Gross premiums of the insurance industry worldwide 2000-2022
Between 2020 and 2022, the value of gross premiums written in all 38 OECD member countries grew by almost 800 billion U.S. dollars. In 2022, this figure reached approximately six trillion U.S. dollars, up from 5.3 trillion U.S. dollars two years earlier. OECD member countries held the lion's share of the global insurance market over the past two decades.
Which companies are the global leaders?
The value of gross premiums generated by the insurance industry worldwide increased from 2.51 trillion U.S. dollars in 2000 to six trillion U.S. dollars in 2022. The whole insurance industry is divided into two broad categories – life insurance and non-life insurance (in the United States and Canada called property and casualty insurance). The leading global insurance companies in 2022 in terms of revenue were Berkshire Hathaway, Ping An Insurance, and China Life Insurance.
Which country leads the global insurance market?
The leading direct premium writing country worldwide was the United States, in terms of the value of written premiums. The non-life insurance sector was larger than the life sector in the United States. The value of both life and non-life insurance premiums in the United States accounted for approximately 40 percent of the global market share in 2022. China was ranked second with 10.3 percent of the global market share.
