Global Specialty Insurance Market 2024-2028

PUBLISHED: April 25, 2024

PAGES: 162 Pages

DELIVERY TIME: 1-2 business days

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The specialty insurance market is forecasted to grow by USD 57.25 bn during 2023-2028, accelerating at a CAGR of 10.36% during the forecast period. The report on the specialty insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing globalization and interconnectedness of business, emerging industries and innovative business models, and rising frequency and severity of natural disasters and climate-related events.

Technavio's specialty insurance market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	10.26%
CAGR	10.36%
Incremental Value	$57.25bn

By Distribution Channel

Brokers
Non-brokers

By End-user

Business
Individual

By Geographical Landscape

Europe
North America
APAC
South America
Middle East and Africa

This study identifies the increase in collaboration among specialty insurer as one of the prime reasons driving the specialty insurance market growth during the next few years. Also, integration of artificial intelligence and data analytics for risk assessment and development of microinsurance and on-demand insurance products will lead to sizable demand in the market.

The report on the specialty insurance market covers the following areas:

Specialty insurance market sizing
Specialty insurance market forecast
Specialty insurance market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading specialty insurance market vendors that include Allianz SE, American International Group Inc., Assicurazioni Generali S.p.A., Avolta AG, AXA Group, Beazley Plc, Berkshire Hathaway Inc., Chubb Ltd., Hiscox Ltd., Liberty Mutual Insurance Co., Markel Corp., Munich Reinsurance Co., PICC Property and Casualty Co. Ltd., QBE Insurance Group Ltd., SELECTIVE INSURANCE GROUP INC., THE HANOVER INSURANCE GROUP INC., THE HARTFORD FINANCIAL SERVICES GROUP INC., Tokio Marine Holdings Inc., Zurich Insurance Co. Ltd., and ARGO GROUP INTERNATIONAL HOLDINGS LTD.. Also, the specialty insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR77791

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028

4 Historic Market Size

4.1 Global speciality insurance market 2018 - 2022
4.2 Distribution Channel Segment Analysis 2018 - 2022
4.3 End-user Segment Analysis 2018 - 2022
4.4 Geography Segment Analysis 2018 - 2022
4.5 Country Segment Analysis 2018 - 2022

5 Five Forces Analysis

5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition

6 Market Segmentation by Distribution Channel

6.1 Market segments
6.2 Comparison by Distribution Channel
6.3 Brokers - Market size and forecast 2023-2028
6.4 Non-brokers - Market size and forecast 2023-2028
6.5 Market opportunity by Distribution Channel

7 Market Segmentation by End-user

7.1 Market segments
7.2 Comparison by End-user
7.3 Business - Market size and forecast 2023-2028
7.4 Individual - Market size and forecast 2023-2028
7.5 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation
9.2 Geographic comparison
9.3 Europe - Market size and forecast 2023-2028
9.4 North America - Market size and forecast 2023-2028
9.5 APAC - Market size and forecast 2023-2028
9.6 South America - Market size and forecast 2023-2028
9.7 Middle East and Africa - Market size and forecast 2023-2028
9.8 US - Market size and forecast 2023-2028
9.9 China - Market size and forecast 2023-2028
9.10 Germany - Market size and forecast 2023-2028
9.11 France - Market size and forecast 2023-2028
9.12 Japan - Market size and forecast 2023-2028
9.13 Market opportunity By Geographical Landscape

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Allianz SE
12.4 American International Group Inc.
12.5 ARGO GROUP INTERNATIONAL HOLDINGS LTD.
12.6 Assicurazioni Generali S.p.A.
12.7 AXA Group
12.8 Beazley Plc
12.9 Berkshire Hathaway Inc.
12.10 Chubb Ltd.
12.11 Hiscox Ltd.
12.12 Markel Corp.
12.13 Munich Reinsurance Co.
12.14 QBE Insurance Group Ltd.
12.15 THE HARTFORD FINANCIAL SERVICES GROUP INC.
12.16 Tokio Marine Holdings Inc.
12.17 Zurich Insurance Co. Ltd.

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations

Product Code: IRTNTR77791

Exhibits:

Exhibits1: Executive Summary - Chart on Market Overview
Exhibits2: Executive Summary - Data Table on Market Overview
Exhibits3: Executive Summary - Chart on Global Market Characteristics
Exhibits4: Executive Summary - Chart on Market By Geographical Landscape
Exhibits5: Executive Summary - Chart on Market Segmentation by Distribution Channel
Exhibits6: Executive Summary - Chart on Market Segmentation by End-user
Exhibits7: Executive Summary - Chart on Incremental Growth
Exhibits8: Executive Summary - Data Table on Incremental Growth
Exhibits9: Executive Summary - Chart on Vendor Market Positioning
Exhibits10: Parent market
Exhibits11: Market Characteristics
Exhibits12: Offerings of vendors included in the market definition
Exhibits13: Market segments
Exhibits14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibits15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibits16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibits17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
Exhibits18: Historic Market Size - Data Table on global speciality insurance market 2018 - 2022 ($ billion)
Exhibits19: Historic Market Size - Distribution Channel Segment 2018 - 2022 ($ billion)
Exhibits20: Historic Market Size - End-user Segment 2018 - 2022 ($ billion)
Exhibits21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
Exhibits22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)
Exhibits23: Five forces analysis - Comparison between 2023 and 2028
Exhibits24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
Exhibits25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
Exhibits26: Threat of new entrants - Impact of key factors in 2023 and 2028
Exhibits27: Threat of substitutes - Impact of key factors in 2023 and 2028
Exhibits28: Threat of rivalry - Impact of key factors in 2023 and 2028
Exhibits29: Chart on Market condition - Five forces 2023 and 2028
Exhibits30: Chart on Distribution Channel - Market share 2023-2028 (%)
Exhibits31: Data Table on Distribution Channel - Market share 2023-2028 (%)
Exhibits32: Chart on Comparison by Distribution Channel
Exhibits33: Data Table on Comparison by Distribution Channel
Exhibits34: Chart on Brokers - Market size and forecast 2023-2028 ($ billion)
Exhibits35: Data Table on Brokers - Market size and forecast 2023-2028 ($ billion)
Exhibits36: Chart on Brokers - Year-over-year growth 2023-2028 (%)
Exhibits37: Data Table on Brokers - Year-over-year growth 2023-2028 (%)
Exhibits38: Chart on Non-brokers - Market size and forecast 2023-2028 ($ billion)
Exhibits39: Data Table on Non-brokers - Market size and forecast 2023-2028 ($ billion)
Exhibits40: Chart on Non-brokers - Year-over-year growth 2023-2028 (%)
Exhibits41: Data Table on Non-brokers - Year-over-year growth 2023-2028 (%)
Exhibits42: Market opportunity by Distribution Channel ($ billion)
Exhibits43: Data Table on Market opportunity by Distribution Channel ($ billion)
Exhibits44: Chart on End-user - Market share 2023-2028 (%)
Exhibits45: Data Table on End-user - Market share 2023-2028 (%)
Exhibits46: Chart on Comparison by End-user
Exhibits47: Data Table on Comparison by End-user
Exhibits48: Chart on Business - Market size and forecast 2023-2028 ($ billion)
Exhibits49: Data Table on Business - Market size and forecast 2023-2028 ($ billion)
Exhibits50: Chart on Business - Year-over-year growth 2023-2028 (%)
Exhibits51: Data Table on Business - Year-over-year growth 2023-2028 (%)
Exhibits52: Chart on Individual - Market size and forecast 2023-2028 ($ billion)
Exhibits53: Data Table on Individual - Market size and forecast 2023-2028 ($ billion)
Exhibits54: Chart on Individual - Year-over-year growth 2023-2028 (%)
Exhibits55: Data Table on Individual - Year-over-year growth 2023-2028 (%)
Exhibits56: Market opportunity by End-user ($ billion)
Exhibits57: Data Table on Market opportunity by End-user ($ billion)
Exhibits58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Exhibits59: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibits60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
Exhibits61: Chart on Geographic comparison
Exhibits62: Data Table on Geographic comparison
Exhibits63: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibits64: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibits65: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibits66: Data Table on Europe - Year-over-year growth 2023-2028 (%)
Exhibits67: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibits68: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibits69: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibits70: Data Table on North America - Year-over-year growth 2023-2028 (%)
Exhibits71: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibits72: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibits73: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibits74: Data Table on APAC - Year-over-year growth 2023-2028 (%)
Exhibits75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibits76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibits77: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibits78: Data Table on South America - Year-over-year growth 2023-2028 (%)
Exhibits79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibits80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibits81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibits82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibits83: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibits84: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibits85: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibits86: Data Table on US - Year-over-year growth 2023-2028 (%)
Exhibits87: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibits88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibits89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibits90: Data Table on China - Year-over-year growth 2023-2028 (%)
Exhibits91: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibits92: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibits93: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibits94: Data Table on Germany - Year-over-year growth 2023-2028 (%)
Exhibits95: Chart on France - Market size and forecast 2023-2028 ($ billion)
Exhibits96: Data Table on France - Market size and forecast 2023-2028 ($ billion)
Exhibits97: Chart on France - Year-over-year growth 2023-2028 (%)
Exhibits98: Data Table on France - Year-over-year growth 2023-2028 (%)
Exhibits99: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibits100: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibits101: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibits102: Data Table on Japan - Year-over-year growth 2023-2028 (%)
Exhibits103: Market opportunity By Geographical Landscape ($ billion)
Exhibits104: Data Tables on Market opportunity By Geographical Landscape ($ billion)
Exhibits105: Impact of drivers and challenges in 2023 and 2028
Exhibits106: Overview on Criticality of inputs and Factors of differentiation
Exhibits107: Overview on factors of disruption
Exhibits108: Impact of key risks on business
Exhibits109: Vendors covered
Exhibits110: Matrix on vendor position and classification
Exhibits111: Allianz SE - Overview
Exhibits112: Allianz SE - Business segments
Exhibits113: Allianz SE - Key news
Exhibits114: Allianz SE - Key offerings
Exhibits115: Allianz SE - Segment focus
Exhibits116: American International Group Inc. - Overview
Exhibits117: American International Group Inc. - Business segments
Exhibits118: American International Group Inc. - Key offerings
Exhibits119: American International Group Inc. - Segment focus
Exhibits120: ARGO GROUP INTERNATIONAL HOLDINGS LTD. - Overview
Exhibits121: ARGO GROUP INTERNATIONAL HOLDINGS LTD. - Business segments
Exhibits122: ARGO GROUP INTERNATIONAL HOLDINGS LTD. - Key offerings
Exhibits123: ARGO GROUP INTERNATIONAL HOLDINGS LTD. - Segment focus
Exhibits124: Assicurazioni Generali S.p.A. - Overview
Exhibits125: Assicurazioni Generali S.p.A. - Business segments
Exhibits126: Assicurazioni Generali S.p.A. - Key offerings
Exhibits127: Assicurazioni Generali S.p.A. - Segment focus
Exhibits128: AXA Group - Overview
Exhibits129: AXA Group - Business segments
Exhibits130: AXA Group - Key news
Exhibits131: AXA Group - Key offerings
Exhibits132: AXA Group - Segment focus
Exhibits133: Beazley Plc - Overview
Exhibits134: Beazley Plc - Business segments
Exhibits135: Beazley Plc - Key offerings
Exhibits136: Beazley Plc - Segment focus
Exhibits137: Berkshire Hathaway Inc. - Overview
Exhibits138: Berkshire Hathaway Inc. - Business segments
Exhibits139: Berkshire Hathaway Inc. - Key news
Exhibits140: Berkshire Hathaway Inc. - Key offerings
Exhibits141: Berkshire Hathaway Inc. - Segment focus
Exhibits142: Chubb Ltd. - Overview
Exhibits143: Chubb Ltd. - Business segments
Exhibits144: Chubb Ltd. - Key news
Exhibits145: Chubb Ltd. - Key offerings
Exhibits146: Chubb Ltd. - Segment focus
Exhibits147: Hiscox Ltd. - Overview
Exhibits148: Hiscox Ltd. - Product / Service
Exhibits149: Hiscox Ltd. - Key offerings
Exhibits150: Markel Corp. - Overview
Exhibits151: Markel Corp. - Product / Service
Exhibits152: Markel Corp. - Key offerings
Exhibits153: Munich Reinsurance Co. - Overview
Exhibits154: Munich Reinsurance Co. - Business segments
Exhibits155: Munich Reinsurance Co. - Key offerings
Exhibits156: Munich Reinsurance Co. - Segment focus
Exhibits157: QBE Insurance Group Ltd. - Overview
Exhibits158: QBE Insurance Group Ltd. - Business segments
Exhibits159: QBE Insurance Group Ltd. - Key offerings
Exhibits160: QBE Insurance Group Ltd. - Segment focus
Exhibits161: THE HARTFORD FINANCIAL SERVICES GROUP INC. - Overview
Exhibits162: THE HARTFORD FINANCIAL SERVICES GROUP INC. - Business segments
Exhibits163: THE HARTFORD FINANCIAL SERVICES GROUP INC. - Key offerings
Exhibits164: THE HARTFORD FINANCIAL SERVICES GROUP INC. - Segment focus
Exhibits165: Tokio Marine Holdings Inc. - Overview
Exhibits166: Tokio Marine Holdings Inc. - Business segments
Exhibits167: Tokio Marine Holdings Inc. - Key news
Exhibits168: Tokio Marine Holdings Inc. - Key offerings
Exhibits169: Tokio Marine Holdings Inc. - Segment focus
Exhibits170: Zurich Insurance Co. Ltd. - Overview
Exhibits171: Zurich Insurance Co. Ltd. - Business segments
Exhibits172: Zurich Insurance Co. Ltd. - Key offerings
Exhibits173: Zurich Insurance Co. Ltd. - Segment focus
Exhibits174: Inclusions checklist
Exhibits175: Exclusions checklist
Exhibits176: Currency conversion rates for US$
Exhibits177: Research methodology
Exhibits178: Validation techniques employed for market sizing
Exhibits179: Information sources
Exhibits180: List of abbreviations