Europe Insurance Brokerage Market Share will Witness a YOY Growth Rate of 5.76% in 2022

The insurance brokerage market share in Europe is likely to post an incremental growth of USD 7.60 billion, accelerating at a CAGR of  5.98% during the forecast period. Technavio's research provides a detailed analysis of the market segments and geographic landscape. It also offers insights into the various growth factors and challenges that are likely to have an impact on market growth. Unlock Free Sample Analysis Report

Insurance Brokerage Market in Europe: Market Segments and Growth Forecasts

The insurance brokerage market report in Europe will provide insights into the current market share of each segment along with growth projections for the next five years.

• The insurance brokerage market in Europe is segmented by Type (Retail and Wholesale) and Geography (UK, France, Germany, and the Rest of Europe).
• The insurance brokerage market share in Europe by the retail segment will be significant during the forecast period.
• Factors such as rising medical costs and a high percentage of the aging population will facilitate the insurance brokerage market growth in the UK.
• 35% of the market's growth will originate from the UK during the forecast period. The UK is the key market for insurance brokerage market in Europe.
• The report provides an accurate prediction of the contribution of all the geographic segments to the growth of the insurance brokerage market size in Europe.

Insurance Brokerage Market in Europe: Trends, Drivers, Challenges

The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

• Increased demand for insurance policies will be a significant factor in driving the growth of the insurance brokerage market in Europe. The expanding population of baby boomers and millennials is generating growth opportunities for medical insurance, life insurance, accidental insurance, and others. Insurance brokers focus on insurance policies that provide maximum benefits for customers and the provision of security and personalized financial services has led to an increased demand for insurance products. 
• An increase in HNWIs will be instrumental in driving the market growth during the forecast period.
• The integration of IT and analytic solutions are the major insurance brokerage market trend in Europe which will positively influence the market value. 
• The conflict between insurance brokers and customers is hindering the insurance brokerage market growth in Europe.

Insurance Brokerage Market in Europe: Vendor Analysis

The market is fragmented due to the presence of several players. Some of the major insurance brokerage market trends in Europe are:

• AmWINS Group Inc.
• Aon Plc
• Arthur J. Gallagher and Co.
• Assured Partners Inc.
• Blythin and Brown Ltd.
• HUB International Ltd.
• Lockton Companies
• Marsh and McLennan Companies Inc.
• NFP Corp.
• Willis Towers Watson Public Ltd. Co.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 5.98%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by USD 7.60 billion.
    
3. What is a key factor driving this market?
   Increased demand for insurance policies will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   UK, France, Germany, and the Rest of Europe are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   35% growth will originate from the UK.
    
6. Who are the leading market vendors?
   The leading vendors in this market are AmWINS Group Inc., Aon Plc, Arthur J. Gallagher and Co., Assured Partners Inc., Blythin and Brown Ltd., HUB International Ltd., Lockton Companies, Marsh and McLennan Companies Inc., NFP Corp., and Willis Towers Watson Public Ltd. Co.
    
7. What are the market segments covered in this report?
   The market is segmented by Type (Retail and Wholesale) and Geography (UK, France, Germany, and Rest of Europe).