The Life And Non-Life Insurance Global Market Report 2023, provides comprehensive information on the life and non-life insurance market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Life And Non-Life Insurance Market’s Growth:
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The global life and non-life insurance market size is expected to grow from $8,361.05 billion in 2022 to $8,852.01 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global life and non-life insurance market size is expected to reach $10,665.39 billion in 2027 at a CAGR of 4.8%.
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Technological advancements are a key trend gaining popularity in the life and non-life insurance market. Major companies operating in the life and non-life insurance market are focused on developing new technological solutions to strengthen their position. For instance, in March 2023, Sure Insurance LLC, a US-based digital insurance provider, launched Retrace, an e-commerce solution. This unique technology enables online retailers to provide clients with inbuilt one-click insurance and protection. It includes a collection of APIs (application programming interfaces) that let online retailers integrate security and insurance for various use cases. The inbuilt Retrace Return Shipping Protection is a ground-breaking new technology that makes online purchasing less frustrating for consumers and retailers.
The life and non-life insurance market is segmented:
1) By Insurance Type: Life Insurance, Non-Life Insurance
2) By Coverage Type: Lifetime Coverage, Term Coverage
3) By Distribution Channels: Direct Sales, Brokers And Individual Agents, Bankers, Other Channels
4) By End Users: Corporates, Individuals, Other End Users
North America was the largest region in the life and non-life insurance market in 2022.
The table of contents in TBRC’s life and non-life insurance market report includes:
- Executive Summary
- Life And Non-Life Insurance Market Characteristics
- Life And Non-Life Insurance Market Trends And Strategies
- Life And Non-Life Insurance Market – Macro Economic Scenario
- Life And Non-Life Insurance Market Size And Growth
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- Middle East Life And Non-Life Insurance Market
- Africa Life And Non-Life Insurance Market
- Life And Non-Life Insurance Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Life And Non-Life Insurance Market
- Life And Non-Life Insurance Market Future Outlook and Potential Analysis
Top Major Players
- Ping An Insurance (Group)
- China Life Insurance Company Limited.
- Allianz SE
- Axa SA
- Prudential plc
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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