Life Insurance Global Industry Almanac 2016-2025
Global Life Insurance industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2019 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
- The total impact of the COVID19 pandemic on the Life Insurance industry is currently uncertain, but early indications show that gross premium income will be adversely affected in 2020. There is no way of knowing the length of the pandemic, though announcements of vaccines bring hope that there is an end in sight, and as a result, the likes of the Life Insurance industry will return to positive growth from 2021 onwards.
- The global life insurance market is expected to generate total gross written premiums of $2,732.1bn in 2020, representing a compound annual growth rate (CAGR) of 2.2% between 2016 and 2020.
- The life insurance segment is expected to be the market’s most lucrative in 2020, with total gross written premiums of $1,913.3bn, equivalent to 70% of the market’s overall value.
- One of the main drivers of life insurance spending is consumer confidence. If consumers are confident in their economic ability and the long-term economic prospects of their country, then they are very unlikely to buy life insurance.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global life insurance market
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- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the global life insurance market with five year forecasts
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- What was the size of the global life insurance market by value in 2020?
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- How has the market performed over the last five years?
- Who are the top competitors in the global life insurance market?