2007 Worldwide Insurance Agencies & Brokerages Industry Report

Countries covered: Global


Insurance profits remain stable worldwide.

According to a recent report released by Barnes Reports and entitled “Worldwide Insurance Agencies & Brokerages Industry”, profitability of insurance services grows at a steady pace. Large countries feature a profitability growth rate of 3-14% a year.

America remains the world’s insurance leader with annual profit of $155.6bn in 2006 (up 9% on the previous year). Experts predict an 8% growth rate within next 2 years. Profit forecast is as follows: $169.45bn in 2007, $183.55bn in 2008.

Japan’s insurance market is rather unstable, but it earns high revenues and ranks second in profitability after the USA. In 2005, profitability soared by 12.4%, but it plummeted in 2006 as insurers’ profits rose by mere 3.6%. In 2007, the market will look more healthy with 7% growth rate and $103bn annual profit. In 2008, profitability growth will be more modest: 5.2% and $109.1BN in revenues.

Germany follows the suit and ranks the third. Profitability growth rate breakdown (incl. forecast): 7% in 2005, 3.6% in 2006, 6% in 2007 ($48.8bn in revenues), 4.6% in 2008 ($51bn in revenues).

The reports analyses activities of independent insurance agencies dealing with all insurance types, excluding life insurance.

The annual report "Worldwide Insurance Agencies & Brokerages Industry analyses the state of the market for insurance services in 45 countries. This report also provides the most current and accurate information on sales, employment, number of establishments in the sector; it gives sector’s development forecasts and its 5-year trend analysis.

Contents

The Insurance Agencies & Brokerages Industry report features 2007 current and 2008 forecast estimates on the size of the industry (sales, establishments, employment) for the 47 largest world countries. The report also includes industry definition, 5-year historical trends on industry sales, establishments and employment and estimates on up to 10 sub-industries, including insurance consulting, insurance adjusters, pension planning, and retirement planning.

1-Argentina,

2-Australia,

3-Austria,

4-Belgium,

5-Brazil,

6-Canada,

7-Chile,

8-China,

9-Colombia,

10-Czech Rep,

11-Denmark,

12-Egypt,

13-Finland,

14-France,

15-Germany,

16-Greece,

17-Hungary,

18-India,

19-Indonesia,

20-Iran,

21-Ireland,

22-Israel,

23-Italy,

24-Japan,

25-Malaysia,

26-Mexico,

27-Netherlands,

28-New Zealand,

29-Norway,

30-Pakistan,

31-Phillipines,

32-Poland,

33-Portugal,

34-Russia,

35-Saudi Arabia,

36-Singapore,

37-South Africa,

38-South Korea,

39-Spain,

40-Sweden,

41-Switzerland,

42-Taiwan,

43-Thailand,

44-Turkey,

45-United Kingdom,

46-United States,

47-Venezuela,

48-Appendix: Definitions & Terms