Topic: Global insurance industry (2024)

Table of Contents
Editor’s Picks Current statistics on this topic Current statistics on this topic Related topics Largest markets Key drivers Recommended statistics Market overview Market overview Segments Segments Leading companies Leading companies Sales metrics/consumption Sales metrics/consumption Outlook Outlook FAQs

Editor’s Picks Current statistics on this topic

Current statistics on this topic

InsuranceLife and non-life insurance penetration in selected regions globally 2020-2022
InsuranceGross premiums of the insurance industry worldwide 2000-2020
InsuranceLife and nonlife direct premium writing countries globally 2022, by value of premiums

Related topics

Largest markets

5
  • Insurance industry in the United States
  • Insurance industry in the UK
  • Insurance industry in China
  • Insurance industry in India
  • Insurance industry in Japan

Key drivers

3
  • Global climate change
  • The impact of cybercrime on companies in the U.S.
  • Impact of cybercrime on companies in the United Kingdom (UK)

Recommended statistics

Market overview

5
  • Premium Statistic Market share of the total insurance market worldwide 2000-2021, by country
  • Premium Statistic Gross premiums of the insurance industry worldwide 2000-2020
  • Premium Statistic Value of global reinsurance capital 2013-2022
  • Premium Statistic Insurance search ad spend worldwide 2020-2021
  • Premium Statistic ESG scores of the worlds' largest insurance companies 2023, by provider

Market overview

  • Premium Statistic Market share of the total insurance market worldwide 2000-2021, by country

    Topic: Global insurance industry (4)

    Market share of the total insurance market worldwide 2000-2021, by country

    Market share of the total insurance market worldwide from 2000 to 2021, by country

  • Premium Statistic Gross premiums of the insurance industry worldwide 2000-2020

    Topic: Global insurance industry (5)

    Gross premiums of the insurance industry worldwide 2000-2020

    Gross premiums written by the insurance industry worldwide 2000 to 2020 (in trillion U.S. dollars)

  • Premium Statistic Value of global reinsurance capital 2013-2022

    Topic: Global insurance industry (6)

    Value of global reinsurance capital 2013-2022

    Value of global reinsurance capital from 2013 to 2022 (in billion U.S. dollars)

  • Premium Statistic Insurance search ad spend worldwide 2020-2021

    Topic: Global insurance industry (7)

    Insurance search ad spend worldwide 2020-2021

    Paid search advertising spending of the insurance industry worldwide in 2020 and 2021 (in million U.S. dollars)

  • Premium Statistic ESG scores of the worlds' largest insurance companies 2023, by provider

    Topic: Global insurance industry (8)

    ESG scores of the worlds' largest insurance companies 2023, by provider

    Comparison of the environmental, social and governance (ESG) scores of the 26 largest insurance companies by market capitalization worldwide in 2023, by ESG score provider

Segments

6
  • Premium Statistic Leading premium writing countries globally 2022, by premiums
  • Premium Statistic Share of insurance direct premiums written globally 2008-2022, by segment
  • Premium Statistic Share of insurance premiums globally 2021, by region
  • Premium Statistic Life and nonlife direct premium writing countries globally 2022, by value of premiums
  • Premium Statistic COVID-19 insurance claims made globally until June 2021, by segment
  • Premium Statistic Share of global population ready for open insurance 2022, by country

Segments

  • Premium Statistic Leading premium writing countries globally 2022, by premiums
  • Premium Statistic Share of insurance direct premiums written globally 2008-2022, by segment

    Topic: Global insurance industry (10)

    Share of insurance direct premiums written globally 2008-2022, by segment

    Distribution of life and health, and property and casualty insurance direct premiums written globally from 2008 to 2022

  • Premium Statistic Share of insurance premiums globally 2021, by region

    Topic: Global insurance industry (11)

    Share of insurance premiums globally 2021, by region

    Distribution of insurance premiums worldwide in 2021, by region

  • Premium Statistic Life and nonlife direct premium writing countries globally 2022, by value of premiums

    Topic: Global insurance industry (12)

    Life and nonlife direct premium writing countries globally 2022, by value of premiums

    Leading life and nonlife direct premium writing countries globally in 2022, by value of premiums (in billion U.S. dollars)

  • Premium Statistic COVID-19 insurance claims made globally until June 2021, by segment

    Topic: Global insurance industry (13)

    COVID-19 insurance claims made globally until June 2021, by segment

    Breakdown of COVID-19 insurance claims worldwide from 2020 to June 2021, by business segment

  • Premium Statistic Share of global population ready for open insurance 2022, by country

    Topic: Global insurance industry (14)

    Share of global population ready for open insurance 2022, by country

    Distribution of open insurance-ready users worldwide in 2022, by country

Leading companies

5
  • Premium Statistic Biggest 50 insurance companies worldwide May 2023, by market cap
  • Premium Statistic Largest life insurance companies globally December 2023, by market capitalization
  • Premium Statistic Leading insurance companies worldwide 2023, by total assets
  • Premium Statistic Leading insurance companies globally 2022, by revenue
  • Premium Statistic Leading global P/C reinsurers 2019-2021, by gross reinsurance premiums written

Leading companies

  • Premium Statistic Biggest 50 insurance companies worldwide May 2023, by market cap

    Topic: Global insurance industry (15)

    Biggest 50 insurance companies worldwide May 2023, by market cap

    Largest insurance companies worldwide as of May 2023, by market capitalization (in billion U.S. dollars)

  • Premium Statistic Largest life insurance companies globally December 2023, by market capitalization

    Topic: Global insurance industry (16)

    Largest life insurance companies globally December 2023, by market capitalization

    See Also
    Property and Casualty Insurance Market Size Worth $1036.17 Billion by 2033: The Brainy Insights

    Largest life insurance companies worldwide as of December 2023, by market capitalization (in billion U.S. dollars)

  • Premium Statistic Leading insurance companies worldwide 2023, by total assets

    Topic: Global insurance industry (17)

    Leading insurance companies worldwide 2023, by total assets

    Largest insurance companies worldwide as of May 2023, by total assets (in billion U.S. dollars)

  • Premium Statistic Leading insurance companies globally 2022, by revenue

    Topic: Global insurance industry (18)

    Leading insurance companies globally 2022, by revenue

    Leading global insurance companies worldwide in 2022, by revenue (in billion U.S. dollars)

  • Premium Statistic Leading global P/C reinsurers 2019-2021, by gross reinsurance premiums written

    Topic: Global insurance industry (19)

    Leading global P/C reinsurers 2019-2021, by gross reinsurance premiums written

    Leading property/casualty reinsurers globally, by gross reinsurance premiums written from 2019 to 2021 (in billion U.S. dollars)

Sales metrics/consumption

6
  • Premium Statistic Share of consumers who sought and purchased insurance worldwide 2022
  • Premium Statistic Life and non-life insurance penetration in selected regions globally 2020-2022
  • Premium Statistic Price change in commercial insurance worldwide 2015-2023
  • Premium Statistic Price change in commercial property insurance worldwide 2018-2023
  • Premium Statistic Price change in commercial casualty insurance worldwide 2018-2023
  • Premium Statistic Price change in finpro liability insurance worldwide 2018-2022

Sales metrics/consumption

  • Premium Statistic Share of consumers who sought and purchased insurance worldwide 2022

    Topic: Global insurance industry (20)

    Share of consumers who sought and purchased insurance worldwide 2022

    Share of consumers who searched for and bought insurance in selected countries in 2022

  • Premium Statistic Life and non-life insurance penetration in selected regions globally 2020-2022

    Topic: Global insurance industry (21)

    Life and non-life insurance penetration in selected regions globally 2020-2022

    Life and non-life insurance penetration in selected countries and territories worldwide from 2020 to 2022

  • Premium Statistic Price change in commercial insurance worldwide 2015-2023

    Topic: Global insurance industry (22)

    Price change in commercial insurance worldwide 2015-2023

    Percentage change in commercial insurance pricing worldwide from Q1 2015 to Q4 2023

  • Premium Statistic Price change in commercial property insurance worldwide 2018-2023

    Topic: Global insurance industry (23)

    Price change in commercial property insurance worldwide 2018-2023

    Percentage change in commercial property insurance pricing worldwide from Q2 2018 to Q4 2023

  • Premium Statistic Price change in commercial casualty insurance worldwide 2018-2023

    Topic: Global insurance industry (24)

    Price change in commercial casualty insurance worldwide 2018-2023

    Percentage change in commercial casualty insurance pricing worldwide from Q2 2018 to Q4 2023

  • Premium Statistic Price change in finpro liability insurance worldwide 2018-2022

    Topic: Global insurance industry (25)

    Price change in finpro liability insurance worldwide 2018-2022

    Percentage change in financial and professional liability insurance pricing worldwide from Q2 2018 to Q4 2022

Outlook

5
  • Premium Statistic Estimated size of the global insurance market 2021-2022, with forecasts up until 2026
  • Premium Statistic Hiring freezes, downsizing and outsourcing plans in the global insurance sector 2022
  • Premium Statistic Cyber insurance market size worldwide 2018-2020, with forecast for 2025
  • Basic Statistic Travel insurance market size worldwide in 2021, with forecasts up until 2030
  • Premium Statistic Number of open insurance users globally 2021, with forecasts for 2024 and 2032

Outlook

  • Premium Statistic Estimated size of the global insurance market 2021-2022, with forecasts up until 2026

    Topic: Global insurance industry (26)

    Estimated size of the global insurance market 2021-2022, with forecasts up until 2026

    Forecast of the global insurance market in 2021 and 2022, with forecasts from 2023 to 2026 (in billion U.S. dollars)

  • Premium Statistic Hiring freezes, downsizing and outsourcing plans in the global insurance sector 2022

    Topic: Global insurance industry (27)

    Hiring freezes, downsizing and outsourcing plans in the global insurance sector 2022

    Share of insurance CEOs planning selected actions to prepare for an anticipated recession in the next six months worldwide in 2022

  • Premium Statistic Cyber insurance market size worldwide 2018-2020, with forecast for 2025

    Topic: Global insurance industry (28)

    Cyber insurance market size worldwide 2018-2020, with forecast for 2025

    Global cyber insurance market size in 2018 and 2020, with forecast for 2025 (in billion U.S. dollars)

  • Basic Statistic Travel insurance market size worldwide in 2021, with forecasts up until 2030

    Topic: Global insurance industry (29)

    Travel insurance market size worldwide in 2021, with forecasts up until 2030

    Size of the global travel insurance market in 2021, with forecasts from 2022 to 2030 (in billion U.S. dollars)

  • Premium Statistic Number of open insurance users globally 2021, with forecasts for 2024 and 2032

    Topic: Global insurance industry (30)

    Number of open insurance users globally 2021, with forecasts for 2024 and 2032

    Number of open insurance users worldwide in 2021, with forecasts for 2024 and 2032 (in millions)

Topic: Global insurance industry (2024)

FAQs

Is insurance a global industry? ›

The global insurance market was worth almost six trillion U.S. dollars in 2022, but this looks set to increase substantially in the coming years. Cyber crime is consistently seen as a leading risk to global business by risk management experts.

Find Out More ›
What is the leading global insurance company? ›

UnitedHealth Group Incorporated

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What is the biggest threat to the insurance industry? ›

6 insurance industry risk factors
  1. Compliance changes. Regulatory dynamics in the insurance sector are never static. ...
  2. Cybersecurity threats. ...
  3. Technology changes. ...
  4. Climate change & other environmental factors. ...
  5. Talent shortage. ...
  6. Financial risks.
Mar 21, 2024

Continue Reading ›
What is the largest insurance market in the world? ›

Regional overview. The largest insurance market in the world is the United States, followed by China and Japan. The value of insurance premiums written in the U.S. alone exceeds the value of premiums written in the next eight largest insurance markets. Insurance in the U.S.

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What is global in insurance? ›

Global insurance program refers to a multinational insurance program with a coverage territory encompassing the entire world, including the country in which the insured is domiciled.

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How big is the insurance industry globally? ›

The global market for insurance was valued at $9.8 trillion in 2021 and is estimated to grow from $5.6 trillion in 2022 to $9.8 trillion 2027, with a compound annual growth rate (CAGR) of 12% for the period of 2022-2027.

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Who is the #1 insurance company in the USA? ›

State Farm is the biggest auto insurance company in the country by market share, while Progressive, Geico and Allstate are the next three.

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What is the #1 insurance in America? ›

Currently, the largest car insurance company in America is State Farm.

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Who is the top 5 insurance company? ›

The largest P&C insurers in the United States
RankingP/C insurance company name2022 Net premiums written (US $ 000)
1State Farm Group77,760,744
2Berkshire Hathaway Ins73,561,832
3Progressive Ins Group51,077,621
4Allstate Ins Group42,486,332
96 more rows

Read On ›
Why is the insurance industry struggling? ›

The property insurance sector is under heavy pressure from poor financial performance due to unexpectedly high inflation, a shift of exposures to higher-risk areas, and rising reinsurance costs.

Keep Reading ›

What are the three biggest issues facing the insurance industry? ›

This article examines the top 5 challenges facing the insurance industry today and how insurers can overcome them.
  • 1) Digital Disruption. ...
  • 2) Regulatory Compliance. ...
  • 3) Climate Change. ...
  • 4) Changing Customer Needs. ...
  • 5) Cybersecurity Threats.
Feb 15, 2024

Read More ›
What is the biggest insurance company failure? ›

Bankruptcy of Executive Life Insurance Company

Executive Life Insurance Company is regarded to be the biggest bankruptcy of an insurance company in the United States in the course of recent years. Based in California, the life company had to file for bankruptcy in 1991 following disastrous investments in junk bonds.

Get More Info Here ›
Which is the fastest growing insurance market in the world? ›

India is predicted to have the fastest-growing insurance sector among G20 nations for the next five years to 2028, with a real-term growth of 7.1% in total insurance premiums. The life insurance segment is expected to expand 6.7% due to increased demand for term life coverage and the adoption of Insurtech.

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Which country has the biggest insurance industry in the world? ›

The US remains the largest insurance market in the world, with total premiums (non-life and life) of USD 2.8 trillion.

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What country has the most expensive insurance? ›

The United States: the world's highest medical expenses

The United States has the most expensive healthcare system of any country.

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What industry is insurance considered? ›

The Finance and Insurance sector comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions.

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What type of industry is insurance company? ›

The insurance carriers and related activities subsector is part of the finance and insurance sector.

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What type of market is the insurance industry? ›

At its heart, insurance is all about what economists call selection markets. Insurance markets are selection markets because not all customers are equal: insurers want customers who pay their premiums and rarely file claims, and they don't want customers who regularly draw on their policies for expensive work.

Learn More Now ›
What is the industry of insurance? ›

What is the insurance industry? The insurance sector can be defined as complex and dynamic, providing financial protection against risk to individuals and businesses, offering a wide range of products, including life insurance, health insurance, property and casualty insurance, and other specialized forms of coverage.

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