Global Fire Insurance Market Report 2023-2027 & 2032 Featuring Key Players – Amica Mutual Insurance, Allstate Insurance, Allianz, AXA, & Assicurazioni Generali

The “Fire Insurance Global Market Report 2023” report has been added to’s offering.

DUBLIN, Sept. 18, 2023 /PRNewswire/ — The global fire insurance market is expected to grow from $67.28 billion in 2022 to $74.08 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The fire insurance market is expected to grow to $106.57 billion in 2027 at a CAGR of 9.5%.

Fire insurance offers various types of coverage, including standard and optional coverage. Standard coverage encompasses traditional insurance that safeguards against fire-related property damage and losses. This type of insurance is utilized by businesses of all sizes, spanning diverse industry verticals such as manufacturing, healthcare, energy and utilities, retail, IT and telecom, and hospitality.

In the fire insurance market, comprehensive statistics and insights are readily available, offering a clear understanding of the global market size, regional market shares, competitors, market segments, trends, opportunities, and more. This wealth of data equips industry participants with the knowledge needed to thrive in the fire insurance sector. The market research report delivers an in-depth analysis of both current and future scenarios within the industry.

Notably, product innovation is emerging as a prominent trend in the fire insurance market. Leading insurance companies in this sector are introducing innovative insurance packages to bolster their market positions. For instance, AXA Affin General Insurance Berhad introduced BAPE (Business Advantage Plus Enhanced), a fire insurance solution tailored for small and medium enterprises (SMEs) in Malaysia.

This innovative policy covers fire protection, consequential loss due to fire, as well as other perils like burglary, public liability, and compensation. Certain business types, including food and beverage facilities, budget hotels, and learning centers, receive distinct advantages from this solution.

The fire insurance market is poised for growth due to a significant increase in fire accidents. Consumers, including businesses and homeowners, are increasingly opting for fire insurance plans to protect themselves from potential financial losses resulting from fire-related damage to their assets, properties, and belongings.

For instance, according to data from CTIF, an international association of fire and rescue services based in France, 2022 witnessed a notable rise in fire accidents globally, totaling approximately 3,999,276 incidents. Of these, a majority of fires were recorded in the USA, accounting for 1,388,500 incidents, followed by China with 252,000 incidents. This surge in fire accidents is driving the growth of the fire insurance market.

In 2022, North America held the largest share of the fire insurance market, with Europe projected to exhibit the highest growth rate in the forecast period. The regions covered in the fire insurance market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Major players in the fire insurance market are

  • Amica Mutual Insurance
  • Allstate Insurance Company
  • Allianz
  • AXA
  • Assicurazioni Generali S.p.A.
  • Liberty Mutual Insurance Company
  • Ping An Insurance (Group) Company of China Ltd.
  • State Farm Mutual Automobile Insurance Company
  • United Services Automobile Association
  • Nippon Life Insurance
  • Munich Re Group
  • Zurich Financial Services
  • Yasuda Mutual Life Insurance
  • Aegon
  • PNB Metlife India Insurance Company Limited

Key Topics Covered:

1. Executive Summary

2. Fire Insurance Market Characteristics

3. Fire Insurance Market Trends And Strategies

4. Fire Insurance Market – Macro Economic Scenario

4.1. COVID-19 Impact On Fire Insurance Market

4.2. Ukraine-Russia War Impact On Fire Insurance Market

4.3. Impact Of High Inflation On Fire Insurance Market

5. Fire Insurance Market Size And Growth

5.1. Global Fire Insurance Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Fire Insurance Forecast Market, 2022-2027F, 2032F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Fire Insurance Market Segmentation

6.1. Global Fire Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Standard Coverage
  • Optional Coverage

6.2. Global Fire Insurance Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Large Enterprises
  • Small And Medium Enterprises

6.3. Global Fire Insurance Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Manufacturing
  • Healthcare
  • Energy And Utilities
  • Retail And Consumer Goods
  • IT (Information Technology) And Telecom
  • Hospitality
  • Other Industry Vertical

7. Fire Insurance Market Regional And Country Analysis

7.1. Global Fire Insurance Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

7.2. Global Fire Insurance Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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SOURCE Research and Markets