Global Specialty Insurance Market Size Study & Forecast, by Type, By Distribution Channel, By End-user, and Regional Analysis, 2023-2030

Description

List of Tables

Global Specialty Insurance Market is valued at approximately USD 115.80 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.6% over the forecast period 2023-2030. Specialty insurance is a type of insurance that covers risks that are not typically covered by standard insurance policies. Specialty insurance can be used to protect businesses, individuals, and families from a variety of risks, including Marine, Aviation & Transport (MAT) insurance; political risk & credit insurance; entertainment insurance; art insurance; livestock & aquaculture insurance; and many others. The global market growth is being driven by the surge in demand for specialized expertise, rising implementation of technologies such as the Internet of Things (IoT) and blockchain, coupled with the increasing regulatory compliance in various industries creating the need for specialized insurance coverage.

In addition, venture capital firms all over the world are concentrating on investing in specialty insurance companies because the industry is expected to develop at an increasing rate during the anticipated period. For instance, in September 2021, Ategrity speciality- a specialty property and casualty insurance company announced that it had obtained USD 75 million in financing, with Sequentis Financial LLC serving as the lead arranger, to bolster its product lines and support its sustained expansion. This funding is expected to be used by the business to invest in data and analytics capabilities and boost the company's growth. Thus, these aforementioned factors are propelling the growth of Specialty Insurance Market during the estimated period. Moreover, the rising incorporation of technologies in specialty insurance offerings, as well as increased customization and flexibility compared to standard insurance policies present various lucrative opportunities over the forecasting years. However, the lack of awareness about specialty insurance and the complex underwriting and risk assessment are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Specialty Insurance Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the high demand for specialized expertise, as well as growing technological advancements. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The growing focus on the increasing complexity of risks, rising regulatory compliance, coupled with the growing integration of risk management techniques are significantly propelling the market demand across the region.

Major market players included in this report are:

Allianz
American International Group, Inc.
Assicurazioni Generali S.p.A.
Berkshire Hathaway Inc.
Munich RE
Tokio Marine HCC
Argo Group
PICC
Zurich
Axa S.A.

Recent Developments in the Market:

In March 2023, Falvey Insurance Group increased the range of products it offers with the introduction of inland marine coverage in order to support its expansion in specialty markets. The business offers a variety of supplementary value-added services at no extra charge.

Global Specialty Insurance Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Distribution Channel, End-user, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.

By Type:

Marine, Aviation & Transport (MAT) Insurance
Political Risk & Credit Insurance
Entertainment Insurance
Art Insurance
Livestock & Aquaculture Insurance
Others

By Distribution Channel:

Brokers
Non-brokers

By End-user:

Business
Individuals

By Region:

North America

U.S.
Canada

Europe

UK
Germany
France
Spain
Italy
ROE

Asia Pacific

China
India
Japan
Australia
South Korea
RoAPAC

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Specialty Insurance Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Specialty Insurance Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Specialty Insurance Market, by Distribution Channel, 2020-2030 (USD Billion)
- 1.2.4. Specialty Insurance Market, by End-user, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Specialty Insurance Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Specialty Insurance Market Dynamics

3.1. Specialty Insurance Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Surge in demand for specialized expertise
  - 3.1.1.2. Rising focus on investing in specialty insurance companies by various venture capital firms
- 3.1.2. Market Challenges
  - 3.1.2.1. Lack of awareness about specialty insurance
  - 3.1.2.2. Complex Underwriting and risk assessment
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rising incorporation of technologies in specialty insurance offerings
  - 3.1.3.2. Increased customization and flexibility compared to standard insurance policies

Chapter 4. Global Specialty Insurance Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Specialty Insurance Market, by Type

5.1. Market Snapshot
5.2. Global Specialty Insurance Market by Type, Performance - Potential Analysis
5.3. Global Specialty Insurance Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Specialty Insurance Market, Sub Segment Analysis
- 5.4.1. Marine, Aviation & Transport (MAT) Insurance
- 5.4.2. Political Risk & Credit Insurance
- 5.4.3. Entertainment Insurance
- 5.4.4. Art Insurance
- 5.4.5. Livestock & Aquaculture Insurance
- 5.4.6. Others

Chapter 6. Global Specialty Insurance Market, by Distribution Channel

6.1. Market Snapshot
6.2. Global Specialty Insurance Market by Distribution Channel, Performance - Potential Analysis
6.3. Global Specialty Insurance Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
6.4. Specialty Insurance Market, Sub Segment Analysis
- 6.4.1. Brokers
- 6.4.2. Non-brokers

Chapter 7. Global Specialty Insurance Market, by End-user

7.1. Market Snapshot
7.2. Global Specialty Insurance Market by End-user, Performance - Potential Analysis
7.3. Global Specialty Insurance Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
7.4. Specialty Insurance Market, Sub Segment Analysis
- 7.4.1. Business
- 7.4.2. Individuals

Chapter 8. Global Specialty Insurance Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Specialty Insurance Market, Regional Market Snapshot
8.4. North America Specialty Insurance Market
- 8.4.1. U.S. Specialty Insurance Market
  - 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Distribution Channel breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. End-user breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Specialty Insurance Market
8.5. Europe Specialty Insurance Market Snapshot
- 8.5.1. U.K. Specialty Insurance Market
- 8.5.2. Germany Specialty Insurance Market
- 8.5.3. France Specialty Insurance Market
- 8.5.4. Spain Specialty Insurance Market
- 8.5.5. Italy Specialty Insurance Market
- 8.5.6. Rest of Europe Specialty Insurance Market
8.6. Asia-Pacific Specialty Insurance Market Snapshot
- 8.6.1. China Specialty Insurance Market
- 8.6.2. India Specialty Insurance Market
- 8.6.3. Japan Specialty Insurance Market
- 8.6.4. Australia Specialty Insurance Market
- 8.6.5. South Korea Specialty Insurance Market
- 8.6.6. Rest of Asia Pacific Specialty Insurance Market
8.7. Latin America Specialty Insurance Market Snapshot
- 8.7.1. Brazil Specialty Insurance Market
- 8.7.2. Mexico Specialty Insurance Market
8.8. Middle East & Africa Specialty Insurance Market
- 8.8.1. Saudi Arabia Specialty Insurance Market
- 8.8.2. South Africa Specialty Insurance Market
- 8.8.3. Rest of Middle East & Africa Specialty Insurance Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Allianz
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. American International Group, Inc.
- 9.3.3. Assicurazioni Generali S.p.A.
- 9.3.4. Berkshire Hathaway Inc.
- 9.3.5. Munich RE
- 9.3.6. Tokio Marine HCC
- 9.3.7. Argo Group
- 9.3.8. PICC
- 9.3.9. Zurich
- 9.3.10. Axa S.A.

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Specialty Insurance Market, report scope
TABLE 2. Global Specialty Insurance Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Specialty Insurance Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4. Global Specialty Insurance Market estimates & forecasts by Distribution Channel 2020-2030 (USD Billion)
TABLE 5. Global Specialty Insurance Market estimates & forecasts by End-user 2020-2030 (USD Billion)
TABLE 6. Global Specialty Insurance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Specialty Insurance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Specialty Insurance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Specialty Insurance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Specialty Insurance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Specialty Insurance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Specialty Insurance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Specialty Insurance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Specialty Insurance Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Specialty Insurance Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Specialty Insurance Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Specialty Insurance Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Specialty Insurance Market
TABLE 71. List of primary sources, used in the study of global Specialty Insurance Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Specialty Insurance Market, research methodology
FIG 2. Global Specialty Insurance Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Specialty Insurance Market, key trends 2022
FIG 5. Global Specialty Insurance Market, growth prospects 2023-2030
FIG 6. Global Specialty Insurance Market, porters 5 force model
FIG 7. Global Specialty Insurance Market, pest analysis
FIG 8. Global Specialty Insurance Market, value chain analysis
FIG 9. Global Specialty Insurance Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Specialty Insurance Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Specialty Insurance Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Specialty Insurance Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Specialty Insurance Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Specialty Insurance Market, regional snapshot 2020 & 2030
FIG 15. North America Specialty Insurance Market 2020 & 2030 (USD Billion)
FIG 16. Europe Specialty Insurance Market 2020 & 2030 (USD Billion)
FIG 17. Asia Pacific Specialty Insurance Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Specialty Insurance Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Specialty Insurance Market 2020 & 2030 (USD Billion)