US Insurance Revenues to Reach $3.0 Trillion in 2021

12/22/2017

Cleveland, OH, December 22, 2017 — US insurance industry revenues are forecast to reach $3.0 trillion in 2021, according to Insurance: United States, a report recently released by Freedonia Focus Reports. Population growth and continued expansion in economic activity are projected to drive demand.

Revenues for establishments primarily engaged in providing direct healthcare insurance are projected to outpace all other discrete segments. Gains will be attributable to expected growth in population and employment, resulting in higher insurance enrollment. In addition, providers will continue to benefit from rising healthcare spending, which will lead to some increases in premiums and boost demand in value terms.

Life insurance revenues are expected to grow as younger population cohorts start families and drive a rebound in the number of births, an event which often prompts life insurance purchases. Demand for property and casualty insurance is projected to rise as the size of the building stock, number of motor vehicles in use, and business activity continue to expand.

These and other key insights are featured in Insurance: United States. This report forecasts US insurance revenues in nominal US dollars to 2021. Insurance revenues are segmented by establishment type in terms of:

  • direct healthcare
  • direct life
  • direct property and casualty
  • reinsurance
  • agencies and brokerages
  • other insurance establishments such as third party administrators of insurance and pension funds and claims adjusters

To illustrate historical trends, total revenues, the various segments, and trade are provided in annual series from 2006 to 2016.

More information about the report is available at https://www.freedoniafocusreports.com/Insurance-United-States-FF95012/.