Insurance related companies constitute one of the largest sectors of overall business in the United States. Insurance carriers and related activities contributed $450.3 trillion, or 2.6% of the US Gross Domestic Product in 2014, according to the US Bureau of Economic Analysis.
Net premiums written totaled $1.2 trillion in 2015, with premiums recorded by life and health insurers accounting for 55% and premiums from property and casualty insurers accounting for 45%, according to S&P Global Market Intelligence.
The industry employed 2.6 million people in 2016, according to the US Department of Labor. Of those, 1.5 million worked for insurance companies and the remaining 1.1 million worked for insurance agencies, brokers and other insurance-related enterprises. There were 5,926 insurance companies in the nation in 2015, operating in the areas of property and casualty, life annuities, health, fraternal, title, risk retention and other areas, according to the National Association of Insurance Commissioners.
The sheer size and scope of the industry indicates a tremendous appetite for insurance products. And with that comes the success of companies that provide them.
If you are considering the purchase or sale of an insurance business, Transworld is committed to ensuring the best deal for all parties involved. Transworld's business advisors will meet with each prospective insurance business buyer to determine your abilities and interests, educate you about the search and buying process, and connect you with insurance business sellers that match your criteria.
If interested in selling your insurance business, Transworld's experienced advisors will offer you full marketing support, including expert valuation and strict confidentiality, as they introduce you to suitable prospective buyers. Transworld will be involved at all stages until the insurance business changes hands and even beyond.
Click here to find our listings of insurance businesses for sale. We offer a detailed description of each insurance business for sale, along with some basic business information, such as price, down payment, number of employees, and current inventory.