Business Analyst Report

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.

Property Insurance Complaints Statistics (Insurance Industry Development Center)

The Life Insurance Institution-level Statistics publication contains individual insurer level information about financial performance, position, and capital base and solvency data.

Introduction

Critical Illness Insurance Statistics: Critical illness insurance is a form of coverage that provides a one-time payout when the policyholder is diagnosed with specific severe medical conditions like cancer, heart attack, or stroke.

Unlike regular health insurance which covers medical expenses, critical illness insurance offers financial support for non-medical costs related to the illness. Such as lost income or additional expenses not covered by standard insurance.

The lump-sum payment is given upon the diagnosis of a covered critical illness, offering flexibility in how the funds are used.

This type of insurance aims to ease financial burdens during a challenging period, allowing individuals to focus on recovery without the added stress of economic consequences.

It's essential to carefully review policy details, as coverage can vary in terms of conditions covered, exclusions, and other specifics.

The Quarterly Life Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, solvency, capital adequacy and management capital, as well as details of the performance of individual product groups.

In 2023, the Health Insurance Market reached a value of USD 2,476 billion, and it is projected to surge to USD 3,974 billion by 2030.

Introduction

Pet Insurance Statistics: Pet insurance is a type of insurance coverage designed to help pet owners manage the costs associated with veterinary care for their pets.

It provides financial protection in case of unexpected accidents, illnesses, or injuries to pets. Just like health insurance for humans, pet insurance policies come with various coverage options, deductibles, and premium rates.

Actuarial Statistics Table for the Insurance Industry (Insurance Supervision and Control Department)

Life insurance ownership in the United States slightly declined again in 2024. In that year, ** percent of Americans owned life insurance, up from ** percent in 2023. Life insurance is a contract between an insurer and a policyholder, which is a form of financial protection for named beneficiaries of the insured person in case of their death. In 2023, the most common reason for owning life insurance was to cover burial and final expenses.

Introduction

Insurance Industry Statistics: ​The global insurance industry plays a pivotal role in providing financial security and stability across various sectors. In 2024, the market was valued at approximately USD 9 trillion, reflecting its substantial economic significance. The United States maintained its position as the largest insurance market, with direct premiums written totaling USD 3.226 trillion, representing 44.9% of the global market. China followed as the second-largest market, contributing USD 723 billion in direct premiums, accounting for 10.1% of the global share.

In terms of premium growth, the industry experienced a 3.3% increase in 2024, with advanced markets contributing 75% of this expansion. The property and casualty (P&C) insurance segment demonstrated robust performance, with global commercial P&C premiums increasing by an average of 8% annually over the past five years. Despite these gains, the industry faced challenges, including a 0.9% decline in global insurance premiums in 2024, marking the first decrease since 2017, attributed to increased market competition.

Additionally, the reinsurance sector experienced an 8% reduction in property catastrophe reinsurance costs globally, influenced by a record supply of capital. These dynamics underscore the complex landscape of the global insurance industry, characterized by growth opportunities alongside competitive and operational challenges.​

The Intermediated General Insurance Statistics publication provides an overview of intermediated general insurance placed with APRA-authorised general insurers, Lloyd's underwriters and unauthorised foreign insurers (UFIs). The statistical tables include detailed information about risks placed with UFIs.

Gross Written Premiums: General: Others data was reported at 24,569.681 SAR th in Sep 2023. This records a decrease from the previous number of 28,013.410 SAR th for Jun 2023. Gross Written Premiums: General: Others data is updated quarterly, averaging 34,610.502 SAR th from Mar 2009 (Median) to Sep 2023, with 59 observations. The data reached an all-time high of 312,719.483 SAR th in Mar 2022 and a record low of -2,883.589 SAR th in Dec 2019. Gross Written Premiums: General: Others data remains active status in CEIC and is reported by Saudi Central Bank. The data is categorized under Global Database’s Saudi Arabia – Table SA.Z020: Insurance Statistics. [COVID-19-IMPACT]

The Financial Services Commission provides information on the general status of life insurers, financial status of life insurers, major management indicators for life insurers, and major business activities of life insurers by inquiring the title base year and month.

National Situation Statistics Data Sheet (Policy Research Center)

Statistics - Insurance Intermediary Licence

The Quarterly General Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios.

In 2023, insurance penetration was highest in the South Africa where the value of insurance premiums accounted for almost ** percent of GDP. Insurance penetration is used as an indicator of insurance sector development within a country and is calculated as the ratio of total insurance premiums to gross domestic product in a given year. In 2023, the insurance penetration in United States equaled **** percent of its GDP. Thus, the value of insurance premiums written in United States in that year equaled more than one **th of its GDP. Auto insurance leads the U.S. P&C marketIn 2023, private passenger auto insurance held the largest share of net premiums written by property and casualty insurance companies in the United States. Additionally, commercial auto insurance also accounted for a significant portion of net premiums. Combined, these two insurance lines made up about ** percent of the property and casualty insurance market.United States' life insurance market Households often rely on life insurance to ensure financial stability for dependents and to cover obligations like debts, mortgages, and education costs. The number of life insurance companies in the United States has remained steady over the past five years. The United States' population has been gradually climbing during this time, which means that the number of potential insurance customers has also been increasing.

Net Written Premiums: General data was reported at 4,141,459.459 SAR th in Sep 2023. This records an increase from the previous number of 3,427,945.962 SAR th for Jun 2023. Net Written Premiums: General data is updated quarterly, averaging 2,083,705.900 SAR th from Mar 2010 (Median) to Sep 2023, with 55 observations. The data reached an all-time high of 4,537,323.330 SAR th in Mar 2017 and a record low of 724,784.231 SAR th in Dec 2010. Net Written Premiums: General data remains active status in CEIC and is reported by Saudi Central Bank. The data is categorized under Global Database’s Saudi Arabia – Table SA.Z020: Insurance Statistics. [COVID-19-IMPACT]

Data tables relating to benefits and services offered under the Health insurance (Jersey) Law 1967. https://www.gov.je/health/doctordentist/doctors/pages/healthcard.aspx https://www.gov.je/health/healthybody/pages/glutenfree.aspx