In 2023, the largest share of the U.S. life insurance market was held by Milwaukee-based Northwestern Mutual, which accounted for **** percent of the market. As a mutual society specializing in life insurance, Northwestern Mutual has attained a higher share of this market than diversified, publicly listed insurance giants like MetLife and Corebridge Financial (formerly AIG Life). In fact, many of the largest life insurance companies in the United States are not publicly listed, so do not factor into the list of the largest U.S. life insurance companies by market capitalization.

Shifting claims costs have incited revenue volatility in the Life Insurance industry. Insurers began to bounce back after navigating difficult business interruption incidents during the pandemic. Slowing claims payouts as pandemic-related deaths decelerated allowed many life insurers to regain their footing and claw back some revenue through their lagged premium price hikes. Additionally, insurers' investment returns have been extremely volatile on the back of international trade and geopolitical uncertainty. Life insurance providers protect against financial hardships from death, disability, major illness or injury. Loss of income can cause significant financial problems. A couple of recent demographic trends have raised questions about the viability of the life insurance industry in its current state. The first is that cost of living concerns, coupled with a lack of awareness from the general public, have caused higher cancellation rates and policy lapses. This has hammered premium income. Potential policyholders have had to make hard financial decisions. Additionally, financial hardship insurance is often the most lucrative to those with mortgages or dependents and with younger Australians landing in these categories at lesser proportions to previous generations, insurers are losing out on a profitable market share. From an expenses standpoint, Australia's ageing population is resulting in claims of higher frequency and magnitude per policy. Industry revenue is expected to have sunk at 4.9% over the five years through 2024-25, to $23.6 billion. Despite recent year premium price hikes providing some respite, demand-side inflationary concerns have weighed on the industry’s performance, with revenue anticipated to falter 2.7% in 2024-25. The industry’s profitability continues to rely heavily on investment revenue. In the coming years, insurers will remain at the whim of market conditions. Stronger investment returns and a renewed awareness of the benefits of life insurance coverage could support a modest upturn in premium income and revenue. Nevertheless, households and businesses are likely to be stretched budget-wise over the coming years, opting for short-term relief by avoiding life insurance premiums. This faltering demand is set to drop revenue at 1.5% over the five years through 2029-30, to reach $21.9 billion.

The United States Life and Non-Life Insurance Market Report is Segmented by Insurance Type (Life Insurance, Non-Life Insurance), Customer Segment (Retail, Corporate), Distribution Channel (Brokers, Agents, Banks, Direct Sales, Other Channels), and Geography (Northeast, Midwest, South, West). The Market Forecasts are Provided in Terms of Value (USD).

The number of life insurance companies in the United States rose significantly in the first few years of the time period under observation, before decreasing year-on-year until the present day. In 2023, there were a total of *** life insurance companies in the United States, down from *** in the previous year. The number of life insurers peaked in 1990, with well over ***** life insurance companies in the United States that year. Life and annuities in the United StatesBeing home to one of the largest insurance markets in the world, the life/annuity insurance industry in the United States generated a total revenue of over one trillion U.S. dollars in 2022. Generally, life insurance provides the insured individual's family with financial protection in the event that they die before meeting that individual's financial obligations. On the other hand, an annuity is a contract whereby the insured individual agrees to pay the insurer a certain amount of money, which then entitles them to receive a series of payments from the insurer in the future. Insurers dominate different areas of the industryThe U.S. insurance market is quite competitive, with different insurers leading the industry by varying factors. For instance, the largest life insurer on the U.S. market in 2021 was Northwestern Mutual when considering company market share. However, Prudential Financial was the largest life insurer in the U.S. in 2021 by the total value of assets held.

The Global Life and Non-Life Insurance Market Report is Segmented by Insurance Type (Life Insurance, Non-Life Insurance), Customer Segment (Retail, Corporate), Distribution Channel (Brokers, Agents, Banks, Direct Sales, Other Channels), and Geography (North America, South America, Europe, Middle East and Africa, Asia-Pacific). The Market Forecasts are Provided in Terms of Value (USD).

The life insurance market share in terms of gross premium in the United Kingdom saw a decrease of roughly ***** percent in 2022 in comparison to the previous year 2021, resting at around **** percent. This marked the third consecutive decline of the market share. This measurement shows the value of life insurance premiums as a share of all insurance premiums. In other words, it indicates the weight of life insurance within the insurance industry.Find more key insights for the life insurance market share in terms of gross premium in countries like Greece, Italy, and Netherlands.

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.

The market share of state-owned Life Insurance Corporation of India experienced a decline from ** percent in the financial year 2017 to over ** percent in 2024. This meant that private players gained traction and reported an increase in makret share over the years.

The statistic presents the value of gross premiums written by non-life insurance companies in the United States from 2009 to 2013 and a forecast thereof until 2025, by type. The value of accident and health insurance sector in the United States amounted to approximately **** billion U.S. dollars in 2013 and it was projected to grow to approximately ***** billion U.S. dollars in 2025.

Thailand Life Insurance Premiums: Single: General Insurance: Industry data was reported at 0.000 THB mn in Jun 2018. This stayed constant from the previous number of 0.000 THB mn for Mar 2018. Thailand Life Insurance Premiums: Single: General Insurance: Industry data is updated quarterly, averaging 0.000 THB mn from Mar 2016 (Median) to Jun 2018, with 10 observations. Thailand Life Insurance Premiums: Single: General Insurance: Industry data remains active status in CEIC and is reported by Office of Insurance Commission. The data is categorized under Global Database’s Thailand – Table TH.Z030: Life Insurance Statistics.

Denmark was the the OECD country with the highest reinsurance retention rate for life insurance in 2021, with **** percent. This means that **** percent of life insurance premiums taken on by Danish insurers were kept on their books, rather that being passed to reinsurers. This compares to an OECD average of **** percent, a ratio of **** percent in the United States, and **** percent in the United Kingdom.

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.

Graph and download economic data for Life Insurance Companies; Total Miscellaneous Assets, Level (BOGZ1FL543090005A) from 1945 to 2024 about life, miscellaneous, insurance, assets, and USA.

The Asia-Pacific Life and Non-Life Insurance Market is Segmented by Insurance Type (Life Insurance, Non-Life Insurance), Distribution Channel (Agency Force, Bancassurance, Brokers & IFAs, and More), Customer Segment (Retail / Mass Market, High-Net-Worth & Affluent, and More), and Region. The Market Forecasts are Provided in Value (USD).

Life Insurers' Policy Continuation Rate Statistics Table (Insurance Bureau)

Discover the booming global life and non-life insurance market! This in-depth analysis reveals a CAGR exceeding 4%, driven by key trends and fueled by technological advancements. Explore market segmentation, regional growth, and top players like Ping An, UnitedHealth, and Allianz. Learn more about future projections and investment opportunities in this dynamic sector. Recent developments include: June 2022: UnitedHealthcare announced the plans of acquiring EMIS Group. The EMIS Group is a leading health technology company based in the UK. The deal is expected to be an all-cash deal of GBP 1.24 billion (USD 1.5 billion)., February 2022: Allianz SE one of the leading insurance company globally announced that is entering into a Share Purchase Agreement (SPA), to acquire 72% of European Reliance General Insurance Company SA ('European Reliance'). European Reliance is one of the leader in the Greek insurance sector with a network of 5,667 agents and 110 retail offices.. Notable trends are: Cyber Insurance is Driving the Market.

Graph and download economic data for Life Insurance Companies; Total Financial Assets, Level (BOGZ1FL544090005Q) from Q4 1945 to Q2 2025 about life, insurance, assets, and USA.

In a survey of representatives of the life insurance industry in the United States, it was found that in 2019 the sector spent **** million U.S. dollars on advertising.

The Denmark Life and Non-Life Insurance Market Report is Segmented by Insurance Type (Life Insurance, Non-Life Insurance Including Motor, Health, Property, Liability, Other Insurance), Customer Segment (Retail, Corporate), Distribution Channel (Brokers, Agents, Banks, Direct Sales, Other Channels). The Market Forecasts are Provided in Terms of Value (USD).

In 2022, the life insurance market share in terms of gross premium in Finland ************** in comparison to the previous year. The life insurance market share in terms of gross premium remained at *** percent. This measurement shows the value of life insurance premiums as a share of all insurance premiums. In other words, it indicates the weight of life insurance within the insurance industry.Find more key insights for the life insurance market share in terms of gross premium in countries like Denmark, Iceland, and Norway.