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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Insurance Market Share
Based on insurance type, the market is divided into life insurance and non-life insurance. The growth of the insurance industry is driven by non-life insurance, which provides extensive financial protection against various risks such as property damage, accidents, and legal liabilities. It ensures compliance with legal requirements, helps maintain business operations, and assures policyholders by covering unexpected losses. Additionally, non-life insurance offers flexible coverage options, spreads risk among policyholders, and promotes well-being through access to healthcare services.
Insurance Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 7.14 trillion.
The market is estimated to grow at a CAGR of 5.80% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 11.85 trillion by 2032.
The market is being driven due to rising healthcare costs, the availability of customised insurance policies, and the growth of the ageing population which has fuelled the demand for life insurance.
The key trends aiding the market include the integration of AI and data analytics, the entry of new market participants, and growth in emerging economies.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market is categorised according to the insurance type, which includes life insurance and non-life insurance.
Based on the distribution channel, the market is divided into direct sales, agency sales, bancassurance and others.
The market key players are Berkshire Hathaway Specialty Insurance, Ping An Insurance (Group) Company of China, Ltd., Allianz SE, Axa SA, MetLife Services and Solutions, LLC., UNITEDHEALTH GROUP, Prudential Financial, Inc., American International Group, Inc., CNP ASSURANCES, and Assicurazioni Generali S.p.A., among others.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124