Horse Insurance Market Size & Share 2026-2035

Horse Insurance Market Size

The global horse insurance market was estimated at USD 1 billion in 2025. The market is expected to grow from USD 1.09 billion in 2026 to USD 2.05 billion in 2035, at a CAGR of 7.3%, according to latest report published by Global Market Insights Inc.

The rapid evolution of equine ownership patterns, rising veterinary care costs, and increasing participation in competitive and recreational horse activities are significantly reshaping the market. Traditionally centered on mortality coverage, horse insurance providers and intermediaries have evolved into comprehensive risk management partners, helping horse owners, breeders, trainers, and equestrian organizations manage financial risks associated with mortality, medical treatments, liability exposure, and loss of use. Across professional racing operations, equestrian sports facilities, breeding farms, and private owners, insurers now play a critical role in delivering customized protection solutions and improving long-term asset security.

Growing demand for specialized and flexible insurance coverage is further elevating the importance of tailored horse insurance solutions. Horse owners increasingly seek policies customized to factors such as breed, age, usage, competition level, and geographical risk exposure. Demand is particularly strong for major medical coverage, surgical insurance, infertility protection for breeding horses, and liability insurance for equestrian facilities. At the same time, transparency in premium pricing, claims procedures, and policy exclusions is becoming increasingly important, as customers expect clear communication and faster claim settlements.

Rising focus on customer-centric services and digital engagement is also transforming the market. Horse insurance providers are adopting digital platforms and mobile-based policy management systems that enable customers to obtain quotes, renew policies, manage claims, and access veterinary support services online. This digital transition improves customer convenience while enhancing operational efficiency through automated underwriting, digital documentation, and faster claims processing. Insurers are also leveraging online channels and equestrian communities to strengthen customer acquisition and retention strategies.

In October 2025, Aon expanded its equine risk advisory capabilities by integrating advanced analytics and digital claims management tools into its specialty insurance operations, enabling faster claims handling, improved risk assessment, and enhanced customer engagement for equine clients.

The increasing financial value of performance horses and breeding stock is accelerating the adoption of specialized equine insurance services. Owners and equestrian organizations are increasingly seeking integrated coverage solutions that combine mortality insurance, medical protection, transit coverage, and third-party liability policies under unified insurance programs. This transition helps reduce financial uncertainty, streamline policy administration, and improve overall risk mitigation for stakeholders across racing, show jumping, dressage, polo, and breeding industries.

Technological innovation is playing a transformative role in modernizing horse insurance operations. Advanced technologies such as AI-driven underwriting systems, predictive analytics, wearable equine health monitoring devices, and digital claims assessment platforms are gaining traction. These tools enable insurers to improve risk profiling, monitor horse health conditions proactively, reduce fraudulent claims, and enhance customer service efficiency. In addition, partnerships between traditional insurers and insurtech companies are expanding access to more flexible and competitively priced equine insurance products.

North America and Europe represent mature markets for horse insurance, supported by well-established equestrian industries, high horse ownership rates, strong participation in racing and equestrian sports, and advanced veterinary healthcare infrastructure. The presence of specialized equine insurers has developed regulatory frameworks, and widespread adoption of digital insurance services continues to drive innovation and market competitiveness in these regions.

Asia-Pacific is emerging as a high-growth market, driven by rising disposable incomes, growing interest in equestrian sports, expanding horse breeding activities, and increasing awareness regarding equine healthcare and risk management. Countries such as China, India, Australia, and Japan are witnessing growing demand for horse insurance products, supported by expanding equestrian clubs, government support for sports infrastructure, and the increasing adoption of digital insurance platforms across the region.

Horse Insurance Market Trends

The horse insurance industry is experiencing rapid digital transformation as insurers adopt online platforms and mobile applications for policy management, renewals, and claims processing. Digital tools simplify customer interactions by enabling horse owners to compare policies, access documentation, and submit claims remotely. Automated underwriting systems and AI-enabled chat support are also improving operational efficiency and reducing processing times. This trend is particularly important among younger and tech-savvy customers who prefer seamless digital experiences. The adoption of digital insurance platforms is helping insurers expand market reach while improving customer engagement and service accessibility globally.

Horse owners increasingly require insurance solutions tailored to the specific characteristics and usage of their horses. Insurers are developing customized policies based on factors such as breed, age, discipline, medical history, competition participation, and geographical risk exposure. Specialized products are becoming more common for racehorses, breeding stock, polo horses, dressage horses, and recreational riding animals. Customers are also seeking flexible premium structures and optional add-on coverage for medical treatments, transportation, and infertility risks. This growing demand for personalized insurance solutions is encouraging insurers to diversify product portfolios and improve customer-centric service offerings.

Artificial intelligence and veterinary data analytics are becoming increasingly important in modern horse insurance operations. Insurers are utilizing predictive analytics, digital veterinary records, and wearable equine monitoring technologies to improve underwriting accuracy and risk assessment capabilities. These technologies help identify health issues early, monitor horse performance, and reduce the likelihood of fraudulent claims. AI-powered systems are also streamlining claims evaluation and enabling faster policy approvals. By leveraging data-driven insights, insurance providers can offer more accurate premium pricing and proactive risk management solutions, improving both operational efficiency and customer satisfaction within the horse insurance market.

For instance, in November 2025, Markel Insurance partnered with Halo AI to launch an AI-powered equine insurance and performance prediction platform featuring micro-duration race-day and bloodstock insurance products, highlighting the growing adoption of AI, predictive analytics, and flexible digital insurance solutions in the market

The horse insurance market is evolving beyond traditional mortality coverage as customers increasingly seek broader protection against multiple equine-related risks. Insurance providers are expanding offerings to include major medical coverage, surgical expense insurance, infertility protection, loss-of-use coverage, transit insurance, and third-party liability policies. Commercial equestrian facilities and competitive horse owners especially require comprehensive insurance packages to manage financial risks associated with injuries, accidents, and operational liabilities. This trend reflects growing awareness regarding the high costs of veterinary care and equestrian operations, encouraging insurers to develop integrated and more comprehensive equine protection solutions.

Growing attention toward equality and preventive healthcare is significantly influencing the horse insurance market. Horse owners are increasingly prioritizing routine health monitoring, vaccination programs, nutritional management, and preventive veterinary care to improve horse longevity and performance. Insurance providers are responding by encouraging preventive healthcare practices through wellness-focused coverage options and partnerships with veterinary service providers. The integration of health monitoring technologies and rehabilitation services is also gaining importance in reducing long-term medical expenses and claims frequency. This trend is helping insurers promote responsible horse management while improving risk mitigation and customer value.

Horse Insurance Market Analysis

Based on type, the market is divided into mortality, major medical & surgical, loss of use, liability, and others. The mortality segment dominated the horse insurance market, accounting for around 41.51% in 2025 and is expected to grow at a CAGR of more than 6.4% through 2035.

• The horse insurance industry is largely dominated by mortality coverage, driven by the high financial value of horses used in racing, breeding, polo, and other competitive equestrian activities. Horse owners face significant risk of financial loss due to sudden death caused by accidents, illnesses, or injuries, making mortality insurance a fundamental protection tool.
• In addition, increasing participation in high-intensity equestrian sports, rising investments in elite breeding programs, and the growing commercialization of the horse industry have further strengthened demand for mortality coverage. Limited predictability of equine health outcomes and the high cost of veterinary treatment also encourage owners and businesses to prioritize mortality insurance as the core component of their equine risk management strategy.
• For instance, in February 2025, HUB International launched its Private Client Equine Risk Advisory Services division, offering tailored coverage including equine mortality and medical insurance, reflecting rising demand for protection of high-value horses among affluent owners.
• The major medical & surgical segment is expected to experience a faster growth of more than 8.7% over the forecast period, driven by the rising incidence of equine injuries, fractures, and sports-related trauma due to increased participation in racing, polo, and competitive equestrian events. The growing value of performance horses has also encouraged owners to opt for comprehensive medical and surgical insurance coverage to manage high veterinary treatment and emergency surgery costs.

Based on horse type, the market is categorized into American quarter horse, Arabian, thoroughbred, morgan, appaloosa, and others. The thoroughbred segment dominates the market accounting for around 36.6% share in 2025, and the segment is expected to grow at a CAGR of over 8.7% from 2026-2035.

•  The horse insurance market is primarily led by the thoroughbred segment due to the exceptionally high commercial value of thoroughbred horses used in racing, breeding, and competitive sports. These horses often represent significant financial investments for owners, trainers, and breeding farms, making them highly susceptible to mortality, injury, and medical risks that require comprehensive insurance coverage.
• The global popularity of horse racing events, the expansion of stud farms, and the increasing focus on pedigree-based breeding programs further drive demand for insurance in this segment. The high cost of veterinary treatment and rehabilitation for performance horses also encourages owners to secure mortality, surgical, and loss-of-use coverage, strengthening the dominance of the thoroughbred segment in the market.
• For instance, in November 2025, Halo AI & Markel launched an AI-powered equine insurance platform offering micro-duration mortality and performance-based insurance products, reflecting the increasing digital transformation of horse insurance underwriting and pricing models.

Based on application, the horse insurance market is divided into recreational and commercial. The individual segment held the major market share in 2025. 

• The recreational segment holds the largest share in the market owing to the widespread ownership of horses for leisure riding, hobby farming, tourism activities, and non-commercial equestrian use. Unlike commercial racing or breeding horses, recreational horses are more numerous and are owned by individuals, riding schools, and equestrian clubs, creating a broad base of insurance demand.
• Additionally, increasing participation in leisure riding activities, rising popularity of equestrian tourism, and growing awareness of basic horse healthcare and financial protection are driving adoption of mortality and medical insurance policies in this segment. The relatively lower individual value of recreational horses is offset by their high population volume, making this segment the dominant contributor to overall horse insurance penetration.
• For instance, in September 2025, Equine MediRecord reported that insurers are increasingly adopting embedded mortality insurance models due to widespread underinsurance in the horse sector and rising demand for better financial protection for racehorses and breeding horses.
• The commercial segment is expected to grow with a CAGR of more than 7.9% due to the rising commercialization of horse-based industries such as racing, breeding farms, equestrian sports, and polo clubs. Increasing investments in high-value racehorses and breeding programs are significantly raising financial exposure, thereby driving demand for comprehensive horse insurance coverage including mortality, medical, surgical, and liability protection.

Based on distribution channel, the horse insurance market is divided into agents & brokers, direct response, and others. The agents & brokers segment dominated the market.

• The agents & brokers segment dominates the market due to their strong role in connecting horse owners, breeders, and equestrian businesses with specialized insurers offering tailored equine coverage. Horse insurance is a niche and highly technical product, often requiring expert guidance on mortality, medical, surgical, and liability risks, which makes brokers essential for policy customization and risk assessment.
• Additionally, brokers provide access to multiple insurers, helping clients compare coverage options, pricing, and exclusions to secure the most suitable protection for high-value horses. Their deep industry knowledge, established relationships with underwriters, and ability to handle complex claims processes further strengthen their dominance in the distribution of horse insurance products globally.
• For instance, in July 2025, DUAL Group (Insurance Broker MGA) emphasized that equine insurance underwriting depends strongly on broker-led distribution, particularly in the bloodstock and sport horse segments where valuation and veterinary risk assessment require intermediary expertise.
• The direct response segment is expected to grow with a CAGR of more than 7.8% due to the increasing digitalization of insurance distribution and the growing preference of horse owners for quick, transparent, and paperless policy purchasing channels. Rising adoption of online platforms and insurer-owned digital portals is enabling customers to directly compare, customize, and purchase horse insurance products without intermediaries.

U.S. dominated the horse insurance market in North America with around 79% share and generated USD 372.4 million in revenue in 2025.

• The U.S. horse insurance industry is experiencing robust growth due to the increasing participation in horse racing, equestrian sports, recreational riding, and commercial breeding activities across the country. The United States has one of the world’s largest equine populations, supported by a well-established ecosystem of racetracks, riding schools, breeding farms, and competitive equestrian events. Rising ownership of high-value racehorses, sport horses, and breeding stock is significantly increasing demand for equine mortality, major medical, surgical, and liability insurance coverage. In addition, growing awareness regarding equine healthcare and financial risk protection is encouraging horse owners to invest in comprehensive insurance policies.
• The market is also benefiting from advancements in veterinary medicine, digital insurance platforms, and specialized equine risk advisory services. Insurance providers are increasingly adopting AI-driven underwriting tools, digital claims systems, and customized policy structures to improve customer experience and operational efficiency. Furthermore, rising veterinary treatment costs and increasing focus on preventive healthcare are supporting long-term demand for horse insurance solutions in the U.S. market.
• For instance, in February 2025, HUB International launched its Private Client Equine Risk Advisory Services, offering tailored equine mortality, medical, liability, and event coverage solutions for high-net-worth horse owners, trainers, and equestrian facilities, highlighting the growing demand for customized horse insurance and specialized risk advisory services.
• Canada is projected to grow at a significant CAGR in the horse insurance market due to the expanding equestrian industry, rising participation in recreational riding and competitive horse sports, and increasing awareness regarding equine healthcare and financial risk management. The country’s strong presence in activities such as show jumping, dressage, rodeo events, and horse breeding is driving demand for equine mortality, medical, and liability insurance coverage among horse owners, trainers, and commercial equestrian facilities.

The horse insurance market in Germany is expected to experience significant and promising growth of 5.9% from 2026 to 2035.

• Europe accounts for over 25.6% of the market in 2025 and is expected to grow at a CAGR of around 7% due to the region’s well-established equestrian industry, strong horse racing culture, and high concentration of breeding farms, riding clubs, and competitive equestrian events. Countries such as the UK, Germany, France, Ireland, and the Netherlands have a significant population of high-value racehorses and sport horses, driving substantial demand for equine mortality, medical, surgical, and liability insurance coverage.
• The UK is a strong horse insurance market leader due to its long-established equestrian heritage, globally recognized horse racing industry, and extensive network of breeding farms, riding schools, and equestrian clubs. The country hosts major horse racing events and competitive equestrian activities that involve high-value racehorses and sport horses, increasing demand for equine mortality, medical, surgical, and liability insurance coverage. Strong participation in recreational riding and professional equestrian sports further supports the widespread adoption of specialized horse insurance products among individual owners and commercial equestrian facilities.
• The market is also driven by advanced veterinary healthcare infrastructure, high awareness regarding equine welfare, and the presence of leading equine insurance providers and brokers in the UK. Insurers are increasingly adopting digital policy management systems, customized underwriting models, and AI-driven claims processing tools to improve customer experience and operational efficiency. Rising veterinary treatment expenses are additionally supporting long-term market growth.
• For instance, in September 2025, WTW (Willis) launched a specialty bloodstock insurance product in partnership with Equine MediRecord, enabling UK horse owners and trainers to access digital equine mortality insurance through a regulator-approved equine health platform, demonstrating the increasing adoption of digital insurance ecosystems in horse insurance
• The Germany is emerging as a strong growth market for horse insurance due to the country’s expanding equestrian industry, increasing participation in horse riding and competitive equestrian sports, and growing ownership of high-value sport and breeding horses. Germany has a well-established presence in disciplines such as dressage, show jumping, and eventing, which is driving demand for equine mortality, medical, surgical, and liability insurance coverage among horse owners, trainers, and equestrian clubs.

The horse insurance market in China is expected to experience significant and promising growth of 9.8% from 2026-2035.

• Asia Pacific accounts for over 15.23% of the market in 2025 and is expected to grow at a CAGR of around 10.4% between 2026 and 2035 owing to the increasing adoption of equine sports and recreational horse activities, rising awareness regarding equine health and mortality coverage, growing investments in veterinary infrastructure, and the expanding presence of insurance providers offering specialized horse insurance products across countries such as Australia, China, Japan, and India.
• China is the market leader in the horse insurance segment due to the growing commercialization of equine activities, expanding horse breeding operations, and increasing participation in horse racing, polo, and equestrian sports. Rising disposable income and government support for sports infrastructure development have encouraged private investments in horse clubs, riding academies, and breeding centers across major provinces. The increasing value of racehorses and sport horses has also accelerated demand for mortality, medical, and liability insurance coverage.
• In addition, the country is witnessing steady improvements in veterinary healthcare services and equine management standards, which support the expansion of specialized insurance products. International equestrian events and collaborations with global horse breeding organizations are further strengthening the market ecosystem. The presence of domestic and international insurers offering customized policies for horse owners, breeders, and equestrian facilities also contributes to China’s leading position in the regional horse insurance market.
• For instance, in July 2025, HorseQuest and Agria announced a strategic collaboration to strengthen responsible horse ownership and improve access to lifetime equine insurance coverage in the UK. Through the partnership, horse buyers can transfer existing insurance policies without additional vet checks, ensuring uninterrupted protection and enhanced horse welfare support across the equestrian community.
• India is becoming one of the fastest-growing markets in the horse insurance sector due to the rising popularity of equestrian sports, increasing investments in horse breeding and racing activities, and growing awareness regarding equine healthcare and financial protection among horse owners. The expansion of polo clubs, riding academies, and recreational horse training centers across urban regions is further supporting market growth. Additionally, improving veterinary infrastructure, increasing participation in competitive horse events, and the gradual entry of insurers offering customized mortality and medical coverage for horses are contributing to the rapid development of the market in India.

The horse insurance market in Brazil is expected to experience significant and promising growth from 2026 to 2035.

• Latin America holds around 7.5% of the market in 2025 and is growing steadily at a CAGR of around 9.1% between 2026 and 2035 due to the strong presence of horse breeding and ranching activities, expanding participation in equestrian sports, and increasing demand for mortality and veterinary coverage for high-value horses. Countries such as Brazil, Argentina, and Mexico are witnessing growing investments in racing, polo, and recreational horse ownership, which is driving awareness regarding financial risk protection. In addition, improving veterinary services, rising livestock insurance penetration, and the gradual expansion of specialized equine insurance offerings by regional and international insurers are further supporting market growth across Latin America.
• Brazil dominates the horse insurance market in Latin America due to its large equine population, strong horse breeding industry, and widespread participation in equestrian sports such as polo, rodeo, and horse racing. The country has a well-established agricultural and ranching sector where horses play an important role in livestock management and recreational activities, increasing the demand for mortality and medical insurance coverage.
• Thhe growing value of sport and breeding horses, rising investments in veterinary healthcare infrastructure, and increasing awareness regarding financial risk protection among horse owners are supporting market expansion. The presence of domestic insurers offering livestock and equine-specific policies, along with the popularity of competitive horse events and breeding programs, further strengthens Brazil’s leading position in the Latin American market.
• The horse insurance market in Mexico is experiencing high growth due to the increasing popularity of horse racing, rodeo events, and recreational equestrian activities across the country. Rising investments in horse breeding farms and ranching operations, along with the growing value of sport and performance horses, are encouraging horse owners to adopt mortality, medical, and liability insurance coverage to protect against financial losses.

The horse insurance market in UAE is expected to experience significant and promising growth from 2026-2035.

• MEA holds around 5.2% of the market in 2025 and is growing steadily at a CAGR of around 8.3% between 2026 and 2035 due to the increasing adoption of equestrian sports, growing popularity of horse racing and endurance events, and rising investments in high-value horse breeding and ownership, particularly in the Gulf Cooperation Council (GCC) countries. The region is also witnessing expansion in equestrian tourism, luxury horse ownership, and government-backed initiatives promoting cultural and sporting heritage linked to horses.
• The UAE dominates the MEA horse insurance market due to its strong equestrian culture, high concentration of premium horse ownership, and significant investments in horse racing, endurance riding, and polo events. The country hosts globally recognized events such as the Dubai World Cup and Abu Dhabi Equestrian Festival, which have increased the demand for high-value horse protection and insurance coverage.
• Additionally, the UAE’s high disposable income levels, strong government support for equestrian sports, and well-developed veterinary and equine healthcare infrastructure further strengthen market growth. The presence of specialized insurers and brokers offering tailored mortality, medical, and liability insurance solutions for racehorses and breeding horses also contributes to the UAE’s leading position in the MEA horse insurance market.
• Saudi Arabia is expected to grow at the fastest CAGR in the MEA market due to strong government initiatives under Vision 2030 that promote sports diversification and cultural heritage linked to horsemanship. Increasing investments in equestrian infrastructure, horse racing tracks, breeding farms, and endurance riding events are significantly expanding the demand for horse ownership and related insurance coverage.

Horse Insurance Market Share

• The top 7 companies in the horse insurance industry are Allianz, AXA XL, Markel, Great American Insurance, Lloyd's of London, Nationwide Mutual Insurance Company, and Liberty Mutual Insurance Company, contributed around 29.8% of the market in 2025.
• Allianz focuses on broadening its specialty insurance portfolio through tailored livestock and equine coverage under its commercial lines. It emphasizes data-driven underwriting, leveraging actuarial analytics to price mortality and medical risks more accurately. The company strengthens partnerships with brokers and agricultural networks to reach horse owners. Digital transformation and streamlined claims handling are also key strategies to improve customer experience and expand penetration in niche animal insurance segments globally.
• AXA XL adopts a specialty underwriting strategy targeting high-value equine risks, particularly racehorses and breeding stock. It relies heavily on broker-led distribution and customized policy structures covering mortality, surgical, and liability risks. The company uses advanced risk modeling and global underwriting expertise to manage volatile claims. AXA XL also focuses on capacity provision for large equine portfolios and supports clients with risk engineering and loss prevention advisory services.
• Markel is one of the most established players in equine insurance, specializing in bloodstock and mortality coverage. Its strategy centers on deep niche expertise, strong relationships with equestrian brokers, and disciplined underwriting. Markel integrates risk management services, veterinary insights, and flexible policy design for high-value horses. It also expands through partnerships and acquisitions while maintaining a strong focus on profitability and long-term specialty insurance leadership.
• Great American Insurance focuses on U.S.-centric equine insurance solutions, offering mortality, major medical, and liability coverage for horse owners, farms, and trainers. Its strategy emphasizes strong agent and broker networks combined with specialized underwriting teams. The company prioritizes customized policies for recreational and commercial horse owners. It also enhances customer engagement through dedicated equine divisions and efficient claims processing systems tailored to livestock and sport horse risks.
• Lloyd’s operates as a global insurance marketplace providing capacity for complex and high-value equine risks. Its strategy relies on syndicates specializing in livestock and bloodstock insurance, offering flexible underwriting for mortality, surgical, and event-related risks. Lloyd’s leverages global reinsurance strength and broker networks to access niche equine markets. It also supports innovation in parametric and embedded insurance structures to improve risk transfer solutions for horse owners worldwide.
• Nationwide focuses on the U.S. equine insurance market with strong emphasis on farm and ranch customers. Its strategy includes bundling equine coverage with broader agricultural insurance products such as property and liability. The company prioritizes broker and agent distribution, risk education, and loss prevention services. Nationwide also emphasizes long-term customer relationships, offering flexible mortality and medical coverage options tailored to hobby farmers and equestrian lifestyle clients.
• Liberty Mutualv targets specialty agricultural and equine insurance through its commercial and specialty lines divisions. Its strategy focuses on risk diversification, underwriting discipline, and broker partnerships to access equine mortality and liability segments. The company leverages global reinsurance capacity to manage large exposures. It also emphasizes digital underwriting tools, claims efficiency, and integrated risk management solutions to serve both individual horse owners and commercial equestrian operations

Horse Insurance Market Companies

Major players operating in the horse insurance industry are:

• Allianz
• AXA XL
• Convex Insurance
• FMG (Farmers' Mutual)
• Great American Insurance
• Liberty Mutual Insurance Company
• Liberty Specialty Markets
• Lloyd's of London
• Markel 
• Nationwide Mutual Insurance Company
• Specialized underwriting and data-driven risk assessment are reshaping the horse insurance market. Insurers are increasingly relying on veterinary data, equine health records, and predictive analytics to evaluate mortality, medical, and surgical risks more accurately. This shift allows for more precise pricing of high-value racehorses and breeding stock, reducing claim volatility. Advanced modeling tools and AI-based risk scoring are also enabling insurers to design customized policies for different horse categories, improving profitability and underwriting efficiency across commercial and recreational segments.
• Digital transformation and insurtech adoption are accelerating distribution and claims efficiency in the horse insurance market. Companies are integrating mobile platforms, embedded insurance solutions, and API-driven systems to simplify policy issuance and claims settlement. These technologies reduce dependency on traditional paperwork and intermediaries while improving customer experience through real-time policy management. The growing use of digital ecosystems also supports faster onboarding of clients such as breeders, trainers, and equestrian clubs, enhancing market penetration and operational scalability.

Horse Insurance Industry News

• In December 2024, British Equestrian published its State of the Nation 2024 report, highlighting an 11.7% rise in federation memberships between 2023 and 2024, reflecting strong participation growth in equestrian activities. The report also noted cost-of-living pressures impacting horse owners and identified rising climate-related risks to equine welfare, emphasizing the need for improved risk management and insurance awareness in the sector.
• In November 2024, the American Horse Council released its Annual Report 2024, detailing expanded equine data initiatives in collaboration with the USDA, including a 27% increase in data submissions to the Equine Welfare Data Collective. The report emphasized ongoing challenges such as veterinarian shortages and strengthened advocacy efforts, supporting improved risk assessment and underwriting accuracy in the horse insurance market.
• In October 2024, Cornell University’s College of Veterinary Medicine advanced AI-driven equine health research, including predictive models using CT imaging to identify catastrophic breakdown risks in racehorses. These innovations aim to improve early diagnosis and preventive care, potentially reducing insurance claims and enhancing underwriting precision in equine mortality and medical coverage segments.
• In September 2024, the Fédération Équestre Internationale (FEI) released its Annual Report 2023, showcasing significant global growth with a 79% increase in international events since 2009 and a 63% rise in horse registrations. The report also highlighted expanded development programs under FEI Solidarity, supporting equestrian growth in emerging regions and contributing to rising demand for equine insurance solutions.
• In August 2024, the British Horseracing Authority published updated industry statistics through Weatherby’s Racing Administration System, providing detailed insights into horses in training and racing population trends. These structured datasets improve transparency across the racing industry and support insurers in refining mortality risk models and underwriting strategies for thoroughbred insurance coverage

The horse insurance market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($Bn), from 2022 to 2035, for the following segments:

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Market, By Type

• Mortality
• Major medical & surgical
• Loss of use
• Liability
• Others

Market, By Horse Type

• American quarter horse
• Arabian
• Thoroughbred
• Morgan
• Appaloosa
• Others

Market, By Application

• Recreational
• Commercial

Market, By Distribution Channel     

• Agents & brokers
• Direct response

• Others

The above information is provided for the following regions and countries:

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Belgium
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Philippines
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina

• MEA   
  • South Africa
  • Saudi Arabia
  • UAE