New Jersey, United Kingdom, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Marine Insurance Market By Type (Offshore/Energy Insurance, Hull & Machinery Insurance, Cargo Insurance, and Marine Liability Insurance), By Distribution Channel (Retail Brokers, Wholesalers, and Others), By End-User (Traders, Ship Owners, and Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” in its research database
“According to the latest research study, the demand of global Marine Insurance Market size & share expected to reach to USD 31 Billion by 2026 from USD 27 Billion in 2020, at a compound annual growth rate (CAGR) of 4% during the forecast period 2021 to 2026”
How Big is Marine Insurance Industry? Report Overview & Coverage:
Marine insurance is an added advantage as it helps cover the property & environmental damage, loss of life, and accident-associated undue expenditure that occurs during unfortunate incidents. The financial loss of the policyholder at the time of an accident or natural hazard is covered in marine insurance. This advantage is applicable for the cargo & ship owners as well as charterers.
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(The free sample of this report is readily available on request).
Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 187+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Arthur J. Gallagher & Co.
- American International Group Inc.
- American Financial Group Inc.
- Allianz SE
- Axa S.A.
- Aon Plc
- Berkshire Hathaway Specialty Insurance
- Swiss Re
- Zurich Insurance Group
- Assicurazioni Generali S.p.A.
- Tokio Marine Holdings Inc.
- Aspen Insurance Holdings Limited
- Chubb Limited
- The Hanover Insurance Group Inc.
- Markel Corporation
- ProSight Global Inc.
- Sompo International Holdings Ltd
- RLI Corp
- The Hartford
- The Travelers Indemnity Company
- HDI Global SE
- Intact Insurance Company
- Beazley Group Inc.
- Starr International Company
- Marsh LTD.
Key questions answered in this report:
- What is the projected market size & growth rate of Marine Insurance Market?
- What are the key driving factors for the growth of Marine Insurance Market?
- What are the top companies operative in Marine Insurance Market?
- What segments are covered in Marine Insurance Market?
- How can I get free sample reports/company profiles of the Marine Insurance Market?
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Market Growth Factors
Major factors driving the global marine insurance market include the rising adoption of analytics & telematics to gain better assessment in case of existing or future risks occurring in the marine business. The growing awareness toward marine insurance, rising damages to the ships or cargo vessels, and other factors are other factors augmenting the market growth. The rising opportunities for marine insurance in the developing economies coupled with the integration of IoT helps in the market expansion. The marine insurance market is expected to experience lucrative opportunities by offering a simple process for claiming, risk monitoring, loss prevention, or prediction. The coverage of a broad range of risk factors and easy trading activities is likely to contribute to market growth. But, the sudden impact of lockdown and increments in marine insurance will restrain the market growth. Even other uncertainties such as changing trade patterns, climate changes, demand for decarbonization, geopolitical, economic, and political tensions, among others further hinder global marine insurance market growth.
Global Marine Insurance Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 27 Billion |
| Market Forecast for 2026 | USD 31 Billion |
| Expected CAGR Growth | CAGR 4% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | Arthur J. Gallagher & Co., American International Group, Inc., American Financial Group, Inc., Allianz SE, Axa S.A., Aon Plc, and Others and Others |
| Segments Covered | By Type, By Distribution Channel, By End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America and Middle East & Africa |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
Market Segmentation
The global marine insurance market is segmented based on type, distribution channel, end-user, and regions.
On the basis of type, the global marine insurance market is divided into offshore/energy insurance, hull & machinery insurance, cargo insurance, and marine liability insurance. The Cargo insurance segment is expected to dominate due to the rising free trade agreements. Furthermore, the supply & demand for sea transportation across the globe is projected to propel the demand for cargo insurance over the forecast period. By distribution channel, the market is classified into retail brokers, wholesalers, and others. Based on end-user, the marine insurance market is categorized into traders, ship owners, and others.
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Regional Dominance:
Europe is expected to witness highest growth due to the growing business opportunities in the region over the forecast period. The positive impact of marine transport on the European market is projected to propel the market in this region. The Asia Pacific is likely to account for the highest growth during the forecast period due to the high number of players operating in the marine insurance in this region in order to offer quality services. Additionally, growing trading activities in the Asia Pacific are anticipated to have a positive impact on the marine insurance market.
Browse the full “Marine Insurance Market By Type (Offshore/Energy Insurance, Hull & Machinery Insurance, Cargo Insurance, and Marine Liability Insurance), By Distribution Channel (Retail Brokers, Wholesalers, and Others), By End-User (Traders, Ship Owners, and Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/marine-insurance-market-report
This report segments the marine insurance market as follows:
Global Marine Insurance Market: By Type Segment Analysis
- Offshore/Energy Insurance
- Cargo Insurance
- Marine Liability Insurance
- Hull & Machinery Insurance
Global Marine Insurance Market: By Distribution Channel Segment Analysis
- Retail Brokers
- Wholesalers
- Others
Global Marine Insurance Market: By End-User Segment Analysis
- Traders
- Ship Owners
- Others
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