US Insurance Revenues to Reach $3.0 Trillion in 2021
CLEVELAND, Jan. 12, 2018 /PRNewswire/ — US insurance industry revenues are forecast to reach $3.0 trillion in 2021, according to Insurance: United States, a report recently released by Freedonia Focus Reports. Population growth and continued expansion in economic activity are projected to drive demand.
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Revenues for establishments primarily engaged in providing direct healthcare insurance are projected to outpace all other discrete segments. Gains will be attributable to expected growth in population and employment, resulting in higher insurance enrollment. In addition, providers will continue to benefit from rising healthcare spending, which will lead to some increases in premiums and boost demand in value terms.
Life insurance revenues are expected to grow as younger population cohorts start families and drive a rebound in the number of births, an event which often prompts life insurance purchases. Demand for property and casualty insurance is projected to rise as the size of the building stock, number of motor vehicles in use, and business activity continue to expand.
These and other key insights are featured in Insurance: United States. This report forecasts US insurance revenues in nominal US dollars to 2021. Insurance revenues are segmented by establishment type in terms of:
- direct healthcare
- direct life
- direct property and casualty
- agencies and brokerages
- other insurance establishments such as third party administrators of insurance and pension funds and claims adjusters
To illustrate historical trends, total revenues, the various segments, and trade are provided in annual series from 2006 to 2016.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
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SOURCE The Freedonia Group