Dublin, Jan. 17, 2025 (GLOBE NEWSWIRE) -- The "Life Insurance & Pension Global Industry Almanac 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global life insurance & pension market recorded gross written premiums of $2.85 trillion in 2023, representing a compound annual growth rate (CAGR) of 0.3% between 2018 and 2023.
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 life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $1.85 trillion, equivalent to 64.9% of the market's overall value.
- The growth in the global life insurance & pension market is driven by the increasing population of individuals aged 65 and above. This demographic shift is fueling demand for retirement savings plans and income protection policies as people seek financial security for their post-retirement years. According to the United States Census Bureau, the population of individuals aged 65 and above in the US stood at 60.7 million in 2023, an increase of 5.0% from the previous year.
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The market value is measured in terms of gross written premiums 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.
- The market is segmented into life insurance and pension/annuity. Life insurance is a contract in which an insurer charges premium to provide the coverage for life like death, disability, accident described in the policy or bond. Pension/annuity is the amount of money an insurer charges to provide for payment of certain amount after retirement on a monthly basis. When a person chooses to retire, he or she can use the pension fund to buy an annuity. This pays a regular income for the rest of the person's life.
- All market data and forecasts are adjusted for inflation and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global life insurance market
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global life insurance market
- 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
Reasons to Buy
- What was the size of the global life insurance market by value in 2023?
- What will be the size of the global life insurance market in 2028?
- 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?
Key Topics Covered:
1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Competitive landscape
2 Introduction
2.1. What is this report about?
2.2. Who is the target reader?
2.3. How to use this report
2.4. Definitions
3 Global Life Insurance & Pension
3.1. Market Overview
3.2. Market Data
3.3. Market Segmentation
3.4. Market outlook
3.5. Five forces analysis
4 Macroeconomic Indicators
4.1. Country data
5 Life Insurance & Pension in Asia-Pacific
5.1. Market Overview
5.2. Market Data
5.3. Market Segmentation
5.4. Market outlook
5.5. Five forces analysis
6 Life Insurance & Pension in Europe
6.1. Market Overview
6.2. Market Data
6.3. Market Segmentation
6.4. Market outlook
6.5. Five forces analysis
7 Macroeconomic Indicators
7.1. Country data
A selection of companies mentioned in this report includes, but is not limited to:
- Aegon Ltd
- AgeSA Hayat ve Emeklilik AS
- AIA Australia Ltd
- AIA Group Ltd
- Alecta Pensionsforsakring Omsesidigt
- AlfaStrakhovanie Group
- Allianz SE
- Anadolu Hayat Emeklilik AS
- AP Pension Livsforsikringsaktieselskab
- ASR Nederland NV
- Assicurazioni Generali SpA
- Assurant Inc
- Avanza Bank Holding AB
- Aviva Plc
- Banco Bradesco SA
- BBVA
- BNP Paribas Cardif
- Brasilprev Seguros e Previdencia SA
- CaixaBank SA
- Cathay Life Insurance Co Ltd
- China Life Insurance Co Ltd
- China Pacific Life Insurance Co Ltd
- CNP Assurances SA
- Confederation Nationale du Credit Mutuel
- Credit Agricole SA
- Dai-ichi Life Holdings Inc
- Danica Pension AS
- Dela Cooperatie
- DNB Livsforsikring ASA
- Folksam
- Globe Life Inc
- Grupo Nacional Provincial SAB
- Guardrisk Insurance Company Ltd
- Hanwha Life Insurance Co Ltd
- HDFC Life Insurance Co Ltd
- Hollard Insurance Group
- ICICI Prudential Life Insurance Co Ltd
- Intesa Sanpaolo SpA
- KB Financial Group Inc
- Knights of Columbus
- Kommunal Landspensjonskasse
- Kyobo Life Insurance Co Ltd
- Legal & General Assurance Society Limited
- Liberty Group Ltd
- LocalTapiola Mutual Life Insurance Company
- Mandatum Life Insurance Co Ltd
- Manulife (Singapore) Pte Ltd
- Mapfre SA
- MetLife Inc
- Metropolitan Insurance Group Inc
- MLC Ltd Private Clients (Inactive)
- MS&AD Insurance Group Holdings, Inc.
- Nan Shan Life Insurance Co Ltd
- New York Life Insurance Co
- Nippon Life Insurance Co
- Nordea Life Assurance Finland Ltd
- Nordea Liv
- Old Mutual Life Assurance Co (South Africa) Ltd
- OP Financial Group
- PFA Pension Forsikringsaktieselskab
- Ping An Insurance (Group) Company of China Ltd
- Poste Vita SpA
- Prudential Financial Inc
- Prudential Plc
- PT Axa Mandiri Financial Services
- PT Panin Financial Tbk
- PT Paninvest Tbk
- R+V Versicherung AG
- Renaissance Life Insurance Company Russia
- Rosgosstrakh
- Rothesay Life Plc
- Samsung Life Insurance Co Ltd
- Santander Seguros y Reaseguros, Compania Aseguradora SA
- Sberbank Life Insurance
- SBI Life Insurance Co Ltd
- Scottish Widows Services Limited
- Skandinaviska Enskilda Banken AB
- SRLEV N.V.
- TAL Dai-ichi Life Australia Pty Ltd
- The Great Eastern Life Assurance Company Ltd
- The Northwestern Mutual Life Insurance Co
- The People's Insurance Company (Group) of China Ltd
- Tokio Marine Holdings Inc
- Turkiye Hayat Ve Emeklilik AS
- Velliv, Pension & Livsforsikring A/S
- VidaCaixa, S.A.U. de Seguros y Reaseguros
- Vienna Insurance Group AG
- Zurich Australia Ltd
- Zurich Insurance Group Ltd
For more information about this report visit https://www.researchandmarkets.com/r/8y3hk9
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