Global Actuarial Service Market Growth (Status and Outlook) 2023-2029

Global Actuarial Service Market Growth (Status and Outlook) 2023-2029

The global Actuarial Service market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

In the U.S., the main companies providing actuarial services are Milliman, Willis Towers Watson, PwC, EY, Deloitte, KPMG, Aon, Saber Pension, LifeWorks, etc., with Milliman and Willis Towers Watson holding close to 25% of the market share. In terms of their product categories, the market size of Loss Reserve Certification, Loss Funding and Dividend Forecasting & Valuation are growing faster with a trend of 1.43%, 1.42% and 1.2% respectively.

The rise of black swan events and catastrophic losses are placing the insurance industry under greater pressure than ever before. To address these shifting realities and maintain profitability, insurers must price their products more effectively, build more sensitive risk models and enhance operational efficiency. Financial services organizations as a whole must also take steps to stress test their balance sheets and quantify their risk exposures. Achieving these goals calls for more complex and precise actuarial analyses.

LPI (LP Information)' newest research report, the “Actuarial Service Industry Forecast” looks at past sales and reviews total world Actuarial Service sales in 2022, providing a comprehensive analysis by region and market sector of projected Actuarial Service sales for 2023 through 2029. With Actuarial Service sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Actuarial Service industry.

This Insight Report provides a comprehensive analysis of the global Actuarial Service landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Actuarial Service portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Actuarial Service market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Actuarial Service and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Actuarial Service.

This report presents a comprehensive overview, market shares, and growth opportunities of Actuarial Service market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Loss Reserve Certification
Loss Funding and Payout Projection
Ratemaking
Captive Feasibility Study
Retention Optimisation
Risk Transfer Opinion
Others

Segmentation by application
Insurance
Bank
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
PwC
EY
Deloitte
KPMG
Aon
Saber Pension
LifeWorks
Lockton Companies
Alkhwarizmi Actuarial Services
Baker Tilly
Robus Group
Marsh McLennan Agency
Huggins Actuarial Services
Marsh
Willis Towers Watson

Please note: The report will take approximately 2 business days to prepare and deliver.