HARTFORD, Conn., Oct. 21, 2021 /PRNewswire/ -- The middle market represents approximately 180,000 businesses domestically in the United States. These medium-sized businesses play a crucial role in bridging the economic landscape from small main-street and home-based businesses up to the large, national corporations. The middle market is highly competitive, where no insurer has more than 10% of the market, according to a new study by Conning.
"While containing significantly fewer firms than the small commercial market, the wide variety of risk management needs, broader risk profiles and corresponding premiums charged make the middle market one of considerable size," said Alan Walters, a Vice President, Insurance Research at Conning. "In fact, our market estimate places the middle market as the largest market along the spectrum of the small /middle market/large & national accounts."
The Conning study, "2021 Middle Market: Leaders Push Ahead" reviews the middle market commercial insurance landscape, including market size estimates, account characteristics, and distribution trends. Insights were drawn through an analysis of insurer financials and business and labor statistics, as well as in-depth interviews with national, regional, and specialty insurers serving the middle market.
"The middle market is a dynamic and marketplace led by national insurers, but also influenced by smaller insurers, regional competitors, and monoline specialists," said Steve Webersen, Head of Insurance Research at Conning. "Barriers to entry, including regulatory and financial, are high for all but the most focused approaches, such as specific industries or specialty lines of business."
"2021 Middle Market: Leaders Push Ahead" is available for purchase from Conning by calling (888) 707-1177 or by visiting www.conningresearch.com.
Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
SOURCE Conning, Inc.
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