Insurance Carriers - Market Size, Financial Statistics, Industry Trends

Industry Overview

This industry group comprises establishments primarily engaged in underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies and investing premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance carriers are establishments that are primarily engaged in initially underwriting and assuming the risk of annuities and insurance policies. Reinsurance carriers are establishments that are primarily engaged in assuming all or part of the risk associated with an existing insurance policy (or set of policies) originally underwritten by another insurance carrier. Industries are defined in terms of the type of risk being insured against, such as death, loss of employment because of age or disability, and/or property damage. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.
Source: U.S. Census Bureau

Insurance Carriers Market Size

This report includes historical and forecasted market sizes and industry trends for Insurance Carriers. It reveals overall market dynamics from 2020 through the present, and predicts industry growth or shrinkage through 2030. Revenue data include both public and private companies in the Insurance Carriers industry.

	Historical					Forecasted
	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030
Market Size (Total Revenue)	Included in Report
% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company

Source: U.S. government financial data



Pell Research's advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size statistics include revenue generated from all products and services sold within the Insurance Carriers industry.

Geographic Breakdown by U.S. State

Insurance Carriers market share by state pinpoints local opportunities based on regional revenue statistics. Growth rate for each state is affected by regional economic conditions. Data by state can be used to locate profitable and nonprofitable locations for Insurance Carriers companies in the United States.

Distribution by Company Size

Company Size	All Industries	Insurance Carriers
Small Business (< 5 Employees)	Included
Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Industry Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:

• Cost of goods sold
• Compensation of officers
• Salaries and wages
• Employee benefit programs
• Rent paid
• Advertising and marketing budgets

The report includes a traditional income statement from an "average" Insurance Carriers company (both public and private companies are included).

	Industry Average	Percent of Sales
Total Revenue	Included
Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit

Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial Ratio	Industry Average
Profitability Ratios	Included
Profit Margin
ROE
ROA
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Products and Services Mix

Product lines and services in the Insurance Carriers industry accounting for the largest revenue sources.

Product Description	Description	Revenue ($ Millions)
Industry total	Included
Health and medical insurance products - premiums
Comprehensive medical service plans
Annuity products
Vehicle prop & liability (casualty) insurance products - premiums
Life insurance products - premiums
Personal vehicle insurance products - premiums
Property & liability (exc vehicle) insurance products - premiums
Indiv serv med cov plans (incl supp medicare, champus, & oth)
Variable deferred annuities

Compensation and Salary Surveys

Salary information for employees working in the Insurance Carriers industry.

Title	Percent of Workforce	Bottom Quartile	Average (Median) Salary	Upper Quartile
Management Occupations	9%	Included
Chief Executives	0%
General and Operations Managers	2%
Business and Financial Operations Occupations	29%
Business Operations Specialists	20%
Claims Adjusters, Appraisers, Examiners, and Investigators	11%
Claims Adjusters, Examiners, and Investigators	10%
Financial Specialists	9%
Financial Analysts and Advisors	6%
Insurance Underwriters	7%
Computer and Mathematical Occupations	12%
Computer Occupations	10%
Healthcare Practitioners and Technical Occupations	7%
Health Diagnosing and Treating Practitioners	5%
Sales and Related Occupations	9%
Sales Representatives, Services	8%
Insurance Sales Agents	7%
Insurance Sales Agents	7%
Office and Administrative Support Occupations	35%
Information and Record Clerks	14%
Customer Service Representatives	12%
Customer Service Representatives	12%
Other Office and Administrative Support Workers	13%
Insurance Claims and Policy Processing Clerks	10%
Insurance Claims and Policy Processing Clerks	10%

Government Contracts

The federal government spent an annual total of $1,408,647,098 on the Insurance Carriers industry. It has awarded 912 contracts to 108 companies, with an average value of $13,043,029 per company.

Top Companies in Insurance Carriers and Adjacent Industries

Company	Address	Revenue ($ Millions)
Included