Global Life Insurance industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value , and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
The market is segmented into Life Insurance and Pension/Annuity.
The value of the market is measured in terms of gross premium incomes generated by mortality protection and retirement savings plans. Mortality protection plans provide coverage in the event of death, while retirement savings plans help individuals save for their future.
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 2022 annual average exchange rates.
The global life insurance market had total gross written premiums of $2,765.5 billion in 2022, representing a compound annual growth rate (CAGR) of 2% between 2017 and 2022.
The life insurance segment accounted for the market's largest proportion in 2022, with total gross written premiums of $1,873.8 billion, equivalent to 67.8% of the market's overall value.
According to in-house research, in 2022, Asia-Pacific accounting for a share of 37.6%, dominated the global life insurance market, followed by Europe and North America holding a share of 31.2% and 27.4%, respectively.
Scope
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What was the size of the global life insurance market by value in 2022?
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How has the market performed over the last five years?
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