Financial Services & Insurance Research News

New study: Global motor vehicle insurance market forecast to 2022

This market research report includes a detailed segmentation of the global motor vehicle insurance market by premium type (personal insurance premiums and commercial insurance premiums). It outlines the market shares for key regions such as the Americas, APAC, and EMEA.

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The key vendors analyzed in this report are Allianz, Allstate Insurance, American International Group, Berkshire Hathaway Homestate, People’s Insurance Company of China, and Ping An Insurance.

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Market overview of the motor vehicle insurance market

 research analyst predicts the global motor vehicle insurance market to grow steadily at a CAGR of around 6% during the forecast period. The increase in automobile sales globally is the primary growth driver for this market.

An increase in per capita income in emerging economies has led to an increase in the sales of automobiles.

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This is driving the global motor vehicle insurance market because governments across the world are making it mandatory to buy insurance policy while purchasing a new vehicle.

Innovations and new insurance product launches are expected to boost the market growth, as indicated by the key findings of this report. The leading insurance players are offering various add-on covers like the zero depreciation motor insurance cover.

This trend is likely to continue well over 2020, and it is expected positively impact insurance sales in new emerging markets.

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