Insurance

Regulatory developments to drive UAE general insurance market to grow by 13.2% in 2023, says GlobalData

The United Arab Emirates (UAE) general insurance market is forecast to register double-digit growth of 13.2% in 2023, supported by regulatory developments and rising insurance premium rates, according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the UAE general insurance market accounted for 82.3% of the country’s conventional insurance industry […]

Insurance

Bangladesh general insurance industry to reach over $800 million by 2027, forecasts GlobalData

Bangladesh’s general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 8.8%, from BDT64 billion ($620.8 million) in 2023 to BDT89.8 billion ($809 million) in 2027 in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, the general insurance […]

Insurance

Compare the Market is the leading PCW within motor insurance, finds GlobalData

Compare the Market does not always produce the lowest quotes for motor insurance across the top four price comparison websites (PCWs) in the UK. Despite this, it is the market-leading PCW for motor insurance, according to GlobalData, a leading data and analytics company. According to GlobalData’s 2022 UK Insurance Consumer Survey, Compare the Market is […]

Insurance

Global cyber insurance market to reach $33.4 billion in 2027, says GlobalData

The global cyber insurance market registered significant growth in 2020 and 2021 largely due to substantially raised premiums. The increased frequency and severity of cyberattacks, coupled with the global shift to remote working in the wake of the pandemic, caused insurers to hike prices. Against this backdrop, the global cyber insurance market is forecast to […]

Insurance

Singapore property insurers will remain profitable in 2023 with adequate reinsurance coverage, says GlobalData

The Singapore property insurers are expected to remain profitable in 2023 due to disciplined underwriting, adequate reinsurance coverage, and growing premiums from compulsory fire insurance, says GlobalData, a leading data and analytics company. According to GlobalData, Singapore’s property insurance industry, in terms of gross written premiums, is projected to grow at a compound annual growth […]

Insurance

Malaysia life insurance industry to surpass $15.9 billion by 2027, forecasts GlobalData

The Malaysian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.2% from MYR57.5 billion ($13.1 billion) in 2023 to MYR70.3 billion ($15.9 billion) in 2027, in terms of gross written premiums (GWP), according to GlobalData, a leading data, and analytics company. According to GlobalData, Malaysia’s life insurance industry […]

Insurance

UK motor insurance customers must switch more to combat sharp premium hikes, says GlobalData

The UK motor insurance market has witnessed a significant rise in premiums, with a 20% increase year on year till April 2023, according to a poll by One Poll for Confused.com, causing considerable concern among consumers. Low switching rates among customers is one of the contributing factors to the sharp premium hikes. Against this backdrop, […]

Insurance

Peru general insurance market to reach $3.3 billion by 2027, forecasts GlobalData

Peru’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.4% from PEN9.1 billion ($2.3 billion) in 2022 to PEN13.1 billion ($3.3 billion) in 2027, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, the general insurance industry […]

Insurance

Sky’s smart home insurance product will modernize UK market, says GlobalData

Following the news that Sky has launched a home insurance product that uses smart home devices into the UK market; Benjamin Hatton, Insurance Analyst at GlobalData, a leading data and analytics company, offers his view: “Sky’s smart home insurance policy could change the UK home insurance market with its high level of smart technology integration. […]

Insurance

Favorable regulatory measures to drive growth in Indian general insurance industry in 2023, says GlobalData

The general insurance industry in India is forecast to grow by 11.4% in 2023 in terms of gross written premiums (GWP), supported by strong economic growth, favorable regulatory developments, and rapid digitalization in the industry, according to GlobalData, a leading data, and analytics company. According to GlobalData, India’s general insurance industry will grow at a […]

Insurance

Malaysia general insurance industry to reach $6.6 billion by 2027, forecasts GlobalData

Malaysia’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 8.3%, from MYR19.4 billion ($4.4 billion) in 2022 to MYR28.9 billion ($6.6 billion) in 2027 in terms of direct written premiums (DWP), driven by growth in automobile sales and infrastructure development that will support motor and property insurance growth, […]

Insurance

Property insurers in France will see continued losses over next five years, forecasts GlobalData

The property insurance business is expected to remain a loss-making line for French insurers over the next five years, with a loss ratio (ratio of incurred losses to earned premiums) exceeding 85% during 2023-2027, forecasts GlobalData, a leading data and analytics company. According to GlobalData, property insurance in France suffered losses during 2018-22, with loss […]

Insurance

India life insurance industry to reach $170 billion in 2027, says GlobalData

India’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 12.5% from INR9.0 trillion ($128.0 billion) in 2023 to INR14.5 trillion ($170.6 billion) in 2027, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance database, the Indian life insurance […]

Insurance

Singapore life insurance industry to reach $77 billion by 2027, forecasts GlobalData

Singapore’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.8% from SGD62.9 billion ($47.2 billion) in 2022 to SGD100.4 billion ($77.0 billion) in 2027 in terms of gross written premium (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance database, the Singapore life insurance […]

Insurance

Brokers in UK do not consider ESG essential in partnerships with insurers, says GlobalData

Brokers in the UK cannot name insurance leaders within the highly topical environmental, social, and governance (ESG) theme, which suggests that it is not yet an important factor in their relationships with insurers. ESG is a leading theme within the industry for which brokers and insurers will need to have clear strategies to continue to […]

Insurance

Indonesia general insurance industry to surpass $7 billion by 2027, forecasts GlobalData

The Indonesian general insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 9.0% from IDR77.2 trillion ($5.3 billion) in 2023 to IDR108.8 trillion ($7.1 billion) in 2027, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, Indonesia’s general […]

Insurance

Spain insurance industry direct written premiums to surpass $100 billion in 2027, forecasts GlobalData

The Spanish insurance industry is expected to grow at a compound annual growth rate (CAGR) of 5.3% from EUR64.1 billion ($76.6 billion) in 2022 to EUR82.9 billion ($101.1 billion) in 2027, in terms of direct written premiums (DWP), driven by the demand for life and health insurance, forecasts GlobalData, a leading data and analytics company. […]

Insurance

Deregulating digital innovations will boost growth in South Korean insurance industry, says GlobalData

The South Korean insurance industry is set to witness digital disruption as the implementation of the regulatory authority’s proposal to deregulate digital innovations will increase competition between neo-insurers and incumbents resulting in the rollout of innovative products, says GlobalData, a leading data and analytics company. According to GlobalData, the South Korean insurance industry is expected […]

Insurance

Consumer interest in alternative insurers declines in UK but threat level remains strong, says GlobalData

Consumer interest in moving towards alternative providers in home insurance has declined in the UK in 2022, which is likely a result of trust eroding in large tech and energy companies. Large tech, energy, or communications companies entering the home insurance market has always been a considerable threat, due to their digital expertise and large […]

Insurance

State-owned general insurers in India continue to lose market share to private insurers, says GlobalData

The combined market share of state-owned general insurers in India continues to witness a declining trend, falling from 51.3% in 2017 to 40.8% in 2021* as the insurers see significant losses in the motor and personal accident and health (PA&H) insurance lines, says GlobalData, a leading data, and analytics company. GlobalData’s Insurance Database reveals that […]

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Insurance

Regulatory developments to drive UAE general insurance market to grow by 13.2% in 2023, says GlobalData

Bangladesh general insurance industry to reach over $800 million by 2027, forecasts GlobalData

Compare the Market is the leading PCW within motor insurance, finds GlobalData

Global cyber insurance market to reach $33.4 billion in 2027, says GlobalData

Singapore property insurers will remain profitable in 2023 with adequate reinsurance coverage, says GlobalData

Malaysia life insurance industry to surpass $15.9 billion by 2027, forecasts GlobalData

UK motor insurance customers must switch more to combat sharp premium hikes, says GlobalData

Peru general insurance market to reach $3.3 billion by 2027, forecasts GlobalData

Sky’s smart home insurance product will modernize UK market, says GlobalData

Favorable regulatory measures to drive growth in Indian general insurance industry in 2023, says GlobalData

Malaysia general insurance industry to reach $6.6 billion by 2027, forecasts GlobalData

Property insurers in France will see continued losses over next five years, forecasts GlobalData

India life insurance industry to reach $170 billion in 2027, says GlobalData

Singapore life insurance industry to reach $77 billion by 2027, forecasts GlobalData

Brokers in UK do not consider ESG essential in partnerships with insurers, says GlobalData

Indonesia general insurance industry to surpass $7 billion by 2027, forecasts GlobalData

Spain insurance industry direct written premiums to surpass $100 billion in 2027, forecasts GlobalData

Deregulating digital innovations will boost growth in South Korean insurance industry, says GlobalData

Consumer interest in alternative insurers declines in UK but threat level remains strong, says GlobalData

State-owned general insurers in India continue to lose market share to private insurers, says GlobalData

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