Insurance

GlobalData revises down global MAT insurance industry growth forecast due to increased US tariffs

The global marine, aviation, and transit (MAT) insurance industry, which was forecasted to grow at a compound annual growth rate (CAGR) of 6.9% before the imposition of the reciprocal tariff from the US, is now expected to grow at a CAGR of 6.4% during 2025-29, in terms of written premiums, according to GlobalData, a leading […]

Insurance

UK general insurance industry to reach $149 billion by 2029, forecasts GlobalData

The UK general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 5.0% from GBP92.9 billion ($119.7 billion) in 2025 to GBP113.0 billion ($149.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. As per GlobalData’s UK General Insurance Report, […]

Insurance

US tariffs likely to threaten Chinese insurers’ profitability, says GlobalData

On April 15, 2025, the US government announced that China would face tariffs of up to 245% on imports to the US as its retaliatory actions. The range of products subject to 245% tariffs includes syringes and needles from China. Additionally, lithium-ion batteries are subject to a 173% tariff, electric vehicles a 148% tariff, car […]

Insurance

South Korea motor insurance industry to surpass $18 billion by 2029, forecasts GlobalData

The motor insurance industry in South Korea is projected to grow at a compound annual growth rate (CAGR) of 4.5% from an estimated KRW20.9 trillion ($15.6 billion) in 2025 to KRW25.0 trillion ($18.6 billion) in 2029, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. According to GlobalData’s […]

Insurance

Embedded insurance emerges as game-changer in personal lines distribution, finds GlobalData

Embedded insurance is rapidly emerging as the most promising distribution model for personal lines, outpacing traditional channels. By integrating coverage seamlessly at the point of sale, it enhances customer convenience and boosts conversion rates. As digital ecosystems evolve, insurers that embrace embedded strategies will gain a competitive edge in reaching previously untapped and time-conscious consumer […]

Insurance

Vietnam general insurance industry to reach $3.9 billion by 2029, forecasts GlobalData

The general insurance industry in Vietnam is projected to grow at a compound annual growth rate (CAGR) of 7% from VND80.0 trillion ($3.2 billion) in 2025 to VND104.8 trillion ($3.9 billion) by 2029, in terms of gross written premium (GWP), according GlobalData, a leading data and analytics company. GlobalData’s Vietnam General Insurance Report reveals that […]

Insurance

US home insurance premiums set to climb as Trump tariffs drive up construction material costs, reveals GlobalData

The US homeowners are grappling with soaring insurance premiums, now the highest among surveyed nations, as rising rebuild costs compound financial pressure. The recent tariffs on imported construction materials—especially from China—threaten to further inflate costs, prompting insurers to reassess pricing strategies. With affordability and coverage adequacy at risk, the industry faces a critical juncture demanding […]

Insurance

Insurance industry faces consumer skepticism despite recognized AI benefits, finds GlobalData survey

Global consumers unanimously acknowledge the benefits of deploying artificial intelligence (AI) tools in insurance yet are skeptical about their commercial rollout. Despite high satisfaction among users of AI tools, insurers must address trust issues and prioritize transparency, especially around AI-driven decisions and data privacy. Building consumer confidence will be key as AI becomes more integrated […]

Insurance

Indonesia PA&H insurance industry to surpass $4 billion by 2029, forecasts GlobalData

Personal accident and health (PA&H) insurance in Indonesia is expected to grow at a strong compound annual growth rate (CAGR) of 13.4% from IDR38.6 trillion ($2.4 billion) in 2025 to IDR63.8 trillion ($4.0 billion) in 2029, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database, […]

Insurance

New Zealand general insurance industry to reach $9.6 billion by 2029, forecasts GlobalData

The New Zealand general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 8.3% from NZD11.8 billion ($7.1 billion) in 2024 to NZD16.3 billion ($9.6 billion) in 2029, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. GlobalData’s latest report “New Zealand General […]

Insurance

APAC reinsurance market to surpass $68 billion in 2029, forecasts GlobalData

The Asia-Pacific (APAC) reinsurance market is projected to grow at a compound annual growth rate (CAGR) of 4.8% from an estimated $54.0 billion in 2024 to $68.4 billion in 2029, in terms of reinsurance accepted premiums, driven by stable pricing and increased demand for catastrophe coverage, according to GlobalData, a leading data and analytics company. […]

Insurance

US car insurance premiums that rank among highest globally poised to go even higher with tariffs, says GlobalData

With the recent 25% tariffs imposed on goods imported from Mexico and Canada, the cost of vehicle repairs is expected to rise in the US, placing additional pressure on insurers to increase car insurance premiums, which are already among the highest globally, according to GlobalData, a leading data and analytics company. GlobalData’s 2024 Emerging Trends […]

Insurance

Trump’s tariffs threaten profitability of North American insurers, says GlobalData

On 1 February 2025, US President Donald Trump signed three executive orders to impose tariffs on imports from Canada, Mexico, and China. In retaliation, Canada announced it would impose a 25% tariff on CAD155 billion ($117.8 billion) worth of US goods. Moreover, Trump increased the US tariff rate on steel and aluminum to 25% on […]

Insurance

Rapidly growing cyber market presents range of issues for insurers, says GlobalData

The speed at which cyber insurance has grown and continues to grow as a product means insurers are cautious not to overexpose themselves in a particular risky line. A lack of built-up knowledge around historical data, how to assess risk, and how to manage claims are some of the leading concerns around cyber insurance from […]

Insurance

APAC motor insurance industry to surpass $301 billion by 2029, forecasts GlobalData

The motor insurance industry in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 5.6% from an estimated $229.2 billion in 2024 to $301.7 billion in 2029, in terms of written premiums, according to GlobalData, a leading data and analytics company. GlobalData’s Global Motor Insurance Market report reveals […]

Insurance

Lack of expertise primary barrier to AI adoption in insurance, finds GlobalData

A lack of expertise within insurance companies is the biggest challenge to implementing artificial intelligence (AI) technology. As AI has the potential to transform the insurance industry, insurers must prioritize talent acquisition and upskilling efforts to build the necessary expertise for AI integration, according to a recent poll by GlobalData, a leading data and analytics […]

Insurance

Vietnam life insurance market to contract for third consecutive year in 2025, forecasts GlobalData

The life insurance market in Vietnam is forecast to contract by 1.3% to VND146.1 trillion ($6.0 billion) in 2025 from VND148.0 trillion ($6.1 billion) in 2024, in terms of gross written premium (GWP), following successive negative growths of 12% in 2023 and an estimated 5.7% in 2024 due to irregularities in bancassurance sales and economic […]

Insurance

New Zealand life insurance market to reach $4.8 billion by 2029, forecasts GlobalData

The life insurance market in New Zealand is projected to grow from NZD5.9 billion ($3.5 billion) in 2024 to NZD8.3 billion ($4.8 billion) in 2029 registering a compound annual growth rate (CAGR) of 7.0%, in terms of gross written premium (GWP), driven by increasing demand for whole life and personal accident and health (PA&H) insurance, […]

Insurance

Los Angeles wildfires to impact profitability of US property insurers, says GlobalData

The Los Angeles (LA) area in the US has witnessed a devastating impact from a series of wildfires that erupted since the second week of January. There were 312 wildfires that resulted in 28 deaths and the destruction of 16,255 structures as of 29 January, with the Palisades and Eaton wildfires continuing to burn, according […]

Insurance

AI, ESG, and cyber will be the key insurance themes in 2025, says GlobalData

The insurance industry is set to be defined by the transformative impact of artificial intelligence (AI), environmental, social, and governance (ESG), and cyber risk management in 2025. As consumers increasingly embrace AI-driven solutions and express growing interest in personal cyber coverage, insurers face both challenges and significant opportunities to innovate, personalize offerings, and integrate emerging […]

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Insurance

GlobalData revises down global MAT insurance industry growth forecast due to increased US tariffs

UK general insurance industry to reach $149 billion by 2029, forecasts GlobalData

US tariffs likely to threaten Chinese insurers’ profitability, says GlobalData

South Korea motor insurance industry to surpass $18 billion by 2029, forecasts GlobalData

Embedded insurance emerges as game-changer in personal lines distribution, finds GlobalData

Vietnam general insurance industry to reach $3.9 billion by 2029, forecasts GlobalData

US home insurance premiums set to climb as Trump tariffs drive up construction material costs, reveals GlobalData

Insurance industry faces consumer skepticism despite recognized AI benefits, finds GlobalData survey

Indonesia PA&H insurance industry to surpass $4 billion by 2029, forecasts GlobalData

New Zealand general insurance industry to reach $9.6 billion by 2029, forecasts GlobalData

APAC reinsurance market to surpass $68 billion in 2029, forecasts GlobalData

US car insurance premiums that rank among highest globally poised to go even higher with tariffs, says GlobalData

Trump’s tariffs threaten profitability of North American insurers, says GlobalData

Rapidly growing cyber market presents range of issues for insurers, says GlobalData

APAC motor insurance industry to surpass $301 billion by 2029, forecasts GlobalData

Lack of expertise primary barrier to AI adoption in insurance, finds GlobalData

Vietnam life insurance market to contract for third consecutive year in 2025, forecasts GlobalData

New Zealand life insurance market to reach $4.8 billion by 2029, forecasts GlobalData

Los Angeles wildfires to impact profitability of US property insurers, says GlobalData

AI, ESG, and cyber will be the key insurance themes in 2025, says GlobalData

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