Market Insights report
The Insurance market is on a steady growth trajectory, driven by shifting consumer preferences and technological advancements. Consumers increasingly seek personalized insurance solutions that cater to their specific needs, with rising demand for digital insurance options that offer convenience and flexibility.
While insurers face challenges such as adjusting to low-interest-rate environments and meeting evolving customer expectations, they continue to innovate with sustainable, ethical options and digital solutions. Macroeconomic factors, including interest rates, inflation, and economic growth, play a significant role in shaping market dynamics. The Insurance market presents a valuable opportunity for insurers to adapt to economic fluctuations and deliver solutions that enhance financial resilience, with GWP expected to reach US$9.02 trillion by 2029.
What's included?
The Insurance market is a foundational sector in the global economy, providing essential protection for individuals and businesses against financial losses from unforeseen events. Insurance policies, structured as life and non-life insurancces, offer support for a wide range of scenarios, from accidents to health issues and property damage. Gross Written Premium serves as the market’s main performance metric, with the global Insurance market expected to reach a gross written premium of US$8.02 trillion in 2024 and an average per capita spending of US$1.03k. The Non-life Insurance segment is the largest, projected at US$4.46 trillion in 2024.
This report provides an in-depth analysis of the Insurance market, including key statistics such as aggregated gross written premium aggregated for all countries and regions, gross written premium per capita, gross claim payments, loss ratio – calculated as gross claim payments divided by gross written premium, for selected European countries the distribution channels of insurance bookings, and the share of insureds in the total population for over 50 countries for live, health, motor vehicle, property, general liability, and legal insurances. With a CAGR of 2.38% projected through 2029, the market is set to reach a volume of US$9.02 trillion. This report also highlights country-specific insights, with the United States expected to lead in gross written premium, reaching US$3,788.0 billion in 2024.
The Insurances Market
Overview
The Insurances Market
Overview
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