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GlobalData
GlobalData

Insurance

Canada general insurance industry to surpass $90 billion by 2029, forecasts GlobalData

The Canadian general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.0% from CAD86.75 billion ($65.12 billion) in 2024 to CAD115.82 billion ($90.07 billion) in 2029, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database indicates that the general insurance industry in […]
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Donald Trump presidency to pose risk to low-income health insurance policyholders, says GlobalData

Donald Trump’s upcoming presidency is set to reshape the US health insurance landscape, with the expiration of Affordable Care Act (ACA) subsidies in 2025 looming as a pivotal concern. Medicare premiums, critical for millions, face uncertainty, risking inflation in healthcare costs and leaving low- to medium-income households vulnerable to limited or no coverage amidst rising […]
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South Korea general insurance industry to grow at 5.2% CAGR, driven by economic recovery and regulations, forecasts GlobalData

The general insurance industry in South Korea is poised for steady growth, with direct written premiums (DWP) expected to increase at a compound annual growth rate (CAGR) of 5.2%, from KRW34.1 trillion ($26 billion) in 2024 to KRW43.5 trillion ($33.3 billion) in 2029. This growth is driven by economic recovery, mandatory insurance regulations, and a […]
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US insurers face growing consumer demand for sustainability amid policy shifts, reveals GlobalData

A growing number of US consumers prioritize environmental practices in choosing their insurers, emphasizing the need for sustainability in the sector. Despite potential shifts in federal policies under President-elect Donald Trump, who opposes environmental, social, and governance (ESG) mandates, insurers must adapt to consumer-driven demands for eco-friendly initiatives to remain competitive, enhance customer trust, and […]
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Hurricane Helene and Milton damages will significantly impact profitability of US insurers, says GlobalData

Recent hurricanes Helene and Milton that have struck the US resulted in widespread devastation, claiming hundreds of lives and causing huge property damages. Hurricane Helene, which struck Florida’s Big Bend region as a Category 4 storm on September 26, 2024, resulted in catastrophic flooding throughout Florida, North Carolina, South Carolina, Georgia, and Ohio. The parts […]
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