The General Insurance industry provides protection for individuals, households and businesses from the financial loss associated with events such as car accidents, floods, break-ins and malpractice. General insurers provide this coverage at a fraction of the potential loss by spreading risk over many policies. The industry earns revenue from the sale of insurance policies (premium income) and the investment of premium reserves in bonds, stocks and other assets (investment income). Over 95.0% of the industry's premium income is derived from the renewal of policies that relate to existing risk, with the rest coming from a change in risk exposure or pricing conditions.
This industry includes general insurers and reinsurers. General insurers underwrite insurance policies to protect individuals and businesses from financial loss associated with property, casualty, liability and other risks. Underwriting involves assuming risks and assigning premiums. Reinsurers assume all or part of the risk associated with existing insurance policies underwritten by other insurers.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.