2009-美国保险行业分析与预测 Insurance in the United States.pdf
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1、 Datamonitor USA 245 Fifth Avenue 4th Floor New York, NY 10016 USA t: +1 212 686 7400 f: +1 212 686 2626 e: Datamonitor Europe 119 Farringdon Road London EC1R 3DA United Kingdom t: +44 20 7551 9000 f: +44 20 7675 7500 e: Datamonitor Middle East and North America Datamonitor PO Box 24893 Dubai, UA
2、E t: +49 69 9754 4517 f: +49 69 9754 4900 e: datamonitormena Datamonitor Asia Pacific Level 46, 2 Park Street Sydney, NSW 2000 Australia t: +61 2 8705 6900 f: +61 2 8705 6901 e: United States - Insurance 0072 - 2087 - 2009 Datamonitor. This profile is a licensed product and is not to be photocopie
3、d Page 1 INDUSTRY PROFILE Insurance in the United States Reference Code: 0072-2087 Publication Date: August 2010 EXECUTIVE SUMMARY United States - Insurance 0072 - 2087 - 2009 Datamonitor. This profile is a licensed product and is not to be photocopied Page 2 EXECUTIVE SUMMARY Market value The Unite
4、d States insurance market shrank by 8.1% in 2009 to reach a value of $1,139.7 billion. Market value forecast In 2014, the United States insurance market is forecast to have a value of $1,481.2 billion, an increase of 30% since 2009. Market segmentation I Non-life insurance is the largest segment of
5、the insurance market in the United States, accounting for 56.8% of the markets total value. Market segmentation II The United States accounts for 31% of the global insurance market value. Market rivalry The U.S. market is very fragmented with many specialised and regional players as opposed to natio
6、nal conglomerates. CONTENTS United States - Insurance 0072 - 2087 - 2009 Datamonitor. This profile is a licensed product and is not to be photocopied Page 3 TABLE OF CONTENTS EXECUTIVE SUMMARY 2 MARKET OVERVIEW 7 Market definition 7 Research highlights 8 Market analysis 9 MARKET VALUE 10 MARKET SEGM
7、ENTATION I 11 MARKET SEGMENTATION II 12 FIVE FORCES ANALYSIS 13 Summary 13 Buyer power 14 Supplier power 15 New entrants 16 Substitutes 17 Rivalry 18 LEADING COMPANIES 19 Liberty Mutual Holding Company 19 American International Group, Inc. 22 MetLife Inc 26 State Farm Insurance 30 MARKET FORECASTS 3
8、4 Market value forecast 34 MACROECONOMIC INDICATORS 35 APPENDIX 37 Methodology 37 Industry associations 38 Related Datamonitor research 38 Disclaimer 39 CONTENTS United States - Insurance 0072 - 2087 - 2009 Datamonitor. This profile is a licensed product and is not to be photocopied Page 4 ABOUT DAT
9、AMONITOR 40 Premium Reports 40 Summary Reports 40 Datamonitor consulting 40 CONTENTS United States - Insurance 0072 - 2087 - 2009 Datamonitor. This profile is a licensed product and is not to be photocopied Page 5 LIST OF TABLES Table 1: United States insurance market value: $ billion, 200509 10 Tab
10、le 2: United States insurance market segmentation I:% share, by value, 2009 11 Table 3: United States insurance market segmentation II: % share, by value, 2009 12 Table 4: Liberty Mutual Holding Company: key facts 19 Table 5: American International Group, Inc.: key facts 22 Table 6: American Interna
11、tional Group, Inc.: key financials ($) 23 Table 7: American International Group, Inc.: key financial ratios 24 Table 8: MetLife Inc: key facts 26 Table 9: MetLife Inc: key financials ($) 27 Table 10: MetLife Inc: key financial ratios 28 Table 11: State Farm Insurance: key facts 30 Table 12: State Fa
12、rm Insurance: key financials ($) 32 Table 13: State Farm Insurance: key financial ratios 32 Table 14: United States insurance market value forecast: $ billion, 200914 34 Table 15: United States size of population (million), 200509 35 Table 16: United States GDP (constant 2000 prices, $ billion), 200
13、509 35 Table 17: United States GDP (current prices, $ billion), 200509 35 Table 18: United States inflation, 200509 36 Table 19: United States consumer price index (absolute), 200509 36 Table 20: United States exchange rate, 200509 36 CONTENTS United States - Insurance 0072 - 2087 - 2009 Datamonitor
14、. This profile is a licensed product and is not to be photocopied Page 6 LIST OF FIGURES Figure 1: United States insurance market value: $ billion, 200509 10 Figure 2: United States insurance market segmentation I:% share, by value, 2009 11 Figure 3: United States insurance market segmentation II: %
15、 share, by value, 2009 12 Figure 4: Forces driving competition in the insurance market in the United States, 2009 13 Figure 5: Drivers of buyer power in the insurance market in the United States, 2009 14 Figure 6: Drivers of supplier power in the insurance market in the United States, 2009 15 Figure
16、 7: Factors influencing the likelihood of new entrants in the insurance market in the United States, 2009 16 Figure 8: Factors influencing the threat of substitutes in the insurance market in the United States, 2009 17 Figure 9: Drivers of degree of rivalry in the insurance market in the United Stat
17、es, 2009 18 Figure 10: American International Group, Inc.: revenues this serves to strengthen supplier power. Equally, however, the chance of forward integration by suppliers is also minimal. In order to reduce costs and increase operational efficiency, many insurance companies are outsourcing back-
18、office processing tasks to offshore companies. The nature of outsourcing is such that switching would interrupt operations therefore incurring significant costs. Finally, it is important for insurance companies to retain suitably qualified employees, with actuarial, investment, law and similar skill
19、s. These are quite specialized, and can attract high salaries. Overall supplier power is assessed as strong within the US insurance market. FIVE FORCES ANALYSIS United States - Insurance 0072 - 2087 - 2009 Datamonitor. This profile is a licensed product and is not to be photocopied Page 16 New entra
20、nts Figure 7: Factors influencing the likelihood of new entrants in the insurance market in the United States, 2009 Source: Datamonitor D A T A M O N I T O R As insurance companies in the US are regulated at a state level, few companies offer their services throughout the country, this can pose a pr
21、oblem or new entrants who will need to ensure they meet separate requirements of each state. Government regulation of the sector is fairly high but varies regionally as regulation is state based. However, the National Association of Insurance Commissioners (NAIC) are striving towards uniformity in r
22、egulation. Regulation in the US is carried out at state level with each state having its own insurance regulator. The impending Dodd-Frank Bill will, according to the NAIC, maintain the status quo in this regard. Entry to the market as a well developed insurance company is capital intensive and play
23、ers need to ensure some level of integration if entry to the market is to be a success. Weak market growth reduces opportunities for new entrants. However, there is little differentiation in the products provided by companies. Lack of diversity places new entrants in a weak position. Additionally, i
24、n order to compete with larger established companies, new entrants must invest large funds into advertising and marketing campaigns as well as perform extensive research on the market. Overall the threat from new entrants to the market is considered as moderate. FIVE FORCES ANALYSIS United States -
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