What is Financial Management Insurance Market?
Financial Management Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. Insurance plans pay for medical emergencies, hospitalization, contraction of any illnesses and treatment, and medical care required in the future. Financial institutions to help them mitigate their exposures and develop adequate risk transfer solutions within a sector that is embarking on a major transformation, driven by fast-paced technology adoption, growing ESG issues, and geopolitical tensions.
Highlights from Financial Management Insurance Market Study
Attributes | Details |
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Study Period | 2017-2026 |
Base Year | 2020 |
Unit | Value (USD Million) |
Key Companies Profiled | Allianz (Germany), AXA (France), Ping An Insurance (China), Prudential Financial (United States), Metlife (United States), Berkshire Hathaway (United States), Prudential plc (United States), Aviva (United Kingdom), Manulife Financial (Canada) and American International Group (AIG) (United States) |
The global financial management insurance market is concentrated, and the vendors are deploying growth strategies such as maintaining agents and offering indemnity that covers specific risks to compete in the market. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions and it maintains their growth at the competitive edge. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Financial Management Insurance market throughout the forecasted period.
Allianz (Germany), AXA (France), Ping An Insurance (China), Prudential Financial (United States), Metlife (United States), Berkshire Hathaway (United States), Prudential plc (United States), Aviva (United Kingdom), Manulife Financial (Canada) and American International Group (AIG) (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Dai-ichi Life Holdings (Japan), CNP Assurances (France), China Life Insurance (China), Power Financial Corp (India) and HDFC ERGO General Insurance Co (India). Financial Management Insurance Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Child, Adult and Elder |
Type | Health Insurance, Motor Insurance, Home Insurance and Fire Insurance |
Category | Life,Non-Life |
Distribution Channel | Online,Agent,Broker,Others |
On the basis of geography, the market of Financial Management Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Financial Management Insurance Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Inflation and Changing Lifestyles
- Growing People’s Awareness among the Financial Management Insurance
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Influencing Trends | - Enhancing the Long-Term Efficiency, Resilience and Stability
- Growing demand of Gross Premiums among Life and Non-Life Insurance Sectors in Real Terms
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Restraints | - Concerns with the Financial Literacy
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Road Blocks / Challenges | - Concerns related to Data and Financial Transparency
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Gaps & Opportunities | - Lack of Penetration in most of the Rural Geographies
- Expansion to Unpenetrated markets of the Country due to Insufficient Capital Investment
- Low Insurance Penetration Attributed To Inadequate Capital with Insurers
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Key Target Audience
Financial Management Insurance Services, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
Market Leaders & Development Strategies
On 4th May 2021, Allianz, one of the largest leading insurers and assets managers has become the majority shareholder in Jubilee General Insurance Limited in Kenya, this follows the acquisition of 66% stake in the company. The transaction is a reflection of Allianz’s long-term commitment to Africa and fits with our ambition to gain leadership positions in key markets in the continent
On 4th May 2022, Sanlam is largest non-banking financial Services Company in Africa and Allinza is one of the world’s leading insurers, both agreed to combine their current and future operation across Africa to create the largest pan-Africa non-banking financial services entity on the continent, operating in 29 countries across the continent. Sanlam and Allianz will leverage each other’s strengths to unlock synergies and provide customers with best-in-class, innovative insurance solutions and technical excellence.