.3.1 Commercial vehicles exports - total value
12.3.2 Commercial vehicles imports - total value
12.3.3 Automotive exports - total value
12.3.4 Automotive imports - total value
12.3.5 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Household consumption expenditure (US$)
12.5.2 Total population
12.5.3 Urban and rural populations
12.5.4 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: US Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 3: US Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 4: US Insurance - Segmentation (% Share), 2008-2017
Table 5: US Non-Life Insurance - Written Premium by Category (US$ Billion), 2008-2012
Table 6: US Non-Life Insurance - Written Premium by Category (US$ Billion), 2012-2017
Table 7: US Non-Life Insurance - Earned Premium (US$ Billion), 2008-2012
Table 8: US Non-Life Insurance - Earned Premium (US$ Billion), 2012-2017
Table 9: US Non-Life Insurance - Paid Claims by Category (US$ Billion), 2008-2012
Table 10: US Non-Life Insurance - Paid Claims by Category (US$ Billion), 2012-2017
Table 11: US Non-Life Insurance - Incurred Loss by Category (US$ Billion), 2008-2012
Table 12: US Non-Life Insurance - Incurred Loss by Category (US$ Billion), 2012-2017
Table 13: US Non-Life Insurance - Loss Ratio (%), 2008-2012
Table 14: US Non-Life Insurance - Loss Ratio (%), 2012-2017
Table 15: US Non-Life Insurance - Commission and Expenses (US$ Billion), 2008-2012
Table 16: US Non-Life Insurance - Commission and Expenses (US$ Billion), 2012-2017
Table 17: US Non-Life Insurance - Combined Ratio (%), 2008-2012
Table 18: US Non-Life Insurance - Combined Ratio (%), 2012-2017
Table 19: US Non-Life Insurance - Frauds and Crimes (US$ Billion), 2008-2012
Table 20: US Non-Life Insurance - Frauds and Crimes (US$ Billion), 2012-2017
Table 21: US Non-Life Insurance - Total Assets (US$ Billion), 2008-2012
Table 22: US Non-Life Insurance - Total Assets (US$ Billion), 2012-2017
Table 23: US Non-Life Insurance - Total Investment Income (US$ Billion), 2008-2012
Table 24: US Non-Life Insurance - Total Investment Income (US$ Billion), 2012-2017
Table 25: US Non-Life Insurance - Retentions (US$ Billion), 2008-2012
Table 26: US Non-Life Insurance - Retentions (US$ Billion), 2012-2017
Table 27: US Property Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 28: US Property Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 29: US Property Insurance - Loss Ratio (%), 2008-2012
Table 30: US Property Insurance - Loss Ratio (%), 2012-2017
Table 31: US Fire and Allied Perils Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 32: US Fire and Allied Perils Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 33: US Fire and Allied Perils Insurance - Written Premium (US$ Billion), 2008-2012
Table 34: US Fire and Allied Perils Insurance - Written Premium (US$ Billion), 2012-2017
Table 35: US Engineering Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 36: US Engineering Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 37: US Engineering Insurance - Written Premium (US$ Billion), 2008-2012
Table 38: US Engineering Insurance - Written Premium (US$ Billion), 2012-2017
Table 39: US Agriculture Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 40: US Agriculture Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 41: US Agriculture Insurance - Written Premium (US$ Billion), 2008-2012
Table 42: US Agriculture Insurance - Written Premium (US$ Billion), 2012-2017
Table 43: US Other Property Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 44: US Other Property Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 45: US Other Property Insurance - Written Premium (US$ Billion), 2008-2012
Table 46: US Other Property Insurance - Written Premium (US$ Billion), 2012-2017
Table 47: US Motor Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 48: US Motor Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 49: US Motor Insurance - Loss Ratio (%), 2008-2012
Table 50: US Motor Insurance - Loss Ratio (%), 2012-2017
Table 51: US Motor Hull Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 52: US Motor Hull Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 53: US Motor Hull Insurance - Written Premium (US$ Billion), 2008-2012
Table 54: US Motor Hull Insurance - Written Premium (US$ Billion), 2012-2017
Table 55: US Motor Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 56: US Motor Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 57: US Motor Third-Party Insurance - Written Premium (US$ Billion), 2008-2012
Table 58: US Motor Third-Party Insurance - Written Premium (US$ Billion), 2012-2017
Table 59: US General Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 60: US General Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 61: US General Third-Party Insurance - Written Premium (US$ Billion), 2008-2012
Table 62: US General Third-Party Insurance - Written Premium (US$ Billion), 2012-2017
Table 63: US General Third-Party Insurance - Loss Ratio (%), 2008-2012
Table 64: US General Third-Party Insurance - Loss Ratio (%), 2012-2017
Table 65: US Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 66: US Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 67: US Marine, Aviation and Transit Insurance - Loss Ratio (%), 2008-2012
Table 68: US Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2017
Table 69: US Marine Insurance - Written Premium by Policy (US$ Billion), 2008-2012
Table 70: US Marine Insurance - Written Premium by Policy (US$ Billion), 2012-2017
Table 71: US Marine Hull Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 72: US Marine Hull Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 73: US Marine Hull Insurance - Written Premium (US$ Billion), 2008-2012
Table 74: Marine Hull Insurance - Written Premium (US$ Billion), 2012-2017
Table 75: US Marine Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 76: US Marine Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 77: US Marine Third-Party Insurance - Written Premium (US$ Billion), 2008-2012
Table 78: US Marine Third-Party Insurance - Written Premium (US$ Billion), 2012-2017
Table 79: US Aviation Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 80: US Aviation Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 81: US Aviation Insurance - Written Premium (US$ Billion), 2008-2012
Table 82: US Aviation Insurance - Written Premium (US$ Billion), 2012-2017
Table 83: US Transit Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 84: US Transit Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 85: US Transit Insurance - Written Premium (US$ Billion), 2008-2012
Table 86: US Transit Insurance - Written Premium (US$ Billion), 2012-2017
Table 87: US Non-Life Insurance - Direct Marketing Commission Paid (US$ Billion), 2008-2012
Table 88: US Non-Life Insurance - Direct Marketing Commission Paid (US$ Billion), 2012-2017
Table 89: US Non-Life Insurance - Written Premium Through Direct Marketing (US$ Billion), 2008-2012
Table 90: US Non-Life Insurance - Written Premium Through Direct Marketing (US$ Billion), 2012-2017
Table 91: US Non-Life Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 92: US Non-Life Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 93: US Non-Life Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 94: US Non-Life Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 95: US Non-Life Insurance - Bancassurance Commission Paid (US$ Billion), 2008-2012
Table 96: US Non-Life Insurance - Bancassurance Commission Paid (US$ Billion), 2012-2017
Table 97: US Non-Life Insurance - Written Premium Through Bancassurance (US$ Billion), 2008-2012
Table 98: US Non-Life Insurance - Written Premium Through Bancassurance (US$ Billion), 2012-2017
Table 99: US Non-Life Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 100: US Non-Life Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 101: US Non-Life Insurance - Number of Bancassurance Distributors, 2008-2012
Table 102: US Non-Life Insurance - Number of Bancassurance Distributors, 2012-2017
Table 103: US Non-Life Insurance - Commission Paid to Agencies (US$ Billion), 2008-2012
Table 104: US Non-Life Insurance - Commission Paid to Agencies (US$ Billion), 2012-2017
Table 105: US Non-Life Insurance - Written Premium Through Agencies (US$ Billion), 2008-2012
Table 106: US Non-Life Insurance - Written Premium Through Agencies (US$ Billion), 2012-2017
Table 107: US Non-Life Insurance - Policies Sold Through Agencies (Thousand), 2008-2012
Table 108: US Non-Life Insurance - Policies Sold Through Agencies (Thousand), 2012-2017
Table 109: US Non-Life Insurance - Number of Agencies, 2008-2012
Table 110: US Non-Life Insurance - Number of Agencies, 2012-2017
Table 111: US Non-Life Insurance - E-Commerce Commission Paid (US$ Billion), 2008-2012
Table 112: US Non-Life Insurance - E-Commerce Commission Paid (US$ Billion), 2012-2017
Table 113: US Non-Life Insurance - Written Premium Through E-Commerce (US$ Billion), 2008-2012
Table 114: US Non-Life Insurance - Written Premium Through E-Commerce (US$ Billion), 2012-2017
Table 115: US Non-Life Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 116: US Non-Life Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 117: US Non-Life Insurance - Number of E-Commerce Distributors, 2008-2012
Table 118: US Non-Life Insurance - Number of E-Commerce Distributors, 2012-2017
Table 119: US Non-Life Insurance - Commission Paid to Brokers (US$ Billion), 2008-2012
Table 120: US Non-Life Insurance - Commission Paid to Brokers (US$ Billion), 2012-2017
Table 121: US Non-Life Insurance - Written Premium Through Brokers (US$ Billion), 2008-2012
Table 122: US Non-Life Insurance - Written Premium Through Brokers (US$ Billion), 2012-2017
Table 123: US Non-Life Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 124: US Non-Life Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 125: US Non-Life Insurance - Number of Brokers, 2008-2012
Table 126: US Non-Life Insurance - Number of Brokers, 2012-2017
Table 127: US Non-Life Insurance - Commission Paid to Other Channels (US$ Billion), 2008-2012
Table 128: US Non-Life Insurance - Commission Paid to Other Channels (US$ Billion), 2012-2017
Table 129: US Non-Life Insurance - Written Premium Through Other Channels (US$ Billion), 2008-2012
Table 130: Non-Life Insurance - Written Premium Through Other Channels (US$ Billion), 2012-2017
Table 131: US Non-Life Insurance - Policies Sold Through Other Channels (Thousand), 2008-2012
Table 132: US Non-Life Insurance - Policies Sold Through Other Channels (Thousand), 2012-2017
Table 133: US Non-Life Insurance - Number of Distributors in Other Channels, 2008-2012
Table 134: US Non-Life Insurance - Number of Distributors in Other Channels, 2012-2017
Table 135: Reinsurance in the US by Category (US$ Billion), 2008-2012
Table 136: Reinsurance in the US by Category (US$ Billion), 2012-2017
Table 137: US Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 138: US Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 139: US Non-Life Insurance - Percentage of Reinsurance Ceded, 2008-2012
Table 140: US Non-Life Insurance - Percentage of Reinsurance Ceded, 2012-2017
Table 141: Shares of Key Insurers in the US Non-Life Insurance Segment (%), 2012
Table 142: State Farm Mutual Automobile Insurance Company - Key Facts
Table 143: State Farm Mutual Automobile Insurance Company - Key Financials (US$ Million), 2008-2012
Table 144: Zurich Insurance Group - Key Facts
Table 145: Zurich Insurance Group - Key Financials (US$ Million), 2008-2012
Table 146: Liberty Mutual Group, Inc. - Key Facts
Table 147: Liberty Mutual Group, Inc. - Key Financials (US$ Million), 2008-2012
Table 148: Allstate Insurance Company - Key Facts
Table 149: Allstate Insurance Company - Key Financials (US$ Million), 2008-2012
Table 150: American International Group, Inc. - Key Facts
Table 151: American International Group, Inc. - Key Financials (US$ Million), 2008-2012
Table 152: Travelers Companies Inc. - Key Facts
Table 153 Travelers Companies Inc. - Key Financials (US$ Million), 2008-2012
Table 154: Berkshire Hathaway, Inc. - Key Facts
Table 155: Berkshire Hathaway, Inc. - Key Financials (US$ Million), 2008-2012
Table 156: Nationwide Mutual Insurance Company - Key Facts
Table 157: Nationwide Mutual Insurance Company - Key Financials (US$ Million), 2008-2012
Table 158: The Progressive Corporation - Key Facts
Table 159: The Progressive Corporation - Key Financials (US$ Million), 2008-2012
Table 160: United Services Automobile Association - Key Facts
Table 161: United Services Automobile Association - Key Financials (US$ Million), 2008-2012