Insurance Global Market Sees Growth Rate Of 10% Through 2022

The global insurance market size is expected to grow from $5.38 trillion in 2021 to $5.94 trillion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global insurance market size is expected to grow to $8.40 trillion in 2026 at a CAGR of 9.1%.

What is the Global Insurance Market?

The insurance market consists of sales of insurance products by entities (organizations, sole traders, and partnerships) that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier).

Get a Sample of the global insurance market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=230&type=smp

What drives the Global Insurance Market?

The rapid growth in internet penetration and increased risks associated with internet use for critical transactions is driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime, and physical asset damage. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which are increasing by 25 million every quarter. Therefore, the rapid growth in internet penetration and increased risks associated with internet use drives the insurance market.

Get the full global insurance industry report here

Global Insurance Market Segments
The global insurance market is segmented:
By Type: Life Insurance, Property and Casualty Insurance, Health and Medical Insurance
By End-User: Corporate, Individual
By Mode: Online, Offline
By Geography: The regions covered in the insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Insurance Global Market Report 2022provides market size and growth forecasts for the insurance global market, insurance global market share, insurance global market segments and geographies, insurance market competitive landscape including leading competitors’ revenues, profiles and market shares. The insurance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Insurance Industry Playersinclude Allianz Group, Ping An Insurance, Axa Group, Anthem Inc., China Life Insurance, Centene, People's Insurance Company of China, Humana, Assicurazioni Generali S.p.A., and Japan Post Group. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.