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2024 U.S. Industry Statistics & Market Forecast - Insurance Carriers and Related Activities


Market Size & Industry Statistics

The total U.S. industry market size for Insurance Carriers and Related Activities: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

Major trends affect the Insurance Carriers and Related Activities industry include:
  1. Increased digitization and use of technology
  2. Shift towards more personalized insurance products
  3. Greater emphasis on sustainability and climate risk in underwriting
  4. Regulatory changes affecting policy pricing and coverage
  5. Rise of insurtech startups disrupting traditional models
  6. Expansion of cyber insurance due to increased digital threats
  7. Adoption of advanced data analytics and artificial intelligence
  8. Demand for health and wellness-focused insurance products
  9. Impact of global economic fluctuations on insurance premiums
  10. Growing consumer expectations for digital and mobile services


Product & Services Breakdown

Research products and services in the Insurance Carriers and Related Activities industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Brokering And Dealing Services For Equities

Trading Debt Instruments On Own Account - Net Gains (Losses)

Trading Equities On Own Account - Net Gains (Losses)

Trading Other Securities And Commodity Contracts On Own Account - Net Gains (Losses)

Financial Planning And Investment Management Services

Underwriting Services For Life Insurance - Net Premiums Earned

Underwriting Services For Pensions And Annuities - Fees

Underwriting Services For Health And Accident Insurance - Net Premiums Earned

Underwriting Services For Surety Bonds And Related Products - Net Premiums Earned

Underwriting Services For Vehicle Property And Liability Insurance Policies - Net Premiums Earned

Underwriting Services For Property And Liability Insurance Policies, Except Vehicle - Net Premiums Earned

Underwriting Services For Product Liability Insurance Policies - Net Premiums Earned

Underwriting Services For Other General Liability Insurance Policies, Not Elsewhere Specified - Net Premiums Earned

Underwriting Services For Travelers' Insurance Policies - Net Premiums Earned

Underwriting Services For Title Insurance Policies - Net Premiums Earned

Underwriting Services For Other Direct Insurance Policies - Net Premiums Earned

Reinsurance Services For Life And Health Insurance And Annuities - Premiums Assumed

Reinsurance Services For Property And Casualty Insurance - Premiums Assumed

Reinsurance Services, Not Elsewhere Specified - Premiums Assumed

Insurance Brokerage And Agency Services - Commissions

Claims Adjustment Services

Consulting Services For Insurance

Insurance Support Services - Third Party Administration

Title Search, Title Reconveyance, And Title Abstract Service Fees

Other Services



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry Average Percent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Insurance Carriers and Related Activities company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Insurance Carriers and Related Activities industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Insurance Carriers and Related Activities measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 11%

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Chief Executives0%
General and Operations Managers4%
Operations Specialties Managers 5%
Business and Financial Operations Occupations 25%
Business Operations Specialists 18%
Claims Adjusters, Appraisers, Examiners, and Investigators 9%
Claims Adjusters, Examiners, and Investigators 8%
Financial Specialists 8%
Financial Analysts and Advisors 5%
Insurance Underwriters 8%
Computer and Mathematical Occupations 8%
Computer Occupations 7%
Legal Occupations 5%
Healthcare Practitioners and Technical Occupations 9%
Healthcare Diagnosing or Treating Practitioners 8%
Registered Nurses 7%
Registered Nurses 7%
Sales and Related Occupations 19%
Sales Representatives, Services 18%
Insurance Sales Agents 17%
Insurance Sales Agents 17%
Office and Administrative Support Occupations 31%
Information and Record Clerks 13%
Customer Service Representatives 11%
Customer Service Representatives 11%
Other Office and Administrative Support Workers 10%
Insurance Claims and Policy Processing Clerks 8%
Insurance Claims and Policy Processing Clerks 8%
Source: Bureau of Labor Statistics


Insurance Carriers and Related Activities Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Insurance Carriers and Related Activities industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Insurance Carriers and Related Activities industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Insurance Carriers and Related Activities industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Insurance Carriers and Related Activities

  • Apr 02, 2024: HEALTHEQUITY, INC. (Draper, UT) awarded $9,335
  • Apr 02, 2024: EUROCLINICA, LDA (Praia, SANTIAGO) awarded $135,899
  • Apr 02, 2024: NORIDIAN HEALTHCARE SOLUTIONS, LLC (Fargo, ND) awarded $313,797,745
  • Apr 02, 2024: SEGURCAIXA ADESLAS, SOCIEDAD ANONIMA DE SEGUROS Y REASEGUROS. (Madrid, MADRID) awarded $43,605
  • Apr 01, 2024: LISUNGI SA (Kinshasa, ) awarded $904,097
  • Apr 01, 2024: PAK-QATAR FAMILY TAKAFUL LIMITED (Karachi, SINDH) awarded $15,649




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