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Flood Insurance Market Share

  • Report ID: GMI9498
  • Published Date: May 2024
  • Report Format: PDF

Flood Insurance Market Share

Allianz SE, AXA SA, and Nationwide Mutual Insurance Company held significant market share of over 8% revenue share in 2023. These major players in the flood insurance industry compete fiercely by providing comprehensive flood insurance coverage. Leveraging their extensive networks and financial strength, they offer competitive pricing and superior service. Emphasizing risk management expertise and innovative solutions, they tackle the evolving challenges of floods. Their aim is to position themselves as trusted partners for individuals and businesses seeking reliable flood insurance protection.

In the flood insurance market, Allianz, AXA, and Nationwide Insurance Company vie for market share by differentiating themselves through tailored coverage options, flexible policy terms, and efficient claims processing. They leverage their strong brand reputations and customer-centric approaches to attract and retain clients, while also investing in technology and partnerships to enhance risk assessment accuracy and customer experience.

Flood Insurance Market Companies

Major companies operating in the flood insurance industry are:

  • Allianz SE
  • Allstate Corporation
  • AXA SA
  • Chubb Limited
  • Nationwide Mutual Insurance Company
  • Swiss Re Group
  • The Travelers Companies, Inc.
  • Tokio Marine Holdings, Inc.
  • USAA Insurance Agency
  • Zurich Insurance Group AG
Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of flood insurance was worth USD 11.8 billion in 2023 and is set to witness 14.5% CAGR from 2024 to 2032, due to the climate change-induced extreme weather events, increasing flood frequency, heightened awareness of risks.

The residential flood insurance coverage segment accounted for over USD 6 billion in revenue in 2023, owing the rising incidences of floods in the residential areas and growing demand for personal property insurance.

The direct sales segment in the flood insurance industry is projected to record over 13% CAGR between 2024 and 2032, as they provide consumers more convenience and accessibility.

North America market accounted for over 45% revenue share in 2023, owing to the surge in private sector participation alongside government-backed programs.

Flood Insurance Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 285
  • Countries covered: 24
  • Pages: 260
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