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Horse Insurance Market

Global Horse Insurance Market Share, Size, Analysis, Report, Forecast: By Type: Mortality, Major Medical and Surgical, Loss of Use, Liability; By Horse Type: American Quarter Horse, Arabian, Thoroughbred, Morgan, Appaloosa, Others; By Application: Recreational, Commercial; By Sales Channel; Regional Analysis; Competitive Landscape; 2024-2032

Global Horse Insurance Market Outlook

The global horse insurance market size reached a value of approximately USD 615.08 million in 2023. The market is expected to grow at a CAGR of 13.3% between 2024 and 2032, reaching a value of USD 1,899.59 million by 2032.

 

Key Trends in the Market

Horse insurance is a type of insurance policy that reimburses the horse owner in case of any unforeseen events related to the horse such as death, accident, illness, theft, and injury, among others. Depending upon the policy, the market value of the horse may be provided to the owner, for example in case of death, theft, and straying. Other additional and optional benefits depend upon the type of policy purchased.

 

Global Horse Insurance Market

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  • Increasing horse ownership especially among high-net-worth individuals is fuelling the growth of the horse insurance market. The rising values of horses are encouraging such individuals to invest in the protection of their horses, resulting in increased purchase of horse insurance.
  • Horse racing is a highly popular sport in various regions and is increasingly attracting spectators. Increasing values of racing horses is resulting in a greater demand for horse insurance as the chances of injury rises due to racing participation.
  • Integration of automation technologies in insurance market for horses is making it easier and accessible for horse owners to get their horses insured, contributing to the growth of the horse insurance market.

 

Market Analysis

Based on type, the market is segmented into mortality, major medical and surgical, loss of use, and liability. On the basis of horse type, the market is divided into American quarter horse, Arabian, Thoroughbred, Morgan, and Appaloosa, among others. By application, the market is bifurcated into recreational and commercial. Based on sales channel, the market is divided into broker, agency, and direct response. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Horse Insurance Market

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global horse insurance market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Markel Corporation
  • Axa SA
  • Harry Hall International Ltd.
  • The Equine and Livestock Insurance Company Limited
  • Animal Friends Insurance Services Limited
  • Quotezone Horse Insurance
  • Pet Plan Limited
  • BFL CANADA Insurance Services Inc.
  • Nationwide Mutual Insurance Company
  • Pet Assure Corp.
  • CapriCMW Insurances Services Ltd.
  • Others

 

Market Share by Type

Mortality horse insurance accounts for a large share in the market and is showing significant growth potential. The rising popularity of horse racing competitions is increasing the risk for horses as they become more vulnerable to death, injury, and theft, propelling the requirement for insurance for protecting the investments of the horse owners. Mortality horse insurance provides coverage in case of theft, death, disease, and if the horse needs to be euthanised.

 

Market Share by Region

North America occupies a sizable share of the horse insurance market owing to the rapid rise in horse ownership in the region. Rising availability of qualified equestrian professionals in United States, among other North American countries, and increasing popularity of horse riding as a hobby are further boosting the growth of the regional market.

 

Global Horse Insurance Market

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Meanwhile, in Europe, the market for horse insurance is anticipated to witness steady growth in the upcoming years. Countries such as the United Kingdom, France, and Germany have been extensively involved in equestrian sports and horse racing and growing awareness regarding the advantages of horse insurance are likely to surge the regional market.

 

Competitive Landscape

Markel Corporation is an insurance company that was founded in 1930. The company is headquartered in Virginia, United States, and is known for providing services such as insurance, investment, and reinsurance to its customers globally.

 

Axa SA was established in 1946 and has its headquarters in Paris, France. This multinational insurance company provides investment management services among other financial services to investors globally.

 

Harry Hall International Ltd. was found in 1891 and has its headquarters located in West Yorkshire, United Kingdom. This one-stop-equestrian-shop is known globally for providing solutions to horse owners through products and insurance policies.

 

Other market players include The Equine and Livestock Insurance Company Limited, Animal Friends Insurance Services Limited, Quotezone Horse Insurance, Pet Plan Limited, BFL CANADA Insurance Services Inc., Nationwide Mutual Insurance Company, Pet Assure Corp., and CapriCMW Insurances Services Ltd., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Horse Type
  • Application
  • Sales Channel
  • Region
Breakup by Type
  • Mortality
  • Major Medical and Surgical
  • Loss of Use
  • Liability
Breakup by Horse Type
  • American Quarter Horse
  • Arabian
  • Thoroughbred
  • Morgan
  • Appaloosa
  • Others
Breakup by Application
  • Recreational
  • Commercial
Breakup by Sales Channel
  • Broker
  • Agency
  • Direct Response
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Markel Corporation
  • Axa SA
  • Harry Hall International Ltd.
  • The Equine and Livestock Insurance Company Limited
  • Animal Friends Insurance Services Limited
  • Quotezone Horse Insurance
  • Pet Plan Limited
  • BFL CANADA Insurance Services Inc.
  • Nationwide Mutual Insurance Company
  • Pet Assure Corp.
  • CapriCMW Insurance Services Ltd.
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface    
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Horse Insurance Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Horse Insurance Historical Market (2018-2023)
    8.3    Global Horse Insurance Market Forecast (2024-2032)
    8.4    Global Horse Insurance Market by Type
        8.4.1    Mortality
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Major Medical and Surgical
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Loss of Use
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Liability
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
    8.5    Global Horse Insurance Market by Horse Type
        8.5.1    American Quarter Horse
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Arabian
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Thoroughbred
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Morgan
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Appaloosa
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032) 
        8.5.6    Others
    8.6    Global Horse Insurance Market by Application
        8.6.1    Recreational
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Commercial
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Horse Insurance Market by Sales Channel
        8.7.1    Broker
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Agency
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Direct Response
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
    8.8    Global Horse Insurance Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Horse Insurance Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Horse Insurance Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Horse Insurance Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Horse Insurance Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Horse Insurance Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis  
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Markel Corporation
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Axa SA
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Harry Hall International Ltd.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    The Equine and Livestock Insurance Company Limited
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Animal Friends Insurance Services Limited
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Quotezone Horse Insurance
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Pet Plan Limited
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    BFL CANADA Insurance Services Inc.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Nationwide Mutual Insurance Company
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Pet Assure Corp.
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    CapriCMW Insurance Services Ltd.
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Others  
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Horse Insurance Market: Key Industry Highlights, 2018 and 2032 
2.    Global Horse Insurance Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Horse Insurance Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Horse Insurance Historical Market: Breakup by Horse Type (USD Million), 2018-2023
5.    Global Horse Insurance Market Forecast: Breakup by Horse Type (USD Million), 2024-2032
6.    Global Horse Insurance Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Horse Insurance Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Horse Insurance Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
9.    Global Horse Insurance Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
10.    Global Horse Insurance Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Horse Insurance Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Horse Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Horse Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Horse Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Horse Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Horse Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Horse Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Horse Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Horse Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Horse Insurance Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Horse Insurance Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Horse Insurance Market Structure

Key Questions Answered in the Report

The global market reached a value of approximately USD 615.08 million in 2023.

The market is expected to grow at a CAGR of 13.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 1,899.59 million by 2032.

The key drivers of the market are increasing horse ownership, growing awareness regarding horse insurance, rising disposable incomes, and increasing availability of horse insurance.

The key trends of the market are rising popularity of equestrian sports, increasing costs of horse ownership, and integration of automation technologies in horse insurance sales.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant applications of horse insurance in the market are recreational and commercial.

Key players in the horse insurance market, according to the report are Markel Corporation, Axa SA, Harry Hall International Ltd., The Equine and Livestock Insurance Company Limited, Animal Friends Insurance Services Limited, Quotezone Horse Insurance, Pet Plan Limited, BFL CANADA Insurance Services Inc., Nationwide Mutual Insurance Company, Pet Assured Corp., and CapriCMW Insurances Services Ltd., among others.

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