Insurance industry and its branch institution statistics table (monthly report)

It is forecast that the global insurance market will grow by about ************ U.S. dollars between 2024 and 2029, reaching almost ** trillion U.S. dollars. How have gross premiums written evolved? Gross premiums written signify the total premiums collected by an insurer before deducting reinsurance and other related expenses. Between 2000 and 2020, the value of gross premiums written worldwide had more than doubled. The value of premiums written hit its peak in 2017, at approximately **** billion U.S. dollars, after which it continued to decline for the following years until 2019. However, in 2020, this figure grew by nearly **** percent as compared to the previous year. Which companies dominate the insurance market? In 2022, the leading global insurance companies by revenue were Berkshire Hathaway, Ping An Insurance and China Life Insurance. Considering the market capitalization of the largest insurance companies, Allianz occupied the first position with a valuation of nearly *** billion U.S. dollars. These industry titans, along with others such as AXA, AIA, MetLife, Chubb, etc., collectively shape the global insurance narrative through their extensive reach, diverse offerings, and significant market influence.

Between 2000 and 2023, the United States has consistently held the largest share of the insurance market globally. Alone, the U.S. made up ** percent of the entire insurance market in 2023. The five largest markets in 2023 combined held a market share of more than ** percent. The companies with the largest shares of the market in 2025 were the U.S.-headquartered UnitedHealth, Progressive and the German-based Allianz SE.

Over the years, the property and casualty insurance premiums written in the United States rose at a steady pace. In 2023, property and casualty insurance premiums written in the United States amounted to ***** billion U.S. dollars, while life and annuity premiums stood at ***** billion U.S. dollars.

This dataset is a synthetic yet realistic representation of personal auto insurance data, crafted using real-world statistics. While actual insurance data is sensitive and unavailable for public use, this dataset bridges the gap by offering a safe and practical alternative for building robust data science projects.

Why This Dataset? - Realistic Foundation: Synthetic data generated from real-world statistical patterns ensures practical relevance. - Safe for Use: No personal or sensitive information—completely anonymized and compliant with data privacy standards. - Flexible Applications: Ideal for testing models, developing prototypes, and showcasing portfolio projects.

How You Can Use It: - Build machine learning models for predicting customer conversion and retention. - Design risk assessment tools or premium optimization algorithms. - Create dashboards to visualize trends in customer segmentation and policy data. - Explore innovative solutions for the insurance industry using a realistic data foundation.

This dataset empowers you to work on real-world insurance scenarios without compromising on data sensitivity.

Insurance Statistics: No of Registered Insurers: Mandatory Insurance data was reported at 2.000 Unit in 2023. This records a decrease from the previous number of 3.000 Unit for 2022. Insurance Statistics: No of Registered Insurers: Mandatory Insurance data is updated yearly, averaging 3.000 Unit from Dec 2003 (Median) to 2023, with 21 observations. The data reached an all-time high of 3.000 Unit in 2022 and a record low of 2.000 Unit in 2023. Insurance Statistics: No of Registered Insurers: Mandatory Insurance data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA001: Insurance Statistics: Key Indicators.

This statistics shows the capital intensity of insurance industry in the United States in 2017, by branch. Capital intensity is the ratio of equity or capital required to generate one U.S. dollar of revenue. In 2017, life insurance companies had a capital intensity of ** percent in the United States, whereas health insurance companies had a capital intensity ratio of *** percent according to McKinsey. This means that life insurance companies needed almost *** times more capital to generate revenue than health insurance companies did.

In 2024, insurance premiums written in the United States amounted to **** trillion U.S. dollars, which includes property/casualty premiums in addition to life/annuity premiums. This market has been steadily expanding since 2009; however, it saw a decline in 2020 owing to the economic effects of the coronavirus (COVID-19) pandemic. The amount of money charged to the organization or person for the insurance coverage is known as the premium. Between 2021 and 2022, the value of gross premiums written in all 38 OECD countries grew by *** billion U.S. dollars. Which country leads the global insurance market? The United States was the leading direct premium writing country worldwide in terms of the value of written premiums. The non-life insurance sector turned out to be larger than the life sector in the United States. In 2023, the value of both life and non-life insurance premiums in the United States was estimated to account for approximately ** percent of the global market share. China was ranked second with a ** percent share of the global market. Leading insurance companies globally by revenue The Berkshire Hathaway Corporation, which is owned by Warren Buffett and has its headquarters in the United States state of Nebraska, ranked as the largest insurance company globally in 2023, with revenues exceeding *** billion U.S. dollars. Nonetheless, the subsequent largest insurer was Ping An Insurance, which is situated in the rapidly expanding Chinese city of Shenzhen.

Home insurance, often a cornerstone of financial stability for families, saw significant shifts in 2024. Rising natural disasters, an unpredictable economic landscape, and evolving demographics are changing the way insurers approach policies, coverage, and premiums. New trends emerged, highlighting the importance of affordable yet comprehensive coverage for homeowners. This article...

ISO is an independent advisory organization that collects information on a community's building-code adoption and enforcement services in order to provide a ranking for insurance companies. ISO assigns a Building Code Effectiveness Classification from 1 to 10 based on the data collected. Class 1 represents exemplary commitment to building-code enforcement.Municipalities with better rankings are lower risk, and their residents' insurance rates can reflect that. The prospect of minimizing catastrophe-related damage and ultimately lowering insurance costs gives communities an incentive to enforce their building codes rigorously.This page provides data for the Insurance Services Organization (ISO) performance measure. This data includes residential and commercial building code enforcement ratings for the City of Tempe.The performance measure dashboard is available at 1.15 Insurance Services Organization (ISO) RatingAdditional InformationSource: Insurance Service Organization RatingContact: Chris ThompsonContact E-Mail: Christopher_Thompson@tempe.govData Source Type: ExcelPreparation Method: Information added to Excel spreadsheet from rating reportPublish Frequency: Every 5 YearsPublish Method: ManualData Dictionary

National Situation Statistics Data Sheet (Policy Research Center)

In 2023, there were approximately ******million people employees in the insurance sector in the United States. Employment in the insurance industry Employment within the insurance industry has shown significant growth since 1960. Each decade, between 1960 and 2000, there was an increase in the number of employees which were employed in the industry – increasing by around ******* employees each decade. However, between 2000 and 2010, the number of employees declined from **** million to **** million. Some recovery and growth within employment can be seen to have occurred in 2014. This growth is likely the result of increasing numbers of agents, brokers and service employees in the insurance industry, which has been positive since 2010. Variation between segments The number of health insurance employees has also seen growth, but the number of employees in life insurance saw a significant decrease between 2000 and 2005 and stagnation ever since. Stagnation within industry employment is believed to be the result of many health insurance professionals entering retirement and these positions being left vacant or being replaced by increasing automation within the industry. The number of employees in the U.S. reinsurance industry has experienced an increasing trend in the last years, however, a lack of job growth within the industry is also seen as a threat to the business model of insurance companies.

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Insurance Market Size 2025-2029

The insurance market size is valued to increase USD 1461.5 billion, at a CAGR of 4.3% from 2024 to 2029. Increasing government regulations on mandatory insurance coverage in developing countries will drive the insurance market.

Major Market Trends & Insights

North America dominated the market and accounted for a 40% growth during the forecast period.
By Distribution Channel - Sales personnel segment was valued at USD 2995.10 billion in 2023
By Type - Life segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 50.22 billion
Market Future Opportunities: USD 1461.50 billion
CAGR : 4.3%
North America: Largest market in 2023

Market Summary

The market continues to evolve, shaped by advancements in core technologies and applications, shifting service types and product categories, and a tightening regulatory environment. For instance, the integration of wearables into customer engagement metrics for life insurance software is revolutionizing underwriting processes, offering personalized policies based on real-time health data. Meanwhile, the regulatory landscape is becoming more stringent, with increasing government regulations on mandatory insurance coverage in developing countries.
According to a recent study, the global wearable technology market in the insurance sector is projected to reach a 30% adoption rate by 2025. Amidst these changes, insurance providers must adapt to remain competitive and meet evolving customer expectations.

What will be the Size of the Insurance Market during the forecast period?

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How is the Insurance Market Segmented and what are the key trends of market segmentation?

The insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Sales personnel
  Insurance agencies


Type

  Life
  Non-life


Mode

  Offline
  Online


End-user

  Corporate
  Individual


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Distribution Channel Insights

The sales personnel segment is estimated to witness significant growth during the forecast period.

In the dynamic and evolving the market, sales personnel serve as the primary bridge between insurers and their clients, fostering long-term relationships. Specializing in various insurance products like life, health, auto, and property, these professionals must possess a deep understanding of their offerings' intricacies. They are tasked with effectively communicating policy features and benefits to customers, ensuring clear and concise explanations. Sales personnel collaborate not only with direct clients but also with brokers and agents to expand their reach. Reinsurance pricing, catastrophe modeling, and risk transfer mechanisms are integral aspects of their work. Leveraging advanced tools such as AI-powered underwriting, customer relationship management, and predictive modeling, sales personnel optimize their strategies for success.

Moreover, they employ risk assessment models, fraud detection algorithms, and insurtech solutions to enhance efficiency and mitigate risks. Compliance frameworks and regulatory requirements are strictly adhered to, with a focus on premium calculation methods, asset-liability management, and underwriting guidelines. The market exhibits continuous growth, with customer segmentation, capital management, and loss reserving methods gaining increasing importance. Machine learning models and claims processing software streamline operations, while investment strategies and solvency regulations ensure financial stability. Blockchain technology and digital insurance platforms further revolutionize the industry. According to recent studies, sales in the market have experienced a significant increase, with a 17.6% rise in 2020.

Furthermore, industry experts anticipate a 15.2% expansion in market size by 2025. These figures underscore the market's robustness and the potential for continued growth and innovation.

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The Sales personnel segment was valued at USD 2995.10 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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As of 2024, insurance industry premiums worldwide had experienced a real growth rate of *** percent. This growth has been expected to continue as the compound annual growth rate (CAGR) worldwide from 2025 to 2026 has been expected to reach *** percent.

Key Statistics on Business Performance and Operating Characteristics of the Financing and Insurance, Professional and Business Services Sectors - Table 645-75020 : Principal Statistics for All Establishments in the Insurance Industry by Detailed Industry

Graph and download economic data for Employment for Finance and Insurance: Insurance Carriers and Related Activities (NAICS 524) in the United States (IPUKN524W200000000) from 1987 to 2024 about finance, insurance, NAICS, IP, employment, and USA.

Between 2020 and 2022, the value of gross premiums written in all 38 OECD member countries grew by almost *** billion U.S. dollars. In 2022, this figure reached approximately *** trillion U.S. dollars, up from *** trillion U.S. dollars two years earlier. OECD member countries held the lion's share of the global insurance market over the past two decades. Which companies are the global leaders? The value of gross premiums generated by the insurance industry worldwide increased from **** trillion U.S. dollars in 2000 to *** trillion U.S. dollars in 2022. The whole insurance industry is divided into two broad categories – life insurance and non-life insurance (in the United States and Canada called property and casualty insurance). The leading global insurance companies in 2022 in terms of revenue were Berkshire Hathaway, Ping An Insurance, and China Life Insurance. Which country leads the global insurance market? The leading direct premium writing country worldwide was the United States, in terms of the value of written premiums. The non-life insurance sector was larger than the life sector in the United States. The value of both life and non-life insurance premiums in the United States accounted for approximately ** percent of the global market share in 2022. China was ranked second with **** percent of the global market share.

The insurance industry has always been about managing risk and providing security. However, as we move into 2025, the sector is undergoing an unprecedented digital transformation. Once reliant on manual processes and paper trails, insurance companies are now embracing new technologies that are redefining the way they operate. The shift...

Imagine you’re a farmer in Iowa, preparing for the year’s harvest season. Everything from corn to soybeans is growing well until an unexpected storm hits, leaving devastating losses in its wake. Traditional insurance policies could take months to assess the damages and settle claims, often with a significant shortfall from...

European insurance companies are more advanced with implementing digital enhancements to maintain resilience over the next **** months, according to a 2020 survey. ** percent of respondents in Europe were already implementing their digital transformation plans - slightly more than in North America, and significantly more than in the Asia Pacific region.