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GlobalData
GlobalData

Insurance

Climate change and regulatory developments to drive South Korea reinsurance industry to reach $11.9bn in 2026, forecasts GlobalData

The South Korean reinsurance industry will grow at a compound annual growth rate (CAGR) of 7.0% from KRW9.6 trillion ($8.4 billion) in 2021 to KRW13.4 trillion ($11.9 billion) in 2026, in terms of gross written premiums (GWP), supported by climate change and positive regulatory developments, predicts GlobalData, a leading data and analytics company. GlobalData’s Global […]
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Russian life insurance industry forecast to decline by 7.3% in 2022 as Ukraine conflict continues to impact economy, says GlobalData

The economic impact of global sanctions placed on Russia following the country’s invasion of Ukraine, will decelerate the growth of the country’s life insurance industry over the next few years, found GlobalData. According to the leading data and analytics company, life insurance gross written premiums (GWP) in Russia are expected to decline by 7.3% in […]
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Insurtech investments fall by 79.6% in 2021 leading to job losses and tough economic conditions in 2022, says GlobalData

With several leading insurtech start-ups providers going bust or cutting staff, the COVID-19 pandemic and cost-of-living crisis are having a massive impact on the global insurtech industry, with leading data and analytics company GlobalData finding that investments into insurtech have fallen significantly in 2022. GlobalData’s Deals Database reveals that the value of global investments into insurtech fell […]
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More mayhem for UK insurers as sizzling temperatures return: Heatwaves and other weather-related events already account for 10.8% of home insurance claims, finds GlobalData

Scorching weather coupled with a lack of rain will create the perfect conditions for wildfires in the UK, and insurers should brace themselves for a rise in home insurance claims as flames spread into inhabited areas, says GlobalData. According to the leading data and analytics company, climate change and extreme weather conditions will only increase […]
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Over 20% of global executives believe blockchain is all hype as leading insurance blockchain body fails, says GlobalData

More than 20% of global executives are of the opinion that blockchain technology is all hype, as doubts about its industrial applicability increase due to the recent collapse of the Blockchain Insurance Industry Initiative (B3i), says GlobalData, a leading data and analytics company. GlobalData’s Q2 2022 Emerging Technology Trends Survey (sample size: 352) reveals that […]
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Four leading price comparison websites dominate UK’s motor insurance market as 96.7% of consumers use these websites, finds GlobalData survey

Analysis of GlobalData’s 2021 UK Insurance Consumer Survey revealed that four price comparison websites—Compare the Market, GoCompare, MoneySuperMarket and Confused.com—dominate the UK’s motor insurance market, with 96.7% of UK consumers stating that they use these websites. The leading data and analytics company notes that it is extremely difficult for new comparison sites to get a […]
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Thailand insurance industry to reach $36.1 billion by 2026, driven by life and health insurance products, forecasts GlobalData

The Thailand insurance industry is expected to grow at a compound annual growth rate (CAGR) of 4.7% from THB890.4 billion ($27.8 billion) in 2021 to THB1,1129.3 billion ($36.1 billion) in 2026, in terms of gross written premium (GWP), according to GlobalData, a leading data and analytics company. According to GlobalData, Thailand’s total insurance industry growth […]
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Life insurance industry in India to grow at 10.3% CAGR through 2026, driven by growing awareness and positive regulatory landscape, says GlobalData

The life insurance industry in India is set to grow at a compound annual growth rate (CAGR) of 10.3% from INR7.0 trillion ($92.3 billion) in 2021 to INR11.4 trillion ($150.6 billion) in 2026, in terms of gross written premiums, forecasts GlobalData, a leading data, and analytics company. Anjuli Shrivastava, Insurance Analyst at GlobalData, comments: “The […]
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Top 20 insurance companies witness revival in 2021 as the effects of the pandemic subside, says GlobalData

The performance of the top 20 global public insurance companies by revenue witnessed a revival in 2021, as COVID-19 restrictions were eased and global economic activity almost touched pre-pandemic levels, according to GlobalData’s Companies Database. The leading data and analytics company found that the average annual revenue growth of these companies stood at 9.5% while the […]
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Mexico’s general insurance industry to reach $26.1 billion by 2026 due to booming construction sector and increased health awareness, forecasts GlobalData

Mexico’s general insurance industry is expected, by GlobalData, to grow* at a compound annual growth rate (CAGR) of 7.5%, from $18.2 billion in 2021 to $26.1 billion in 2026. The leading data and analytics company notes that such growth will be driven by large infrastructure and construction projects, frequent occurrence of natural catastrophic events, and […]
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Removing the ‘File and Use’ health insurance policy that caused delays to COVID-19-related products will be a game-changer in India, says GlobalData

India’s insurance policy change from ‘File and Use’ to ‘Use and File’ will both improve choice for customers and help insurers get new products processed more quickly Older policy caused big delays in the introduction of COVID-19 insurance products General insurance industry in India will register a compound annual growth rate (CAGR) of 9.9% over […]
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