Insurance Brokers Market 2023 – By Type (Life Insurance, General Insurance, Health Insurance, Other Types), By Mode (Offline, Online), By End User (Corporate, Individual), And By Region, Opportunities And Strategies – Global Forecast To 2032

Doll, Toy and Game Market Definition

Insurance, Reinsurance And Insurance Brokerage Market Definition

Life And Health Reinsurance Market Definition

Asset Management Market Definition

Stock brokerage is a financial organization on the stock or commodity markets who buys and sells assets in the client's best interest for which brokerage fee is charged. A stock exchange is a standardized and authorized marketplace where stock brokers and traders can buy and sell stocks, bonds, and other securities. The main types of securities brokerages and stock exchanges are derivatives and commodities brokerage, stock exchanges, bonds brokerage, equities brokerage, and other stock brokerages. A stock exchange is a place where various financial assets, such as shares, commodities, and bonds, are traded. The various types of establishments include exclusive brokers, banks, investment firms, and other types of establishments. The services are provided through online and offline modes. The global securities brokerages and stock exchanges market is segmented - 1) By Type: Derivatives And Commodities Brokerage, Stock Exchanges, Bonds Brokerage, Equities Brokerage, Other Stock Brokerage 2) By Mode: Online, Offline 3) By Type of Establishment: Exclusive Brokers, Banks, Investment Firms, Other Types Of Establishments Subsegments Covered: Derivatives Brokerage, Commodities Brokerage, Clearing And Transaction Services, Listing Services, Market Data The global securities brokerage and stock exchange services market size grew from $1696.91 billion in 2022 to $1844.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global securities brokerage and stock exchange services market is expected to grow to $2506.41 billion in 2027 at a CAGR of 8.0%. Major brokerage firms around the world are offering hybrid solutions to their customers. The development of hybrid solutions by firms is mainly aimed at expanding their services and reaching a wider array of investors. Under the hybrid investing service, brokerage firms offer Do-It-Yourself (DIY) trading and investment with professional guidance. This platform also allows brokerage firms to better serve their investors by addressing their individual preferences. Major players in the securities brokerages and stock exchanges market are Northwestern Mutual, Bank Of America, Ameriprise Financial Inc (AMP), Wells Fargo Advisors (WFC), and Raymond James Financial Inc (RJF). North America was the largest region in the securities brokerages and stock exchanges market share in 2022. Asia-Pacific was the second-largest region in the securities brokerages and stock exchanges market. The regions covered in the global securities brokerages and stock exchanges market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the securities brokerages and stock exchanges market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The securities brokerage and stock exchange services market consist of revenues earned by entities by acting as brokers in selling securities such as equities, bonds, commodities and derivatives. Securities brokerages represent customers in dealing with securities transactions on the trading floor/online platform of stock exchanges. The securities brokerages might sometimes act as a representative for both buyer and seller. This market excludes the advisory and investment activities of the brokerage firms. This market includes transaction charges levied by stock exchanges for trading on its trading floor/online platform to securities brokerages and other fees. It does not include the value of the funds invested in securities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The securities brokerages and stock exchanges research report is one of a series of new reports from The Business Research Company that provides securities brokerages and stock exchanges statistics, including securities brokerages and stock exchanges industry global market size, regional shares, competitors with securities brokerages and stock exchanges share, detailed securities brokerages and stock exchanges segments, market trends and opportunities, and any further data you may need to thrive in the securities brokerages and stock exchanges industry. This securities brokerages and stock exchanges research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Custody services typically include the settlement, safekeeping, and reporting of marketable securities and cash held by customers. By lending securities to approved borrowers on a short-term basis, a customer can earn additional income on custody assets. The main services of the custody service are core custody services, ancillary services, core depository services, and other administrative services. Core custody service providers settle trades, invest cash balances as requested, collect income, execute corporate activities, price securities positions, and assist with record keeping and reporting. The services are available as equity, fixed income, alternative assets, and other types. The global custody service market is segmented - 1) By Service: Core custody services, Ancillary services, Core depository services, Other Administrative Services 2) By Type: Equity, Fixed Income, Alternative Asstes, Other Types The global custody service market size grew from $38.17 billion in 2022 to $41.57 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global custody service is expected to grow from $57.9 billion in 2027 at a CAGR of 8.6%. Automation and standardization are key factors driving the growth of the custody service market. The custody services industry is focusing on using technology to improve efficiency. The automation and standardization of core custody services and operations result in higher visibility, enhanced productivity due to operational efficiency, and cost reductions for customers, they improve quality of service and allow the custodian to react quickly to future needs. Due to the automation and standardization of custody services in the forecast period, the asset-centric model is expected to be augmented by a more data-centric, open platform method where the custodian will have access to a variety of available services. For instance, an automated reporting system provides daily reports of exceptions, securities available for loan, securities on loan, valuation of cash collateral, daily mark-to-market information, and margin calls. Therefore, such automation and standardization features are expected to drive the growth of the custody service market. Major players in the custody service market are Bank of New York Mellon, Citigroup, JP Morgan Chase, State Street Bank and Trust, BNP Paribas, Northern Trust Corporation, HSBC, Societe Generale Securities Services, Brown Brothers Harriman & Co., and Caisse d'Epargne Investor Services. Increased competition is a key factor hampering the growth of the custody service market. The market for custody services is highly competitive, with numerous banks that provide custody services in addition to other banking services on a global, regional, or local scale. The price competition, in particular, is causing enormous pressure on the banks in the global market. Many custodians find it challenging to keep up with high volumes and offer competitive prices. Traditional players in securities services such as multinational custodians, local custodians, and specialists in fund management are experiencing increasing competition from central securities depositories (CSD), central counterparty clearing houses (CCP), and outsourced service providers. Fund services professionals are increasing their competitiveness by significantly developing new and targeted offerings. Therefore, increasing competition from various areas is expected to hinder the growth of the custody service market. The development of digital asset custody platforms in custody services is gaining traction in the market. Companies in the global custody service market are increasingly focusing on digital asset custody with better security and operational efficiency. For example, in 2022, US based investment banking services company, BNY Mellon launched its Digital Asset Custody platform in the US, which allows clients to hold and transfer bitcoin and ether. The multi-asset platform bridges digital and traditional asset custody. The platform store clients' private keys and provide some bookkeeping on the crypto assets in their portfolios. In January 2021, U.S. Bank, a US-based financial institution, acquired the debt servicing and securities custody client portfolio of MUFG Union Bank, N.A. for an undisclosed amount. The acquisition complements the bank’s portfolio and would help it better serve its customers. MUFG Union Bank is a US-based full-service bank. North America was the largest region in the custody service market in 2022. Western Europe was the second largest market in the custody service market report. The regions covered in the custody service analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the custody service market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The custody service market consists of revenues earned by entities by providing services such as settlement, safekeeping, and reporting of customers' marketable securities and cash. Securities lending can allow a customer to make additional income on custody assets by loaning securities to approved borrowers on a short-term basis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The custody service market research report is one of a series of new reports from The Business Research Company that provides custody service market statistics, including global market size, regional shares, competitors with custody service market share, detailed custody service market segments, market trends and opportunities, and any further data you may need to thrive in the custody service industry. This custody service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Prepaid cards are preloaded payment cards issued by financial institutions that can be used to make both online and in-store payments. Once the amount loaded on the card is used, it may be disposed of (for a non-reloadable prepaid card) or reloaded (for a reloadable prepaid card) by the cardholder. The main types of prepaid cards are general-purpose reloadable cards, prepaid gift cards, government benefit cards, payroll cards, and other types. The general purpose Reloadable cards can be used as debit cards for retail purposes and are used for depositing online payments. The various card types are open-loop prepaid cards and closed-loop prepaid cards. The cards are used in retail establishments, corporate institutions, government establishments, and other establishments. The global prepaid card market is segmented - 1) By Type: General-Purpose Reloadable Card, Prepaid Gift Card, Government Benefit Card, Payroll Card, Other Types 2) By Card Type: Open Loop Prepaid Card, Closed Loop Prepaid Card 3) By Application: Retail Establishments, Corporate Institutions, Government, Other Applications The global prepaid card market size will grow from $15 billion in 2022 to $16.32 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global prepaid card is expected to grow to $21.7 billion in 2027 at a CAGR of 7.4%. Increasing the use of prepaid cards as a substitute for traditional bank cards is a key factor driving the growth of the prepaid card market. A prepaid card is not connected to a bank checking account or a draught account for a credit union share, instead, users invest money in advance deposited into the prepaid card account. According to the Reserve Bank of India, debit card payments in 2021 reached 412 crore. Prepaid cards are similar to debit cards and permit the consumer to spend money up to the amount loaded on the card for making purchases, paying gas bills, shopping, and paying online bills. Therefore, increasing usage of prepaid cards is expected to propel the growth of the prepaid card market in the forecast period. Major players in the prepaid card market are American Express Company, BBVA Compass Bancshares Inc., Green Dot Corporation, JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial Inc., NetSpend Holdings Inc., PayPal Holdings Inc., UniRush LLC., and Master Card Incorporated. The increasing incidents of fraudulent cases are expected to hamper the growth of the prepaid card market in the forecast period. Card fraud losses are sustained on all credit, debit, prepaid general-purpose, and private-label payment cards distributed around the world by payment card issuers, retailers, purchasers of card purchases from retailers, and acquirers of card transactions at ATMs. For instance, according to the Aite Group, a company that provides insurance services, in 2020, 47% of Americans experienced financial theft and found that losses from these identity theft cases cost $502.5 billion in 2019 and increased 42 percent in 2020, totaling $721.3 billion in 2021. Therefore, the increasing incidences of fraud restrain the growth of the prepaid market. Major players operating in the industry are undertaking various strategic initiatives such as partnerships and collaborations, which are gaining significant popularity in the prepaid card market. Companies are collaborating with other market players to offer prepaid cards with flexible credit limits to attract a large consumer base for prepaid cards. For instance, in November 2020, MobiKwik collaborated with the American Express (Amex) card network to introduce its first virtual prepaid payment card with a flexible credit limit. With the launch of the prepaid payment card, MobiKwik becomes the first non-bank in India to issue cards. In June 2022, Rewire, an Israel-based prepaid debit card provider, acquired Imagen for an undisclosed amount. The acquisition would complement the company’s offerings and expand its portfolio. Imagen is an Israel-based pre-paid card company that provides pre-paid cards to immigrants. The Asia-Pacific was the largest region in the prepaid card market in 2022. Western Europe was the second largest market in the global prepaid card market share. The regions covered in the global prepaid card market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the prepaid card market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The prepaid card market consists of revenues earned by entities that are engaged in storing, processing and transmitting prepaid card data. Prepaid cards may be open-loop or closed-loop. While an open-loop prepaid card can be used at any locations accepting cards, a closed-loop prepaid card can only be used at certain locations such as a specific store or a group of stores. Revenue generated from the cards market include all processing and service fees levied by banks and financial institutions for processing card-based payments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The prepaid card market research report is one of a series of new reports from The Business Research Company that provides prepaid card market statistics, including prepaid card industry global market size, regional shares, competitors with prepaid card market share, detailed prepaid card market segments, market trends and opportunities, and any further data you may need to thrive in the prepaid card industry. This prepaid card research market report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Life reinsurance is an insurance practice in which one insurance company buys its own insurance contract to protect itself against a large loss to a large group of their current life insurance clients' policies. Reinsurance programs pay health insurers to help them offset the costs of enrollees who have large medical claims. The main types of life and health reinsurance are facultative reinsurance and treaty reinsurance. Facultative reinsurance refers to the coverage that is purchased by the insurer primarily to cover a single risk. The various products are life and health. The distribution channels involved are direct response, agents & brokers, banks, and other distribution channels. The global life and health reinsurance market is segmented – 1) By Type: Facultative Reinsurance, Treaty Reinsurance 2) By Distribution Channel: Direct Response, Agents & Brokers, Banks, Other Distribution Channels 3) By Product: Life, Health The global life & health reinsurance market size will grow from $163.59 billion in 2022 to $173.74 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global life & health reinsurance is expected to grow to $214.9 billion in 2027 at a CAGR of 5.5%. The rise in the demand for life and health insurance policies is expected to drive the life and health reinsurance industry during the forecast period. The COVID-19 outbreak has raised the importance and demand for life insurance in the minds of the people. The uncertainty of getting diagnosed with COVID-19 and its high treatment cost in private hospitals is the main reason behind the surge in demand for life and health insurance policies. For instance, in the fiscal year2021-2022, Life Insurance Corporation (LIC), India’s largest life insurer, sold around 2.17 crore policies. Therefore, increased demand for life and health insurance policies is expected to impact the growth of life and health reinsurance market positively. Major players in the life and health reinsurance market are Swiss Reinsurance Company Ltd., Munich Re Group, Reinsurance Group of America (RGA), SCOR SE, Hannover Re, China Reinsurance Corporation, Berkshire Hathaway Re, PartnerRe Ltd., Korean Reinsurance Company, Taiping Reinsurance Co., Great-West Life Co., and General Insurance Corporation of India (GIC Re) . Low interest rates in life and health insurance policies make the insurance company's products less attractive, which results in lower sales and lower income in the form of premiums that the insurance company has available to invest in. Therefore, a low interest rate is expected to be a restraint on the life and health reinsurance markets during the period. Munich Re, a German-based reinsurance company, indicated that interest rates, exacerbated by the coronavirus pandemic, are impacting the profitability of reinsurers. Due to this, insurance cover is likely to become more expensive, impacting the growth of the market, which in turn will hinder the life and health reinsurance market as well. The increasing demand for artificial intelligence in life and health reinsurance is an emerging trend in the life and health reinsurance market. According to Reinsurance News, Swiss Re is partnering with Tencent’s WeBank to research artificial intelligence use in reinsurance. Swiss Re and WeBank will work collaboratively to explore the technology involved in addressing the challenges imposed by data silos. Swiss Re is expecting the partnership to build a foundation for a new business supported by federated learning and will also encourage the reinsurance industry to adopt a new framework to improve technological capabilities. In January 2020, HDFC Ergo, a Mumbai-based general insurance company, acquired a 50.08% stake in Apollo Munich Health Insurance for $183 million (INR 1,494 crore). The acquisition would combine the expertise of both companies to provide better value to their customers. Apollo Munich Health Insurance is an India-based insurance company. North America was the largest region in the life and health reinsurance market in 2022. Western Europe was the second largest market in the life and health reinsurance market share. The regions covered in the global life and health reinsurance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the life and health insurance market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The life & health reinsurance market consists of sales of life & health reinsurance products by entities that are engaged in assuming all or part of the risk with existing life and health insurance policies originally underwritten by other insurance providers (direct insurance carriers). The size of the market is based on the value of the premiums reinsured. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The life and health reinsurance market research report is one of a series of new reports from The Business Research Company that provides life and health reinsurance statistics, including global life and health reinsurance market size, regional shares, competitors with life and health reinsurance shares, detailed life and health reinsurance segments, life and health reinsurance market trends and opportunities, and any further data you may need to thrive in the life and health reinsurance industry. This life and health reinsurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.