Life Insurance - Market Summary, Competitive Analysis and Forecast, 2016-2025 (Global Almanac)
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 market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average exchange rates.
- Forecast figures presented in this report are calculated using crisis scenarios for the market. The length of the pandemic and restrictions introduced by various countries are still difficult to predict. Many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed "non-essential". As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modeled taking forecast impacts on national economics into consideration.
- The global life insurance market had total gross written premiums of $2,724.9bn in 2020, representing a compound annual growth rate (CAGR) of 2.2% between 2016 and 2020.
- The Life Insurance segment was the market’s most lucrative in 2020, with total gross written premiums of $1,939.5bn, equivalent to 71.2% of the market’s overall value.
- The COVID-19 pandemic, which first took hold in China in 2019 and spread across the rest of the world in early 2020, has had a dramatic impact on the life insurance market, with cuts to interest rates affecting life insurance companies’ profits.
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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?
- What will be the size of the global life insurance market in 2025?
- What factors are affecting the strength of competition in the global life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in the global life insurance market?