Insurance

Saudi Arabia general insurance industry to surpass $28 billion by 2029, forecasts GlobalData

Saudi Arabia’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 8.9% from SAR68.8 billion ($18.4 billion) in 2024 to SAR105.3 billion ($28.1 billion) in 2029, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that Saudi Arabia’s general […]

Insurance

LIC’s entry into health insurance could significantly boost company’s market share, says GlobalData

State-owned company Life Insurance Corporation of India (LIC) is expected to enter the health insurance industry in 2025 by acquiring a stake in a standalone health insurance entity. By capitalizing on its existing customer base, the company’s expansion into the health insurance domain could significantly boost its market share in the insurance sector in the […]

Insurance

South Korea insurance industry to surpass $191 billion by 2029, forecasts GlobalData

South Korea’s insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 3.4% from KRW 218.3 trillion ($167.1 billion) in 2025 to KRW 249.7 trillion ($191.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the […]

Insurance

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 […]

Insurance

Malaysia general insurance industry to reach $6.8 billion by 2028, forecasts GlobalData

Malaysia’s general insurance industry is forecasted to grow at a compound annual growth rate (CAGR) of 7.8% from MYR22.6 billion ($5 billion) in 2024 to MYR30.5 billion ($6.8 billion) in 2028, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, the general insurance […]

Insurance

Japan property insurance industry to reach $26.5 billion by 2028, forecasts GlobalData

The Japanese property insurance industry is set to grow at a compound annual growth rate (CAGR) of 2.8% from JPY3.2 trillion ($22.4 billion) in 2024 to JPY3.6 trillion ($26.5 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. As per GlobalData’s Insurance Database, Japan’s property insurance […]

Insurance

Over a third of global insurance consumers are ready for AI, finds GlobalData

Technology is becoming increasingly indispensable to the insurance industry, whether it is using artificial Intelligence (AI) and Internet of Things (IoT) to bolster user experience or offering tech-related products such as cyber and parametric insurance. Against this backdrop, a significant proportion of global consumers are open to interacting with AI for their insurance policy, even […]

Insurance

Japan life insurance industry to surpass $371 billion in 2029, forecasts GlobalData

The Japanese life insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.7% from JPY39.7 trillion ($275.8 billion) in 2024 to JPY50.0 trillion ($371.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the life […]

Insurance

Taiwan general insurance industry to surpass $12 billion in 2028, forecasts GlobalData

The Taiwanese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.8% from TWD279.8 billion ($9.0 billion) in 2024 to TWD364.2 billion ($12.2 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the Taiwan general […]

Insurance

Malaysia life insurance industry to surpass $17 billion by 2028, forecasts GlobalData

The Malaysian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.2% over 2024–28, from MYR63.2 billion ($13.9 billion) in 2024 to MYR77.3 billion ($17.2 billion) in 2028, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that […]

Insurance

Brazil general insurance industry to surpass $85 billion by 2028, forecasts GlobalData

The general insurance industry in Brazil is expected to grow at a compound annual growth rate (CAGR) of 8.8% from BRL307.3 billion ($61.6 billion) to BRL430.7 billion ($85.7 billion), in terms of direct written premiums (DWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that Brazil’s general insurance industry is expected […]

Insurance

Japan general insurance industry to reach $93.9 billion by 2028, forecasts GlobalData

The Japanese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 2.2% from JPY11.7 trillion ($81.1 billion) in 2024 to JPY12.7 trillion ($93.9 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the Japan general […]

Insurance

South Africa general insurance industry to surpass $11 billion in 2028, forecasts GlobalData

The South African general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.8% from ZAR181.5 billion ($9.8 billion) in 2024 to ZAR227.6 billion ($11.2 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the South […]

Insurance

Philippines life insurance industry to surpass $7 billion by 2028, forecasts GlobalData

The Philippine life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.4% from PHP319.8 billion ($5.8 billion) in 2024 to PHP395 billion ($7.1 billion) in 2028, in terms of net written premiums (NWP), according to GlobalData, a leading data, and analytics company. According to GlobalData’s Insurance Database, the life […]

Insurance

Thailand life insurance industry to surpass $23 billion by 2028, forecasts GlobalData

Thailand’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.4% from THB660.4 billion ($19.2 billion) in 2024 to THB781.7 billion ($23.1 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance database, Thailand’s life insurance industry […]

Insurance

Malaysia motor insurance industry to reach $3.1 billion by 2028, forecasts GlobalData

The Malaysian motor insurance market is set to grow at a compound annual growth rate (CAGR) of 7.5% from MYR10.6 billion ($2.3 billion) in 2024 to MYR14.2 billion ($3.1 billion) in 2028, in terms of gross written premiums, forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that motor insurance is expected to […]

Insurance

Cyber risk the standout global challenge for insurance industry, says GlobalData

Cyber risk is now deemed the most significant threat to the insurance industry, surpassing natural catastrophes and political risks, according to insurance insiders. With cyberattacks on the rise post-COVID-19, insurers face mounting pressure to enhance proactive risk management and convince businesses of the critical need for robust cyber protection strategies, says GlobalData, a leading data […]

Insurance

APAC property insurance industry to surpass $152 billion by 2028, forecasts GlobalData

The property insurance industry in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8% from an estimated $93.1 billion in 2023 to $152.2 billion in 2028, in terms of written premiums, according to GlobalData, a leading data and analytics company. According to GlobalData’s latest report, “Property Insurance […]

Insurance

India health insurance industry to surpass $23 billion by 2028, forecasts GlobalData

The Indian health insurance industry is set to grow at a compound annual growth rate (CAGR) of 12.8% from INR1.3 trillion ($15.1 billion) in 2024 to INR2.0 trillion ($23.8 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the share of […]

Insurance

Insurance industry sees surge in clean energy and carbon capture patents, reveals GlobalData

The insurance industry is witnessing a significant surge in patents related to clean energy insurance and carbon capture, reflecting a strategic shift towards supporting sustainable energy initiatives. With the first half (H1) of 2024 patents data showing promising results for the year and notable collaborations like Zurich Insurance Group and Aon for hydrogen projects, the […]

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Insurance

Saudi Arabia general insurance industry to surpass $28 billion by 2029, forecasts GlobalData

LIC’s entry into health insurance could significantly boost company’s market share, says GlobalData

South Korea insurance industry to surpass $191 billion by 2029, forecasts GlobalData

Hurricane Helene and Milton damages will significantly impact profitability of US insurers, says GlobalData

Malaysia general insurance industry to reach $6.8 billion by 2028, forecasts GlobalData

Japan property insurance industry to reach $26.5 billion by 2028, forecasts GlobalData

Over a third of global insurance consumers are ready for AI, finds GlobalData

Japan life insurance industry to surpass $371 billion in 2029, forecasts GlobalData

Taiwan general insurance industry to surpass $12 billion in 2028, forecasts GlobalData

Malaysia life insurance industry to surpass $17 billion by 2028, forecasts GlobalData

Brazil general insurance industry to surpass $85 billion by 2028, forecasts GlobalData

Japan general insurance industry to reach $93.9 billion by 2028, forecasts GlobalData

South Africa general insurance industry to surpass $11 billion in 2028, forecasts GlobalData

Philippines life insurance industry to surpass $7 billion by 2028, forecasts GlobalData

Thailand life insurance industry to surpass $23 billion by 2028, forecasts GlobalData

Malaysia motor insurance industry to reach $3.1 billion by 2028, forecasts GlobalData

Cyber risk the standout global challenge for insurance industry, says GlobalData

APAC property insurance industry to surpass $152 billion by 2028, forecasts GlobalData

India health insurance industry to surpass $23 billion by 2028, forecasts GlobalData

Insurance industry sees surge in clean energy and carbon capture patents, reveals GlobalData

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