Non-life insurances - Sweden
Sweden- The Non-life insurance market in Sweden is expected to witness significant growth in the coming years.
- According to projections, the market size, measured by gross written premium, is forecasted to reach US$8.23bn SEK in 2024.
- This indicates a strong potential for the insurance sector in the country.
- Furthermore, the average spending per capita in the Non-life insurance market is estimated to be US$771.00 SEK in 2024.
- This figure highlights the individual's willingness to invest in insurance coverage to protect their assets and mitigate risks.
- Looking ahead, the gross written premium is anticipated to experience a steady annual growth rate of 2.36% between 2024 and 2029.
- This positive trend is expected to drive the market volume to reach US$9.25bn SEK by the end of 2029.
- These numbers indicate a prosperous future for the Non-life insurance industry in Sweden.
- In a global context, it is worth noting that the United States is set to dominate the market in terms of gross written premium.
- In 2024, the US is projected to generate a substantial amount of US$2.5tn SEK.
- This highlights the size and significance of the US insurance market on a global scale.
- Overall, the Non-life insurance market in Sweden is poised for growth, with favorable projections indicating increasing market size and individual spending.
- As the sector continues to evolve, it will be interesting to observe how these trends unfold and shape the insurance landscape in the country.
- The non-life insurance market in Sweden is experiencing a surge in demand due to the country's high level of social welfare and emphasis on risk management.
Definition:
Non-life insurance, also known as general insurance, covers a wide range of insurance products that protect against financial losses related to events other than death. Non-life insurance is designed to provide policyholders with financial support and protection in various circumstances, like car accidents, property damage, and medical expenses.Structure:
The non-life insurance market covers the following insurance types: health, motor vehicles, property, general liability, and legal.Additional information:
The market contains the following KPIs: gross written premium aggregated for all countries and regions, gross written premium per capita, gross claim payments, and the loss ratio – calculated as gross claim payments divided by gross written premium.In-Scope
- Health insurances
- Motor Vehicle insurances
- Property insurances
- General Liability insurances
- Legal insurances
Out-Of-Scope
- Live insurances
- Other non-live insurances, such as travel insurance, freight insurance, and accident insurance
- Reinsurance
