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The Russian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 8% from RUB1.8 trillion ($20.9 billion) in 2024 to RUB2.5 trillion ($26.9 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 general insurance […]
Demand for new energy vehicles to drive growth in Chinese motor insurance market, says GlobalData
The Chinese motor insurance market is set to grow at a compound annual growth rate (CAGR) of 5.4% from CNY912.2 billion ($127.4 billion) in 2024 to CNY1.1 trillion ($158.9 billion) in 2028, driven by rising vehicle sales and the growing popularity of new energy vehicles (NEV), forecasts GlobalData, a leading data and analytics company. GlobalData’s […]
Mental wellbeing top concern for nearly three quarters of consumers globally, urging insurers to prioritize mental health support, says GlobalData
Concerning levels of mental wellbeing have been identified among selected countries, underscoring the need for intervention and attention in this critical area. This emphasizes the role of insurers and employers in addressing these concerns to enhance overall consumer wellbeing. Nearly three quarters of consumers globally see mental wellbeing as their top concern, according to a […]
UK election manifestos unlikely to alter demand for private medical insurance, says GlobalData
Following the news that the Conservative Party and Labour, among other political parties, are putting the NHS at the heart of their manifestos ahead of the upcoming UK general election; Beatriz Benito, Lead Insurance Analyst at GlobalData, a leading data and analytics company, offers her view: “The demand for private medical insurance (PMI) will not […]
Philippines general insurance industry to reach $3.8 billion in 2028, forecasts GlobalData
The Philippines’ general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.5% from PHP145.4 billion ($2.6 billion) in 2024 to PHP209.0 billion ($3.8 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 Philippines’ general […]
Thailand general insurance industry to reach $10.9 billion by 2028, forecasts GlobalData
The Thailand general insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 4.5% over 2024–28, from THB310.9 billion ($9 billion) in 2024 to THB370.8 billion ($10.9 billion) in 2028, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that […]
UAE general insurance industry to reach $12.4 billion by 2028, forecasts GlobalData
The United Arab Emirates (UAE) general insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.7% from AED37.8 billion ($10.3 billion) in 2024 to AED45.5 billion ($12.4 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, […]
Spain general insurance industry to surpass $60 billion by 2028, forecasts GlobalData
Spain’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.3% from EUR45.7 billion ($48.5 billion) in 2024 to EUR56.6 billion ($60.4 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, Spain’s general insurance industry […]
China motor insurance industry to surpass $158 billion by 2028, forecasts GlobalData
The Chinese motor insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.4% from CNY912.2 billion ($127.4 billion) in 2024 to CNY1,125.7 billion ($158.9 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 Chinese motor […]
India general insurance industry to reach $57.3 billion by 2028, forecasts GlobalData
India’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.9% from INR3.35 trillion ($40.36 billion) in 2024 to INR4.89 trillion ($57.3 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 general insurance industry […]
Malaysia general insurance industry to reach $6.8 billion by 2028, forecasts GlobalData
The Malaysian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.8% from MYR22.6 billion ($5.0 billion) in 2024 to MYR30.5 billion ($6.8 billion) in 2028, in terms of direct written premiums (DWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the general insurance […]
India life insurance industry to surpass $216 billion by 2028, forecasts GlobalData
India’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 10% from INR9.3 trillion ($151.7 billion) in 2024 to INR13.5 trillion ($216.1 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance database, after slowing down in […]
Baltimore bridge collapse incident unlikely to impact profitability of US insurers, says GlobalData
The Francis Scott Key Bridge collapse with the crash of container vessel Dali on March 26, 2024, in Baltimore was one of the most significant maritime losses in US history so far. As a result of the damages caused in terms of business interruptions and logistics scrambles, insurers will witness higher claims in 2024 across […]
Australia PA&H insurance industry to reach $27.8 billion by 2028, forecasts GlobalData
Australia’s personal accident and health (PA&H) insurance industry is forecasted to grow at a compound annual growth rate (CAGR) of 6.4% from AUD32 billion ($22.1 billion) in 2024 to AUD41 billion ($27.8 billion) in 2028, in terms of direct written premiums (DWP), according to GlobalData, a leading data, and analytics company. According to GlobalData’s Insurance […]
Technology adoption by private insurers changing competitive landscape of Indian motor insurance industry, says GlobalData
The competitive landscape of the motor insurance industry in India has undergone a constant change during 2018-22. While there was close competition between New India Assurance and ICICI Lombard to occupy the leading position in 2022, the entry of new players in the top 10 list has changed the competitive dynamics of the country’s motor […]
Property insurers in Taiwan expected to remain profitable despite recent earthquake, says GlobalData
The 7.2 magnitude earthquake that struck Taiwan’s east coast recently has brought significant challenges to the insurance industry. Despite causing substantial damage, particularly in Hualien with collapsed buildings and infrastructure disruptions, insurers are expected to weather the financial impact well. Government-backed schemes are anticipated to mitigate losses, although insurers may re-evaluate risk exposure and adjust […]
South Africa general insurance industry to surpass $10 billion by 2028, forecasts GlobalData
The South African general insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.8% from ZAR159.5 billion ($9.4 billion) in 2024 to ZAR192.7 billion ($10.4 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 […]
Indonesia life insurance industry to surpass $12 billion by 2028, forecasts GlobalData
The Indonesian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 3.8% over 2024–28, from IDR161.3 trillion ($10.5 billion) in 2024 to IDR187.2 trillion ($12.1 billion) in 2028, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that […]
Belgium general insurance industry to reach $17.7 billion by 2028, forecasts GlobalData
The Belgian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.1% from EUR14.3 billion ($14.7 billion) in 2024 to EUR16.8 billion ($17.7 billion) in 2028, in terms of direct written premiums (DWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, the general insurance […]
Indonesia general insurance industry to reach $11.5 billion in 2028, forecasts GlobalData
The Indonesian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 11.3% from IDR110.94 trillion ($7.3 billion) in 2024 to IDR170.39 trillion ($11.5 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 general insurance […]