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Life & Non-Life Insurance Market Share

Report ID: GMI7098
Published Date: Oct 2023
Report Format: PDF

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Life & Non-Life Insurance Market Share

Major players operating in the life & non-life insurance industry are:

AXA Group
China Life Insurance Company
Chubb Limited
Cigna
MetLife, Inc.
New York Life Insurance Company
Northwestern Mutual
Ping An Insurance Group
Prudential Financial
UnitedHealth Group

Ping An Insurance Group & UnitedHealth Group held a significant market share. The major players operating in the market typically exhibit extensive market presence, diversified product portfolios, strong financial stability, and advanced technological capabilities. They leverage these strengths to maintain competitive advantages, attract customers, and drive innovation in policies & customer experiences.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of life & non-life insurance was worth USD 8 trillion in 2022 and is estimated to register a CAGR of over 4.5% between 2023 and 2032.

In 2022, the non-life segment held a market share of over 42% in 2022 and is expected grow at highest CAGR through 2032, backed by the rising popularity of motor insurance with advanced features such as real-time tracking, accident prevention technologies, and personalized coverage options.

North America life & non-life insurance market held a major share of over 45% in 2022, propelled by technological advancements in insurtech, such as digital platforms and data analytics that enhance operational efficiency & improve customer experiences, along with regulatory support.

AXA Group, China Life Insurance Company, Chubb Limited, Cigna, MetLife, Inc., New York Life Insurance Company, Northwestern Mutual, Ping An Insurance Group, Prudential Financial, and UnitedHealth Group.