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Life And Non Life Insurance Market

Life And Non Life Insurance Market

Life and Non-Life Insurance Market, By Type (Life Insurance, (Individual, Group), Non-Life Insurance (Home, Motor)); By Distribution Channel (Direct, Agency, Banks); By Region (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA)), Global Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: November 2024
  • Report ID: BWC24870
  • Available Format: PDF
  • Page: 455

Report Overview

Increasing awareness of financial protection, rising healthcare costs, regulatory changes, growing disposable incomes, technological advancements, and a rising aging population drive the growth of Global Life and Non-Life Insurance Market during the forecast period between 2024 and 2030.

Global Life and Non-Life Insurance Market – Industry Trends & Forecast Report, 2030

Global Life and Non-Life Insurance Market size by value was estimated at USD 8,513.3 billion in 2023. During the forecast period between 2024 and 2030, Global Life and Non-Life Insurance Market size is expected to expand at a CAGR of 5.17% reaching a value of USD 12,112.7 billion by 2030. Global Life and Non-Life Insurance Market is driven by several key factors including rising disposable incomes, increasing awareness about financial security, and advancements in technology. These factors encourage more individuals and businesses to invest in insurance policies, ensuring protection against unforeseen events and enhancing overall financial stability.

Life and Non-Life Insurance Market

Life and Non-Life Insurance – Overview

Life and non-life insurance products refer to different types of coverage. Life insurance provides financial protection to beneficiaries in the event of the policyholder's death, covering term, whole, and universal life insurance. Non-life insurance, also known as general insurance, includes coverage for assets and property, such as health, auto, home, and liability insurance. It protects against risks like accidents, theft, and natural disasters, ensuring financial stability and risk management for individuals and businesses.

Global Life and Non-Life Insurance Market

Growth Drivers

Growing Awareness about the Need for Financial Security

Global Life and Non-Life Insurance Market is witnessing significant growth, driven by growing awareness about the need for financial security. As economic uncertainties and risks become more evident, individuals and businesses are increasingly seeking insurance products to protect against unforeseen events. This shift in awareness is fueling the demand for both life and non-life insurance policies across the globe. Insurers are adapting by offering innovative products, customizable plans, and extensive coverage options to meet evolving consumer needs. The growing recognition of insurance as a critical element for financial stability and long-term security is further propelling market growth and expansion.

Challenges

Increasing Number of Natural Catastrophes

Natural catastrophes, such as earthquakes, floods, hurricanes, and wildfires, pose significant risks to Global Life and Non-Life Insurance Market. Natural calamities could result in a substantial increase in claims, leading to higher financial liabilities for insurers. The unpredictability and severity of such disasters make it challenging for insurers to accurately assess risks, potentially causing volatility in premium pricing and affecting profitability. The uncertainty hampers the market's growth and stability, particularly in regions prone to frequent natural disasters.

Impact of Escalating Geopolitical Tensions on Global Life and Non-Life Insurance Market

Intensifying geopolitical tensions among countries and further spreading across the major regions could adversely affect Global Life and Non-Life Insurance Market. Heightened risks, such as wars, political instability, and sanctions, lead to increased uncertainties and volatilities, prompting insurers to adjust pricing and terms. For life insurance, geopolitical instabilities could drive demand for products focused on financial security and protection against uncertain futures. On the non-life insurance side, companies may face higher claims related to property damage, business interruption, and liability coverage in conflict zones. Further, insurers may raise premiums or withdraw from high-risk regions, impacting overall market dynamics. These tensions also affect investment portfolios, influencing the profitability of insurers globally. Ultimately, global instability can drive both risks and opportunities in the insurance market.

Global Life and Non-Life Insurance Market

Segmental Coverage

Global Life and Non-Life Insurance Market – By Type

By type, Global Life and Non-Life Insurance Market is divided into Life Insurance and Non-Life Insurance. The life insurance segment is further classified into Individual and Group segments. On the other hand, the non-life insurance segment is further subdivided into Home and Motor segments. The Non-Life Insurance segment holds the largest share, driven by the widespread demand for Motor Insurance. This is attributed to the rising global vehicle ownership and regulatory requirements for motor coverage. Within life insurance, the individual insurance segment dominates due to increasing awareness of personal financial security. However, the robust growth in home and motor insurance makes the non-life sector the most significant contributor overall, underpinned by economic development and risk mitigation needs.

Life and Non-Life Insurance Market Size

Global Life and Non-Life Insurance Market – By Distribution Channel

Based on distribution channel, Global Life and Non-Life Insurance Market is divided into Direct, Agency, and Banks segments. The direct segment emerges as the largest, driven by the increasing use of online platforms and direct channels for policy purchases. The rise in digital adoption allows insurers to reach customers efficiently, offering convenience and cost savings. Additionally, the direct segment benefits from transparent pricing and streamlined processes, which appeal to tech-savvy and cost-conscious consumers. This trend is further fueled by advancements in mobile and digital communication technologies.

Life and Non-Life Insurance Market Share

Global Life and Non-Life Insurance Market – By Region

Geographically, Global Life and Non-Life Insurance Market is divided into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America typically emerges as the leading region, due to the region's high insurance penetration rates, strong regulatory frameworks, and significant consumer awareness. The United States, as the primary contributor, leads in both life and non-life insurance sectors due to its large economy and established insurance culture. Additionally, advanced technological integration in insurance operations and product innovation further strengthen North America's leadership in this market.

Life and Non-Life Insurance Market Growth

Competitive Landscape

Key players in the highly competitive Global Life and Non-Life Insurance Market include Ping An Insurance Group, UnitedHealth Group, Allianz, AXA Group, China Life, AIA Group, MetLife, Zurich Insurance, and Cigna. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion 

Market Coverage

North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Product/Service Segmentation

Type, Distribution Channel, Region

Key Players

Ping An Insurance Group, UnitedHealth Group, Allianz, AXA Group, China Life, AIA Group, MetLife, Zurich Insurance, Cigna

 

By Type

  • Life Insurance

  1. Individual

  2. Group

  • Non-Life Insurance

  1. Home

  2. Motor

By Distribution Channel

  • Direct

  • Agency

  • Banks

By Region

  • North America

  • Europe

  • Asia Pacific (APAC)

  • Latin America (LATAM)

  • Middle East and Africa (MEA)

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Global Life and Non-Life Insurance Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising awareness of the need for financial security
        2. Increasing exposure to risk
      2. Restraints
        1. Complex and illiquid products
        2. Natural catastrophes
      3. Opportunities
        1. Growing disposable incomes
      4. Challenges
        1. Regulatory complexity
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Global Life and Non-Life Insurance Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
        1. Life Insurance
          1. Individual
          2. Group
        2. Non-Life Insurance
          1. Home
          2. Motor
          3. Others
      2. By Distribution Channel
        1. Direct
        2. Agency
        3. Banks
        4. Others
      3. By Region
        1. North America
        2. Europe
        3. Asia Pacific (APAC)
        4. Latin America (LATAM)
        5. Middle East and Africa (MEA)
  5. North America Life and Non-Life Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By Country
        1. United States
          1. By Type
          2. By Distribution Channel
        2. Canada
          1. By Type
          2. By Distribution Channel
  6. Europe Life and Non-Life Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By Country
        1. Germany
          1. By Type
          2. By Distribution Channel
        2. United Kingdom
          1. By Type
          2. By Distribution Channel
        3. Italy
          1. By Type
          2. By Distribution Channel
        4. France
          1. By Type
          2. By Distribution Channel
        5. Spain
          1. By Type
          2. By Distribution Channel
        6. Belgium
          1. By Type
          2. By Distribution Channel
        7. Russia
          1. By Type
          2. By Distribution Channel
          3.  
        8. The Netherlands
          1. By Type
          2. By Distribution Channel
        9. Rest of Europe
          1. By Type
          2. By Distribution Channel
  7. Asia Pacific Life and Non-Life Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By Country
        1. China
          1. By Type
          2. By Distribution Channel
        2. India
          1. By Type
          2. By Distribution Channel
        3. Japan
          1. By Type
          2. By Distribution Channel
        4. South Korea
          1. By Type
          2. By Distribution Channel
        5. Australia & New Zealand
          1. By Type
          2. By Distribution Channel
        6. Indonesia
          1. By Type
          2. By Distribution Channel
        7. Malaysia
          1. By Type
          2. By Distribution Channel
        8. Singapore
          1. By Type
          2. By Distribution Channel
        9. Vietnam
          1. By Type
          2. By Distribution Channel
        10. Rest of APAC
          1. By Type
          2. By Distribution Channel
  8. Latin America Life and Non-Life Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By Country
        1. Brazil
          1. By Type
          2. By Distribution Channel
        2. Mexico
          1. By Type
          2. By Distribution Channel
        3. Argentina
          1. By Type
          2. By Distribution Channel
        4. Peru
          1. By Type
          2. By Distribution Channel
        5. Rest of LATAM
          1. By Type
          2. By Distribution Channel
  9. Middle East & Africa Life and Non-Life Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By Country
        1. Saudi Arabia
          1. By Type
          2. By Distribution Channel
        2. UAE
          1. By Type
          2. By Distribution Channel
        3. Qatar
          1. By Type
          2. By Distribution Channel
        4. Kuwait
          1. By Type
          2. By Distribution Channel
        5. South Africa
          1. By Type
          2. By Distribution Channel
        6. Nigeria
          1. By Type
          2. By Distribution Channel
        7. Algeria
          1. By Type
          2. By Distribution Channel
        8. Rest of MEA
          1. By Type
          2. By Distribution Channel
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Global Life and Non-Life Insurance Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Escalating Geopolitical Tensions on Global Life and Non-Life Insurance Market
  12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Ping An Insurance Group
    2. UnitedHealth Group
    3. Allianz
    4. AXA Group
    5. China Life
    6. AIA Group
    7. MetLife
    8. Zurich Insurance
    9. Cigna
    10. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research˙
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       Global Life and Non-Life Insurance  Segmentation

Figure 2       Global Life and Non-Life Insurance Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Global Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 5       Global Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 6       Global Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 7       Global Life and Non-Life Insurance Market Share, By Region, By Value, 2019–2030

Figure 8       North America Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 9       North America Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 10     North America Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 11     North America Life and Non-Life Insurance Market Share, By Country, By Value, 2019–2030

Figure 12     United States Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 13     United States Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 14     United States Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 15     Canada Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 16     Canada Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 17     Canada Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 18     Europe Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 19     Europe Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 20     Europe Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 21     Europe Life and Non-Life Insurance Market Share, By Country, By Value, 2019–2030

Figure 22     Germany Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 23     Germany Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 24     Germany Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 25     United Kingdom Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 26     United Kingdom Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 27     United Kingdom Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 28     Italy Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 29     Italy Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 30     Italy Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 31     France Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 32     France Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 33     France Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 34     Spain Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 35     Spain Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 36     Spain Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 37     Belgium Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 38     Belgium Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 39     Belgium Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 40     Russia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 41     Russia Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 42     Russia Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 43     The Netherlands Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 44     The Netherlands Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 45     The Netherlands Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 46     Rest of Europe Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 47     Rest of Europe Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 48     Rest of Europe Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 49     Asia Pacific Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 50     Asia Pacific Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 51     Asia Pacific Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 52     Asia Pacific Life and Non-Life Insurance Market Share, By Country, By Value, 2019–2030

Figure 53     China Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 54     China Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 55     China Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 56     India Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 57     India Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 58     India Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 59     Japan Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 60     Japan Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 61     Japan Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 62     South Korea Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 63     South Korea Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 64     South Korea Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 65     Australia & New Zealand Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 66     Australia & New Zealand Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 67     Australia & New Zealand Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 68     Indonesia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 69     Indonesia Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 70     Indonesia Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 71     Malaysia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 72     Malaysia Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 73     Malaysia Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 74     Singapore Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 75     Singapore Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 76     Singapore Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 77     Vietnam Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 78     Vietnam Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 79     Vietnam Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 80     Rest of APAC Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 81     Rest of APAC Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 82     Rest of APAC Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 83     Latin America Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 84     Latin America Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 85     Latin America Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 86     Latin America Life and Non-Life Insurance Market Share, By Country, By Value, 2019–2030

Figure 87     Brazil Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 88     Brazil Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 89     Brazil Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 90     Mexico Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 91     Mexico Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 92     Mexico Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 93     Argentina Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 94     Argentina Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 95     Argentina Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 96     Peru Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 97     Peru Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 98     Peru Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 99     Rest of LATAM Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 100   Rest of LATAM Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 101   Rest of LATAM Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 102   Middle East and Africa Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 103   Middle East and Africa Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 104   Middle East and Africa Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 105   Middle East and Africa Life and Non-Life Insurance Market Share, By Country, By Value, 2019–2030

Figure 106   Saudi Arabia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 107   Saudi Arabia Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 108   Saudi Arabia Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 109   UAE Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 110   UAE Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 111   UAE Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 112   Qatar Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 113   Qatar Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 114   Qatar Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 115   Kuwait Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 116   Kuwait Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 117   Kuwait Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 118   South Africa Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 119   South Africa Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 120   South Africa Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 121   Nigeria Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 122   Nigeria Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 123   Nigeria Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 124   Algeria Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 125   Algeria Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 126   Algeria Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 127   Rest of MEA Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 128   Rest of MEA Life and Non-Life Insurance Market Share, By Type, By Value, 2019–2030

Figure 129   Rest of MEA Life and Non-Life Insurance Market Share, By Distribution Channel, By Value, 2019–2030

 

List of Tables

 

Table 1        Global Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 2        Global Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 3        Global Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 4        Global Life and Non-Life Insurance Market Size, By Region, By Value, 2019–2030

Table 5        North America Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 6        North America Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 7        North America Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 8        North America Life and Non-Life Insurance Market Size, By Country, By Value, 2019–2030

Table 9        United States Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 10      United States Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 11      United States Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 12      Canada Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 13      Canada Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 14      Canada Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 15      Europe Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 16      Europe Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 17      Europe Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 18      Europe Life and Non-Life Insurance Market Size, By Country, By Value, 2019–2030

Table 19      Germany Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 20      Germany Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 21      Germany Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 22      United Kingdom Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 23      United Kingdom Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 24      United Kingdom Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 25      Italy Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 26      Italy Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 27      Italy Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 28      France Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 29      France Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 30      France Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 31      Spain Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 32      Spain Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 33      Spain Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 34      Belgium Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 35      Belgium Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 36      Belgium Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 37      Russia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 38      Russia Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 39      Russia Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 40      The Netherlands Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 41      The Netherlands Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 42      The Netherlands Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 43      Rest of Europe Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 44      Rest of Europe Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 45      Rest of Europe Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 46      Asia Pacific Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 47      Asia Pacific Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 48      Asia Pacific Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 49      Asia Pacific Life and Non-Life Insurance Market Size, By Country, By Value, 2019–2030

Table 50      China Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 51      China Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 52      China Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 53      India Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 54      India Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 55      India Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 56      Japan Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 57      Japan Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 58      Japan Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 59      South Korea Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 60      South Korea Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 61      South Korea Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 62      Australia & New Zealand Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 63      Australia & New Zealand Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 64      Australia & New Zealand Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 65      Indonesia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 66      Indonesia Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 67      Indonesia Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 68      Malaysia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 69      Malaysia Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 70      Malaysia Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 71      Singapore Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 72      Singapore Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 73      Singapore Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 74      Vietnam Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 75      Vietnam Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 76      Vietnam Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 77      Rest of APAC Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 78      Rest of APAC Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 79      Rest of APAC Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 80      Latin America Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 81      Latin America Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 82      Latin America Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 83      Latin America Life and Non-Life Insurance Market Size, By Country, By Value, 2019–2030

Table 84      Brazil Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 85      Brazil Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 86      Brazil Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 87      Mexico Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 88      Mexico Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 89      Mexico Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 90      Argentina Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 91      Argentina Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 92      Argentina Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 93      Peru Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 94      Peru Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 95      Peru Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 96      Rest of LATAM Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 97      Rest of LATAM Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 98      Rest of LATAM Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 99      Middle East and Africa Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 100    Middle East and Africa Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 101    Middle East and Africa Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 102    Middle East and Africa Life and Non-Life Insurance Market Size, By Country, By Value, 2019–2030

Table 103    Saudi Arabia Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 104    Saudi Arabia Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 105    Saudi Arabia Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 106    UAE Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 107    UAE Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 108    UAE Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 109    Qatar Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 110    Qatar Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 111    Qatar Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 112    Kuwait Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 113    Kuwait Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 114    Kuwait Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 115    South Africa Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 116    South Africa Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 117    South Africa Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 118    Nigeria Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 119    Nigeria Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 120    Nigeria Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 121    Algeria Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 122    Algeria Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 123    Algeria Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 124    Rest of MEA Life and Non-Life Insurance Market Size, By Value (USD Billion), 2019–2030

Table 125    Rest of MEA Life and Non-Life Insurance Market Size, By Type, By Value, 2019–2030

Table 126    Rest of MEA Life and Non-Life Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 127    Ping An Insurance Group Company Overview

Table 128    Ping An Insurance Group Financial Overview

Table 129    UnitedHealth Group Company Overview

Table 130    UnitedHealth Group Financial Overview

Table 131    Allianz Company Overview

Table 132    Allianz Financial Overview

Table 133    AXA Group Company Overview

Table 134    AXA Group Financial Overview

Table 135    China Life Company Overview

Table 136    China Life Financial Overview

Table 137    AIA Group Company Overview

Table 138    AIA Group Financial Overview

Table 139    MetLife Company Overview

Table 140    MetLife Financial Overview

Table 141    Zurich Insurance Company Overview

Table 142    Zurich Insurance Financial Overview

Table 143    Cigna Company Overview

Table 144    Cigna Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Global Life and Non-Life Insurance Market size by value was estimated at USD 8,513.3 billion in 2023.
Ans: Global Life and Non-Life Insurance Market by value is expected to grow at a CAGR of 5.17% during the forecast period between 2024 and 2030.
Ans: Global Life and Non-Life Insurance Market size is forecast to reach a value of USD 12,112.7 billion by 2030.
Ans: Growth of Global Life and Non-Life Insurance Market is primarily driven by increasing awareness of financial protection, rising healthcare costs, regulatory changes, growing disposable incomes, technological advancements, and a rising aging population.
Ans: Asia Pacific is expected to grow at the fastest CAGR in Global Life and Non-Life Insurance Market during the forecast period between 2024 and 2030.
Ans: The non-life insurance segment accounts for the highest market share of Global Life and Non-Life Insurance Market by type.
Ans: Key players in Global Life and Non-Life Insurance Market include Ping An Insurance Group, UnitedHealth Group, Allianz, AXA Group, China Life, AIA Group, MetLife, Zurich Insurance, and Cigna.
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