The North America Specialty Insurance Market would witness market growth of 10.0% CAGR during the forecast period (2022-2028).
Specialty insurance provides a broad range of coverage options with tremendous flexibility concerning the policy duration, policy term, and coverages, significantly increasing the specialty insurance market's growth. Throughout the projected period, the market expansion is anticipated to be driven by a rising need for specialty insurance between Program Administrators (PAs), one of the major vendors of specialty insurance products.
Since these programs offer a comprehensive and tailored design to efficiently meet the needs of company segments with distinct risk profiles, the industry has seen a rise in demand for expert knowledge in specialty insurance products. In addition, due to PAs' extensive knowledge of the target market exposure, these administrators perform as specialized experts. As a result, administrators' knowledge is increasingly relied upon by policyholders, specialty insurers, and brokers to offer their clients specific specialist coverages.
An effective and convenient transportation system is crucial for connecting people and promoting economic activity in Canada because of its large landmass and widely distributed population. The multi-modal transportation network in Canada comprises numerous critical resources and networks that connect all of the country's regions. Transportation is crucial in both Canadians' daily lives and the country's economy. It connects people to jobs, gets goods to consumers, links locales and communities to one another and worldwide markets, and maintains and draws international value chains, which are the foundation of both international and domestic trade. Similarly, other industries are demanding specialty risk coverage. Hence, the region presents lucrative growth opportunities for the market.
The US market dominated the North America Specialty Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $43,873.4 million by 2028. The Canada market is poised to grow at a CAGR of 12.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.5% during (2022 - 2028).
Based on End User, the market is segmented into Business, and Individuals. Based on Distribution Channel, the market is segmented into Brokers, and Non-brokers. Based on Type, the market is segmented into Marine, Aviation & Transport (MAT) Insurance, Political Risk & Credit Insurance, Entertainment Insurance, Art Insurance, Livestock & Aquaculture Insurance, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Specialty Insurance Market is Predict to reach $199.7 Billion by 2028, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tokio Marine Holdings, Inc., Allianz Trade (Allianz Group), AXA SA, Chubb Limited, Zurich Insurance Group Ltd., Berkshire Hathaway, Inc., Assicurazioni Generali SpA, Munich Re Group, American International Group, Inc. (AIG), and PICC Property and Casualty Company Limited.
Scope of the Study
Market Segments Covered in the Report:
By End User
By Distribution Channel
By Type
- Marine, Aviation & Transport (MAT) Insurance
- Political Risk & Credit Insurance
- Entertainment Insurance
- Art Insurance
- Livestock & Aquaculture Insurance
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Tokio Marine Holdings, Inc.
- Allianz Trade (Allianz Group)
- AXA SA
- Chubb Limited
- Zurich Insurance Group Ltd.
- Berkshire Hathaway, Inc.
- Assicurazioni Generali SpA
- Munich Re Group
- American International Group, Inc. (AIG)
- PICC Property and Casualty Company Limited
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Specialty Insurance Market, by End User
1.4.2 North America Specialty Insurance Market, by Distribution Channel
1.4.3 North America Specialty Insurance Market, by Type
1.4.4 North America Specialty Insurance Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. North America Specialty Insurance Market by End User
4.1 North America Business Market by Country
4.2 North America Individuals Market by Country
Chapter 5. North America Specialty Insurance Market by Distribution Channel
5.1 North America Brokers Market by Country
5.2 North America Non-brokers Market by Country
Chapter 6. North America Specialty Insurance Market by Type
6.1 North America Marine, Aviation & Transport (MAT) Insurance Market by Country
6.2 North America Political Risk & Credit Insurance Market by Country
6.3 North America Entertainment Insurance Market by Country
6.4 North America Art Insurance Market by Country
6.5 North America Livestock & Aquaculture Insurance Market by Country
6.6 North America Others Market by Country
Chapter 7. North America Specialty Insurance Market by Country
7.1 US Specialty Insurance Market
7.1.1 US Specialty Insurance Market by End User
7.1.2 US Specialty Insurance Market by Distribution Channel
7.1.3 US Specialty Insurance Market by Type
7.2 Canada Specialty Insurance Market
7.2.1 Canada Specialty Insurance Market by End User
7.2.2 Canada Specialty Insurance Market by Distribution Channel
7.2.3 Canada Specialty Insurance Market by Type
7.3 Mexico Specialty Insurance Market
7.3.1 Mexico Specialty Insurance Market by End User
7.3.2 Mexico Specialty Insurance Market by Distribution Channel
7.3.3 Mexico Specialty Insurance Market by Type
7.4 Rest of North America Specialty Insurance Market
7.4.1 Rest of North America Specialty Insurance Market by End User
7.4.2 Rest of North America Specialty Insurance Market by Distribution Channel
7.4.3 Rest of North America Specialty Insurance Market by Type
Chapter 8. Company Profiles
8.1 Tokio Marine Holdings, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Partnerships, Collaborations, and Agreements:
8.1.4.2 Product Launches and Product Expansions:
8.1.4.3 Acquisition and Mergers:
8.2 Allianz Trade (Allianz Group)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Partnerships, Collaborations, and Agreements:
8.3 AXA SA
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Acquisition and Mergers:
8.4 Chubb Limited
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Recent strategies and developments:
8.4.4.1 Acquisition and Mergers:
8.5 Zurich Insurance Group Ltd.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Recent strategies and developments:
8.5.3.1 Partnerships, Collaborations, and Agreements:
8.5.3.2 Product Launches and Product Expansions:
8.5.3.3 Acquisition and Mergers:
8.6 Berkshire Hathaway, Inc.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Recent strategies and developments:
8.6.4.1 Partnerships, Collaborations, and Agreements:
8.6.4.2 Product Launches and Product Expansions:
8.6.4.3 Geographical Expansions:
8.7 Assicurazioni Generali SpA
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Recent strategies and developments:
8.7.3.1 Partnerships, Collaborations, and Agreements:
8.7.3.2 Acquisition and Mergers:
8.8 Munich Re Group
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Recent strategies and developments:
8.8.4.1 Acquisition and Mergers:
8.9 American International Group, Inc. (AIG)
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Recent strategies and developments:
8.9.4.1 Acquisition and Mergers:
8.10. PICC Property and Casualty Company Limited
8.10.1 Company Overview
TABLE 1 North America Specialty Insurance Market, 2018 - 2021, USD Million
TABLE 2 North America Specialty Insurance Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Specialty Insurance Market
TABLE 4 Product Launches And Product Expansions– Specialty Insurance Market
TABLE 5 Acquisition and Mergers– Specialty Insurance Market
TABLE 6 Geograpphical Expansions– Specialty Insurance Market
TABLE 7 North America Specialty Insurance Market by End User, 2018 - 2021, USD Million
TABLE 8 North America Specialty Insurance Market by End User, 2022 - 2028, USD Million
TABLE 9 North America Business Market by Country, 2018 - 2021, USD Million
TABLE 10 North America Business Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Individuals Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Individuals Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Specialty Insurance Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 14 North America Specialty Insurance Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 15 North America Brokers Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Brokers Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Non-brokers Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Non-brokers Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Specialty Insurance Market by Type, 2018 - 2021, USD Million
TABLE 20 North America Specialty Insurance Market by Type, 2022 - 2028, USD Million
TABLE 21 North America Marine, Aviation & Transport (MAT) Insurance Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Marine, Aviation & Transport (MAT) Insurance Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Political Risk & Credit Insurance Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Political Risk & Credit Insurance Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Entertainment Insurance Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Entertainment Insurance Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Art Insurance Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Art Insurance Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Livestock & Aquaculture Insurance Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Livestock & Aquaculture Insurance Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 33 North America Specialty Insurance Market by Country, 2018 - 2021, USD Million
TABLE 34 North America Specialty Insurance Market by Country, 2022 - 2028, USD Million
TABLE 35 US Specialty Insurance Market, 2018 - 2021, USD Million
TABLE 36 US Specialty Insurance Market, 2022 - 2028, USD Million
TABLE 37 US Specialty Insurance Market by End User, 2018 - 2021, USD Million
TABLE 38 US Specialty Insurance Market by End User, 2022 - 2028, USD Million
TABLE 39 US Specialty Insurance Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 40 US Specialty Insurance Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 41 US Specialty Insurance Market by Type, 2018 - 2021, USD Million
TABLE 42 US Specialty Insurance Market by Type, 2022 - 2028, USD Million
TABLE 43 Canada Specialty Insurance Market, 2018 - 2021, USD Million
TABLE 44 Canada Specialty Insurance Market, 2022 - 2028, USD Million
TABLE 45 Canada Specialty Insurance Market by End User, 2018 - 2021, USD Million
TABLE 46 Canada Specialty Insurance Market by End User, 2022 - 2028, USD Million
TABLE 47 Canada Specialty Insurance Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 48 Canada Specialty Insurance Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 49 Canada Specialty Insurance Market by Type, 2018 - 2021, USD Million
TABLE 50 Canada Specialty Insurance Market by Type, 2022 - 2028, USD Million
TABLE 51 Mexico Specialty Insurance Market, 2018 - 2021, USD Million
TABLE 52 Mexico Specialty Insurance Market, 2022 - 2028, USD Million
TABLE 53 Mexico Specialty Insurance Market by End User, 2018 - 2021, USD Million
TABLE 54 Mexico Specialty Insurance Market by End User, 2022 - 2028, USD Million
TABLE 55 Mexico Specialty Insurance Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 56 Mexico Specialty Insurance Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 57 Mexico Specialty Insurance Market by Type, 2018 - 2021, USD Million
TABLE 58 Mexico Specialty Insurance Market by Type, 2022 - 2028, USD Million
TABLE 59 Rest of North America Specialty Insurance Market, 2018 - 2021, USD Million
TABLE 60 Rest of North America Specialty Insurance Market, 2022 - 2028, USD Million
TABLE 61 Rest of North America Specialty Insurance Market by End User, 2018 - 2021, USD Million
TABLE 62 Rest of North America Specialty Insurance Market by End User, 2022 - 2028, USD Million
TABLE 63 Rest of North America Specialty Insurance Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 64 Rest of North America Specialty Insurance Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 65 Rest of North America Specialty Insurance Market by Type, 2018 - 2021, USD Million
TABLE 66 Rest of North America Specialty Insurance Market by Type, 2022 - 2028, USD Million
TABLE 67 Key Information – Tokio Marine Holdings, Inc.
TABLE 68 Key Information – Allianz Trade
TABLE 69 key information – AXA SA
TABLE 70 Key Information – Chubb Limited
TABLE 71 Key Information – Zurich Insurance Group Ltd.
TABLE 72 key information – Berkshire Hathaway, Inc.
TABLE 73 Key information – Assicurazioni Generali SpA
TABLE 74 Key Information – Munich Re Group
TABLE 75 Key Information – American International Group, Inc. (AIG)
TABLE 76 Key Information – PICC Property and Casualty Company Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Recent strategies and developments: Tokio Marine Holdings, Inc.
FIG 5 SWOT Analysis: Allianz Group
FIG 6 Recent strategies and developments: AXA SA
FIG 7 Recent strategies and developments: Zurich Insurance Group Ltd.
FIG 8 Recent strategies and developments: Berkshire Hathaway, Inc.
FIG 9 Recent strategies and developments: Assicurazioni Generali SpA