Insurance is a business that provides coverage, in the form of compensation resulting from loss, damages, injury, treatment or hardship in exchange for premium payments. The company calculates the risk of occurrence then determines the cost to replace (pay for) the loss to determine the premium amount.
The insurance market is very fragment market; the premiums of top twenty-four players account about 25% of the total premiums in 2016.
Gross premiums increased in most countries in the life, non-life or both segments in 2015. This growth may be a sign or a consequence of more favourable economic conditions, leading individuals to purchase insurance products. In most countries, the relatively low penetration of insurance (especially in South America and some Asian countries) shows that the insurance sector still has significant room to expand. In some countries, gross premiums declined where the continued low interest rates may have deterred individuals from purchasing life insurance products with lower guarantees. The economic context can directly impact the real developments of the life or the non-life sector as the example of Brazil where the high inflation outpaced the nominal growth of non-life premiums shows.
In 2018, the global Insurance market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Insurance status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Insurance development in United States, Europe and China.
The key players covered in this study
Ping An Insurance
China Life Insurance
Nippon Life Insurance
Japan Post Holdings
Legal & General
Market segment by Type, the product can be split into
Market segment by Application, split into
Digital & Direct Channels
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Insurance status, future forecast, growth opportunity, key market and key players.
To present the Insurance development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Insurance are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.