Market Insights and Analysis: Commercial Insurance Market Overview and Projections (2024-2030)

The Global Commercial Insurance Market size was valued at around USD 1.2 billion in 2023 and is expected to grow at a compound annual growth rate or CAGR of 7.9% from 2024-30.

Top leading companies in the Commercial Insurance Market includes:

Allianz SE, American International Group Inc., Aon plc., Aviva plc., Axa S.A., Chubb Limited, Direct Line Insurance Group plc., Marsh & McLennan Companies Inc., Willis Towers Watson Public Limited Company, and Zurich Insurance Group Ltd.

Industry Recent Development:

• 2023: American International Groups Inc., declared that it has finalized its agreement with funds managed by Stone Point Capital LLC, focused on investing in business within the global financial services industry, to form Private Client Select Insurance Services (PCS), an independent Managing General Agency (MGA) to serve High New Worth and Ultra High Net Worth markets.
• 2023: Aviva PLC acquired a significant stake in Fox Factory Holding Corp. during the first quarter of the year.
• 2023: AON PLC declared its partnership with Cover Whale to expand trucking insurance offerings.

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Report Segmentation:

The market is categorized into the following segments in the report:

By Type

-Liability Insurance

-Commercial Motor Insurance

-Commercial Property Insurance

-Marine Insurance

By Industry

-Transportation and Logistics

-Manufacturing

-Construction

-IT and Telecom

-Healthcare

-Energy and Utilities

By Enterprise Size

-Large Enterprises

-Small & Medium-sized Enterprises

• The large enterprises segment holds the largest market share. This is owing to rising awareness of risk management specifically for large enterprises.

By Distribution Channel

-Agents & Brokers

-Direct Response

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Commercial Insurance Market Geographic Reach:

The Geographic Reach of the Commercial Insurance Market evaluates the spread and significance of Commercial Insurance market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.

• North America: The US, Canada, Mexico
• South America: Brazil, Rest of South America
• Europe: Germany, France, Italy, The UK, Spain, Russia, Rest of Europe
• Asia-Pacific: China, Japan, India, South Korea, Australia, Indonesia Rest of Asia Pacific
• Middle East & Africa: GCC, South Africa, Rest of Middle East and Africa

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