Specialty Insurance Market

Specialty Insurance Market Report: Size, Share, Trends & Growth to 2027

3 minutes, 34 seconds Read

The latest research study “Specialty Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global specialty insurance market reached a value of US$ 78.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 131.21 Billion by 2027, exhibiting a CAGR of 8.50% during 2022-2027.

Specialty insurance is specially designed for companies that require unusual coverage. It covers high-risk investments or assets not protected by conventional insurance plans. Some commonly available policies include livestock, aquaculture, marine, aviation and transport (MAT), arts, entertainment, and political risk and credit insurance. It also protects against lawsuits under specialty insurance known as errors and omissions (E&O) to help an organization recover financially. As a result, specialty insurance is gaining immense popularity among businesses across the healthcare, construction, and energy industries.

Request for a Free Sample Copy of This Report: https://www.imarcgroup.com/specialty-insurance-market/requestsample

Specialty Insurance Market Trends:

The global specialty insurance market is primarily driven by the rising need to safeguard businesses from potential risks, commercial obligations, and negligence claims not typically covered by conventional business insurance plans. Additionally, numerous insurers, brokers, and policyholders rely on specialized knowledge to provide specialty coverages that help fulfill the needs of organizations with unique risk profiles. In line with this, the rapid expansion of businesses worldwide has catalyzed market growth.

Besides this, the rising instances of human-caused catastrophes, natural disasters, and sudden or gradual property damages in the real estate industry have augmented product demand. Furthermore, the surging adoption of innovative digital solutions by key players to offer better services to customers and extend their operations is positively influencing the market growth. Other factors, including technological advancements, surging demand for specialized expertise, and increasing implementation of the Internet of Things (IoT), are also anticipated to drive the market further.

Specialty Insurance Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Major Players Covered:

  • American International Group Inc.
  • Mapfre S.A.
  • Munich Reinsurance Company
  • Nationwide Mutual Insurance Company
  • RenaissanceRe Holdings Ltd.
  • Selective Insurance Group Inc.
  • Assicurazioni Generali S.P.A.
  • Axa XL (Axa S.A)
  • Hiscox Ltd.
  • Manulife Financial Corporation
  • The Hanover Insurance Group Inc.
  • Zurich Insurance Group Ltd.

Key Market Segmentation:

The report has segmented the market on the basis of type, distribution channel, end user and region.

Breakup by Type:

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

Breakup by Distribution Channel:

  • Brokers
  • Non-Brokers

Breakup by End User:

  • Business
  • Individuals

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Click here to view detailed information with table of content: https://bit.ly/3O1Biv0

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:

• Market Performance (2016-2021)

• Market Outlook (2022-2027)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact:

Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St.
City: Brooklyn
State: NY
Country: United States

Browse More: Smart Energy Market 2022-2027 by Size, Share, Demand And Trends

Similar Posts