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Insurance Market to Reach $28.5 Trillion, Globally, by 2032 at 13.5% CAGR: Allied Market Research

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The notable factors positively affecting the insurance market include a rise in adoption for life insurance services among individuals and an increase in development strategies by public and private companies which propel the market growth.

WILMINGTON, Del., Aug. 9, 2024 /PRNewswire/ — Allied Market Research published a report, titled, Insurance Market by Type (Life Insurance and General Insurance), and Distribution Channel (Insurers, Insurance Brokers and Agencies, Banks and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the insurance market was valued at $9.0 trillion in 2023, and is estimated to reach $28.5 trillion by 2032, growing at a CAGR of 13.5% from 2024 to 2032.

Get Your Sample Report & TOC Today: https://www.alliedmarketresearch.com/request-sample/A17037 

(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and COVID-19 Impact Analysis)

118 – Tables 

54 – Charts

350 – Pages

Prime determinants of growth 

Enforcement of strong rules by banks and financial institutions for providing insurance services can hinder market growth. Furthermore, technological advancements in life insurance services offer lucrative market opportunities for the market players. 

Report coverage & details:

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Report Coverage

Details

Forecast Period

2024–2032

Base Year

2023

Market Size in 2022

$9.0 trillion

Market Size in 2032

$28.5 trillion

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CAGR

13.5 %

No. of Pages in Report

350

Segments covered

Type, Distribution Channel and Region.  

Drivers

  • Rise in adoption for life insurance services among individuals 
  • Increase in development strategies by public and private companies 

 

Opportunities

Technological advancements in life insurance services  

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Restraints

Enforcement of strong rules by banks and financial institutions for providing insurance services  

Purchase This Comprehensive 188-Page Report (PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/4fynIhR 

The life insurance segment held the highest market share in 2023.

Based on type, the life insurance segment held the highest market share in 2023. This dominance is often attributed to the fundamental role life insurance plays in providing peace of mind and long-term financial security. Life insurance policies offer various benefits, including death benefits that provide a financial cushion to beneficiaries in the event of the policyholder’s death, as well as living benefits such as cash value accumulation and supplemental income through annuities.

The insurance brokerage and agencies segment held the highest market share in 2023.

Based on the distribution channel, the large enterprise segment held the highest market share in 2023. The proliferation of digital technology has helped agencies to offer the products directly to consumers through online platforms, mobile apps, and digital marketing channels. Customers may easily investigate, evaluate, and purchase life insurance products from smartphones. 

North America held the highest market share in 2023

Based on region, North America held the highest market share in terms of revenue in 2023 and is expected to boost in terms of revenue throughout the forecast timeframe. Well-developed infrastructure is accelerating the adoption of the most recent technologies, including insurance in North America.

Players: –

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  • UnitedHealth Group Incorporated
  • Centene Corporation
  • Elevance Health, Inc.
  • AXA S.A.
  • Allianz SE
  • State Farm Group
  • Progressive Corporation
  • HDI V.a.G.
  • Zurich Ins Group
  • MetLife Inc.

The report provides a detailed analysis of these key players in the global insurance market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Access Your Customized Sample Report & TOC Now: https://www.alliedmarketresearch.com/request-for-customization/A17037 

Recent Industry Development:

  • In May 2024, Transcarent launched an AI-driven solution, to simplify healthcare navigation. The newly introduced AI chatbot, developed on the ChatGPT framework, is designed to address common health insurance inquiries, including cost estimates for medical services, deductible queries, and provider recommendations.
  • In May 2024, Everest Insurance unveiled its Australian Insurance operations following approval from the Australian Prudential Regulation Authority.
  • In May 2023, the Insurance Regulatory and Development Authority of India (IRDAI) launched a bundled product which will provide life, health, casualty and property cover in a single insurance policy at an affordable price.

Get More Information Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A17037 

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Key Benefits for Stakeholders
  • This report provides a quantitative analysis of the insurance market segments, current trends, estimations, and dynamics of the insurance market analysis from 2023 to 2032 to identify the prevailing insurance market opportunities.
  • Market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the insurance market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global insurance market statistics.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional and global insurance market trends, key players, market segments, application areas, and market growth strategies.
Insurance Market Report Highlights

By Type

  • Life Insurance
  • General Insurance

By Distribution Channel

  • Insurers
  • Insurance Brokers and Agencies
  • Banks
  • Others

By Region

  • North America (U.S., Canada)
  • Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • Latin America (Argentina, Brazil, Colombia, Rest of Latin America)
  • MEA (Saudi Arabia, South Africa, UAE, Rest of MEA)

Key Market Players : Zurich Ins Group, Allianz SE, State Farm Group, AXA S.A., Elevance Health, Inc., Progressive Corporation, Centene Corporation, MetLife Inc., UnitedHealth Group Incorporated, HDI V.a.G.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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David Correa
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Delaware 19801 USA.
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Fax: +1-800-792-5285
[email protected]

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Blue Ridge Partners Promotes Growth Strategist Nick Walmsley to Managing Director

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Global consultancy strengthens its European leadership team as part of ongoing growth strategy

LONDON, Nov. 26, 2024 /PRNewswire/ — Blue Ridge Partners is pleased to announce the promotion of Nick Walmsley to Managing Director, strengthening its European leadership team and commitment to client growth across the region.

Nick Walmsley, who joined Blue Ridge Partners in 2017, brings over 20 years of experience in growth strategy and investing. Throughout his tenure with the firm, Nick has consistently delivered exceptional results for clients, and his appointment to Managing Director reflects his dedication and impact. Prior to joining Blue Ridge Partners, Nick was founder and partner of a $500M AUM investment firm involved in over 200 transactions across Europe, North America, and Asia-Pacific. He began his career at Bain & Company, where he served in the private equity practice in both London and San Francisco.

“Nick has been an invaluable member of our team over the past seven years, demonstrating his ability to create value for our clients and our firm,” said Jim Corey, CEO of Blue Ridge Partners. “With his unique blend of consulting, operational, and investment management experience, Nick is exceptionally well-prepared to serve our clients as Managing Director.”

Blue Ridge Partners is delighted to have Nick step into this new role, further enhancing its capabilities to drive client success across Europe.

About Blue Ridge Partners:

Blue Ridge Partners is a global management consulting firm exclusively focused on helping companies accelerate profitable revenue growth. We have worked with more than 1,300 companies to improve their strategic understanding of markets and customers, deepen and expand their customer relationships, and enhance marketing and sales performance.

Our clients include over 130 private equity firms and their portfolio companies – supporting them during deal evaluation, due diligence, and post-acquisition. We have a reputation for helping companies grow faster by rolling up our sleeves, working collaboratively, and delivering measurable impact quickly and more efficiently than large consultancies.

For further information please contact us at [email protected] or visit us at www.blueridgepartners.com.

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BNP Paribas, AXA and Bloomberg’s former executive joins fintech Premialab

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Diane Lansard, further expands Premialab’s marketing footprint bringing in her extensive banking and asset management expertise to the fintech dedicated to quantitative investment strategies.

LONDON, Nov. 26, 2024 /PRNewswire/ — Premialab announces the appointment of Diane Lansard, as Head of Marketing. Based in London, Ms. Lansard will lead the marketing strategy of the leading independent platform dedicated to quantitative strategies. Before joining PremiaLab, Ms. Lansard served a wide range of institutional clients in buy-and sell-side leadership roles at BNP Paribas, AXA, Bloomberg, and M&G Investments.

Ms. Lansard has over 15 years’ experience in banking, asset management and fintech solutions. She will be responsible to execute and scale Premialab’s marketing initiatives, providing data and analytics solutions to asset managers, pension funds, insurance companies and sovereign wealth funds globally.

Adrien Geliot, CEO of Premialab, said: “We are thrilled to welcome Diane to our team as we continue to scale our presence globally. Her extensive experience in finance and innovative approach to marketing, will play a pivotal role in driving our growth efforts. Diane’s expertise will further strengthen our position as a leader in data and analytics for institutional investors.”

The announcement follows recent senior appointments at Premialab including John Macpherson, former Managing Director at Goldman Sachs, Citibank, and Nomura; Marc Fisher, former Managing Director at Citibank with a prior position at Deutsche Bank; and Georgios Sittas, former Managing Director at HSBC, Standard Chartered, and previously a director at Lehman Brothers.

Recognized as the leading independent platform for data and analytics on quantitative strategies, Premialab’s capital markets infrastructure is currently used by leading institutional investors, accelerating their digitalization and enhancing performance and risk control while reducing costs. The Platform is already providing data to institutional clients representing over $20 Trillion of assets under management.

Notes to Editors

About PremiaLab

Premialabis the leading independent platform providing data, analytics and risk solutions on quantitative and multi-asset strategies in collaboration with leading investment banks and institutional investors globally. Combining intelligent technology with a unique source of information the platform empowers asset allocators to make better investment decisions whilst achieving utmost time and cost efficiency.

With offices in London, Paris, New York, Hong Kong, Sydney, and Dubai, its international team is dedicated to supporting a global client base with the most up-to-date QIS dataset, advanced portfolio construction, performance and risk analytics. The firm has established strong partnerships with the top 18 investments banks, global asset managers, pensions funds and insurance companies.

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For more information please visit: www.premialab.com

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Paratus Increases Full-Year 2024 Earnings Guidance and Provides Update on Operations in Mexico

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HAMILTON, Bermuda, Nov. 26, 2024 /PRNewswire/ — Paratus Energy Services Ltd. (Oslo: PLSV) (“Paratus” or the “Company”) announces an upward revision of its full-year 2024 EBITDA guidance and provides commentary on the Company’s rig operations in Mexico, operated through its wholly-owned subsidiary Fontis Holdings Ltd. (“Fontis”).

Following strong operational execution year-to-date, Paratus is raising its full-year 2024 EBITDA guidance to $250-260 million, representing a mid-point increase of $25 million from the previous guidance range of $220-240 million. Further details will be provided on the quarterly earnings call on November 29, 2024.

Paratus has noted recent reports regarding a potential temporary reduction in rig activity in Mexico, and consequently the Company wishes to provide an update as well as clarify the potential financial impact to the Company of such dynamics. The contracts for all of Fontis’ jack-ups with the client permit activity to be temporarily ceased for up to 45 days during the contract term, without revenue being generated during such period. However, any deferred days will extend the contract duration accordingly. Fontis has received notification from its client that the Courageous will temporarily cease operations for 45 days due to delays in the client’s preparatory activities at its next location. Operations at the Courageous’ current location is expected to be completed in early December 2024, upon which the rig will remain in standby at its location. The estimated EBITDA impact of a 45-day deferral through the end of the firm contract period is expected to be approximately $3 million.

Paratus has accommodated and priced such flexibility into its contracts in Mexico to allow its client to execute its operations more efficiently. The Company remains highly focused on supporting its client and continuing to strengthen the long-standing relationship it has had for over a decade, and the Company has taken note of the public comments the client has recently provided about its future plans for operations and payments to its suppliers.

This announcement contains information considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The announcement was published by Baton Haxhimehmedi, CFO of Paratus, on the time and date set out above.

For further information, please contact:
Baton Haxhimehmedi, CFO
[email protected]
+47 406 39 083

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