Insurance

General insurance industry in China to reach US$313.0bn in 2025, forecasts GlobalData

The general insurance industry in China is projected to grow from CNY1.36 trillion (US$196.8bn) in 2020 to CNY2.13 trillion (US$313.0bn) in 2025, in terms of direct written premiums (DWP), forecasts GlobalData, a leading data and analytics company. As per the latest data from GlobalData, the general insurance industry in China is expected to grow at […]

Insurance

Slowdown in motor insurance to drag down Malaysian general insurers growth in 2021, says GlobalData

Malaysian general insurers’ growth is expected to slow down in 2021 due to decline in vehicle sales accompanied by halt in production driven by global automobile chip shortage, says GlobalData, a leading data and analytics company. Motor insurance was the leading segment in the Malaysian general insurance industry, accounting for 48.7% share of the direct […]

Insurance

Chile’s general insurance industry to reach CLP4.6 trillion in 2025, forecasts GlobalData

The Chilean general insurance industry is projected to grow from CLP3.2 trillion (US$4 billion) in 2020 to CLP4.6 trillion (US$5.8 billion) in 2025, in terms of gross written premiums, according to GlobalData. The leading data and analytics company notes that Chile’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) […]

Insurance

Portugal’s general insurance industry to reach €6.7bn in 2025

Portugal’s general insurance industry is projected to grow from €5.28bn (US$6.03bn) in 2020 to €6.68bn (US$8.35bn) in 2025 in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. As per the latest data from GlobalData, the general insurance industry in Portugal is projected to grow at a compound annual […]

Insurance

UK SMEs recognize an insurers sustainability credentials but value price and reputation more

An insurer’s record on sustainability is important to small and medium sized enterprises (SMEs), but it is the least important factor when it comes to choosing one, according to GlobalData. The leading data and analytics company’s 2021 UK SME Insurance Survey found that, while a high proportion of SMEs rank sustainability as being important to […]

Insurance

24.9% of UK SMEs have purchased cyber insurance due to increased remote working, says GlobalData

Almost one quarter of small-to-medium enterprises (SMEs) in the UK have purchased cyber insurance due to increased remote working as a result of COVID-19, according to a survey* by GlobalData. The leading data and analytics company also notes that 21.6% of firms purchased cover based on media coverage of cyberattacks. Benjamin Hatton, Insurance Analyst at […]

Insurance

M&A in Singapore life insurance industry to further consolidate position of top 10 insurers in 2021, says GlobalData

Singapore life insurance industry is highly concentrated with the top 10 insurers accounting for 95% market share in 2020. Boost in demand for life insurance products, and mergers and acquisitions (M&A) will further consolidate the country’s life insurance industry in 2021, finds GlobalData, a leading data and analytics company. Swarup Kumar Sahoo, Senior Insurance Analyst […]

Insurance

UK SMEs value sustainability but not when it comes to choosing insurers, says GlobalData

An insurer’s record in sustainability is the least important factor to UK-based small-to-medium enterprises (SMEs) when it comes to choosing insurers, according to a recent survey by GloalData*. The leading data and analytics company asked UK SMEs to rank factors ranging from the cost of a policy to the speed at paying claims in terms […]

Insurance

Digitalization to support online life bancassurance sales in Asia-Pacific, says GlobalData

An accelerated pace of digitalization in the financial sector across the Asia-Pacific (APAC) region due to the COVID-19 pandemic is expected to support the growth of online life bancassurance, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Global Bancassurance Market to 2025 – Analysing Key Performance Indicators, Key Trends, Drivers and […]

Insurance

Over 33% of UK SMEs have increased their support of mental and physical wellbeing compared to before the COVID-19 pandemic, says GlobalData

More than one third of UK small-to-medium enterprises (SMEs) have, to some extent, increased their support for mental and physical wellbeing since the start of the COVID-19 pandemic, according to a survey* by GlobalData. The leading data and analytics company notes that this comes as 67.8%** of people in the UK were found to be […]

Insurance

China life insurance industry to reach US$665.7bn in 2025, forecasts GlobalData

The life insurance industry in China is projected to grow from CNY3.2 trillion (US$459 bn) in 2020 to CNY4.5 trillion (US$665.7bn) in 2025, in terms of direct written premium (DWP), according to GlobalData, a leading data and analytics company. As per the latest data from GlobalData, China’s life insurance industry is forecasted to grow at […]

Insurance

Japan life insurance industry to reach US$323.6bn in 2025, forecasts GlobalData

The life insurance industry in Japan is projected to grow from JPY28.7 trillion (US$269.2bn) in 2020 to JPY30.7 trillion (US$323.6bn) in 2025, in terms of direct written premium (DWP), according to GlobalData, a leading data and analytics company. GlobalData has revised Japan’s life insurance forecast in the aftermath of the COVID-19 outbreak. As per the […]

Insurance

Top four insurers dominate South Korean motor insurance industry in 2020, says GlobalData

Motor insurance was the largest segment in the South Korean general insurance industry, accounting for 35.5% share in terms of gross written premiums (GWP) in 2020. Top four motor insurers continue to dominate the market with 84.3% market share in 2020, which grew from 79.0% in 2016, finds GlobalData, a leading data and analytics company. […]

Insurance

Vietnam life insurance industry to grow at over 23% CAGR through 2025, forecasts GlobalData

The life insurance industry in Vietnam is projected to grow at a compound annual growth rate (CAGR) of 23.7% over 2020-2025, according to GlobalData, a leading data and analytics company. According to GlobalData’s Global Insurance Database, the Vietnam life insurance industry is forecasted to grow from VND129.3 trillion (US$5.6bn) in 2020 to VND375.4 trillion (US$16.3bn) […]

Insurance

Gender pay gap: It is harder for UK women to save for retirement

Findings from GlobalData’s 2021 UK Life & Pensions Survey reveal that women will have considerably smaller pension pots than men when they reach state pension age. The leading data and analytics company notes that women are still hindered by the gender pay gap and the need to take breaks from work for childcare. Beatriz Benito, […]

Insurance

Furloughed workers in UK increased pension contributions amid COVID-19, says GlobalData

According to the 2021 UK Life & Pensions Survey by GlobalData, 17.3% of furloughed workers in the UK have increased their pension contributions since the start of the COVID-19 pandemic. Further, the leading data and analytics company noted that 78.3% of furloughed workers made employee contributions of at least 6% – higher than the 5% […]

Insurance

General insurance industry in Saudi Arabia to reach SAR46.4bn in 2025, says GlobalData

Saudi Arabia’s general insurance industry is projected to grow from SAR37.5bn (US$10bn) in 2020 to SAR46.4bn (US$12.3bn) in 2025 in terms of gross written premiums, according to GlobalData. The leading data and analytics company notes that the COVID-19 crisis has prompted insurers to develop new products and expand their offerings. GlobalData has revised Saudi Arabia’s […]

Insurance

General insurance industry in Japan to reach US$133.1bn in 2025, forecasts GlobalData

The general insurance industry in Japan is projected to grow from JPY11.1 trillion (US$104.1bn) in 2020 to JPY12.6 trillion (US$133.1bn) in 2025, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. GlobalData has revised Japan’s general insurance forecast in the aftermath of the COVID-19 pandemic. As per the […]

Insurance

Life insurance industry in Indonesia to recover from 2021, forecasts GlobalData

The life insurance industry in Indonesia is forecasted to recover in 2021, driven by increased consumer confidence, according to GlobalData, a leading data and analytics company. GlobalData has revised Indonesia’s life insurance forecast in the aftermath of the COVID-19 pandemic. As per the latest data, Indonesia’s life insurance industry is projected to grow from IDR185.1 […]

Insurance

Dai-ichi consolidates dominant position in Australia with Westpac life insurance acquisition, says GlobalData

TAL Dai-ichi Life Australia, a wholly owned subsidiary of Japan-based Dai-ichi Life Holdings, has recently signed a binding share sale agreement to acquire Westpac Banking Corp’s life insurance business in Australia for AUD900m (US$660m). The agreement will allow TAL to strengthen its position as the largest life insurer in in Australia, says GlobalData, a leading […]

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Insurance

General insurance industry in China to reach US$313.0bn in 2025, forecasts GlobalData

Slowdown in motor insurance to drag down Malaysian general insurers growth in 2021, says GlobalData

Chile’s general insurance industry to reach CLP4.6 trillion in 2025, forecasts GlobalData

Portugal’s general insurance industry to reach €6.7bn in 2025

UK SMEs recognize an insurers sustainability credentials but value price and reputation more

24.9% of UK SMEs have purchased cyber insurance due to increased remote working, says GlobalData

M&A in Singapore life insurance industry to further consolidate position of top 10 insurers in 2021, says GlobalData

UK SMEs value sustainability but not when it comes to choosing insurers, says GlobalData

Digitalization to support online life bancassurance sales in Asia-Pacific, says GlobalData

Over 33% of UK SMEs have increased their support of mental and physical wellbeing compared to before the COVID-19 pandemic, says GlobalData

China life insurance industry to reach US$665.7bn in 2025, forecasts GlobalData

Top four insurers dominate South Korean motor insurance industry in 2020, says GlobalData

Vietnam life insurance industry to grow at over 23% CAGR through 2025, forecasts GlobalData

Gender pay gap: It is harder for UK women to save for retirement

Furloughed workers in UK increased pension contributions amid COVID-19, says GlobalData

General insurance industry in Saudi Arabia to reach SAR46.4bn in 2025, says GlobalData

General insurance industry in Japan to reach US$133.1bn in 2025, forecasts GlobalData

Life insurance industry in Indonesia to recover from 2021, forecasts GlobalData

Dai-ichi consolidates dominant position in Australia with Westpac life insurance acquisition, says GlobalData

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