Global Life Insurance market was estimated at USD 1,157.11 billion in 2021, and is anticipated to reach USD 2021.96 billion by 2028, growing at a CAGR of 8.3%.
1. Global Life Insurance Market Research Report, 2023-
2029
Market Value:
• 2021 = USD 1,157.11 billion
• 2028 = USD 2021.96 billion
• CAGR = 8.3%
• Date Published: January 2023
Publisher: Introspective Market Research
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Annual Market Size and Forecast
Technological Roadmap & Regulatory Landscape
Analysis on type and applications
Industry Value Chain Analysis
Analysis on Major Trends
Key strategies by Top Market Players
Market Share Analysis 2021
REPORT OUTCOMES
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Global Life Insurance market was estimated at USD 1,157.11 billion in 2021, and is
anticipated to reach USD 2021.96 billion by 2028, growing at a CAGR of 8.3%.
The selling of life insurance plans makes up the market. When an insured individual die, a life
insurance broker enters into a legal arrangement with the policyholder in which the insurer
agrees to pay a specified beneficiary a sum of money in return for a premium. Through
underwriting insurance annuities, insurance companies are mainly involved in risk pooling.
The insurance industry has changed dramatically as a result of robotic process automation and
artificial intelligence. The market is employing robotic process automation and artificial
intelligence to reliably predict results, enhance customer experience, direct the creation of new
products, identify threats, and cross-promote products. Aditya Birla, for example.
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The global Life Insurance Market report provides comprehensive market information,
including classifications, definitions, and market analysis. This also helps with the awareness
of various item specifics, the manufacturing cycle, the supply chain, and the cost structure.
Along these lines, the understanding of the project's structural squares and key drivers of
development is enhanced. To estimate the market size, boundaries such as import and fare,
rules in various nations, inflation, legal and political variables, financial elements, and other
minor aspects inside organizations have been broken down. The research examines the
competitive landscape as well as the most current positions of major rivals in the Life
Insurance industry.
Segmentation of Life Insurance Market: -
By Type
• Term life insurance
• Whole life insurance
• Universal life insurance
• Others
By Provider
• Private Agencies
• Government Agencies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of
APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
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Top Key Players Covered Life Insurance Market: -
• Allianz
• AXA
• Nippon Life Insurance
• American Intl. Group
• Aviva
• Assicurazioni Generali
• State Farm Insurance
• Dai-ichi Mutual Life Insurance
• Munich Re Group
• Zurich Financial Services
• Prudential
• Asahi Mutual Life Insurance
• Sumitomo Life Insurance
• Aegon
• MetLife
• Swiss Reinsurance
• CNP Assurances
• Meiji Yasuda Life Insurance Company
• Standard Life Assurance
• WanaArtha Life
• Asian Life Insurance Company
• AIA Group Limited
• China Life Insurance Company Limited
• China Ping An Life Insurance Company Limited
• ACE Group
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Report Includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures and Statues?
• What are the opportunities that shall aid in significant proliferation of the market
growth?
• What are the regional and country wise regulations that shall either hamper or boost
the demand for Action Figures and Statues?
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• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?
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Table of Content: -
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Provider
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Life Insurance Market by Type
5.1 Life Insurance Market Overview Snapshot and Growth Engine
5.2 Life Insurance Market Overview
5.3 Term life Insurance
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Term life Insurance: Grographic Segmentation
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5.4 Whole life Insurance
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2028F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Whole life Insurance: Grographic Segmentation
5.5 Universal life Insurance
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Universal life Insurance: Grographic Segmentation
5.6 Others
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size (2016-2028F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Others: Grographic Segmentation
Chapter 6: Life Insurance Market by Provider
6.1 Life Insurance Market Overview Snapshot and Growth Engine
6.2 Life Insurance Market Overview
6.3 Private Agencies
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2016-2028F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Private Agencies: Grographic Segmentation
6.4 Government Agencies
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2016-2028F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Government Agencies: Grographic Segmentation
6.5 Others
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2016-2028F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Others: Grographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Positioning
7.1.2 Life Insurance Sales and Market Share By Players
7.1.3 Industry BCG Matrix
7.1.4 Ansoff Matrix
7.1.5 Life Insurance Industry Concentration Ratio (CR5 and HHI)
7.1.6 Top 5 Life Insurance Players Market Share
7.1.7 Mergers and Acquisitions
7.1.8 Business Strategies By Top Players
7.2 ALLIANZ
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Operating Business Segments
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7.2.5 Product Portfolio
7.2.6 Business Performance
7.2.7 Key Strategic Moves and Recent Developments
7.2.8 SWOT Analysis
7.3 AXA
7.4 NIPPON LIFE INSURANCE
7.5 AMERICAN INTL. GROUP
7.6 AVIVA
7.7 ASSICURAZIONI GENERALI
7.8 STATE FARM INSURANCE
7.9 DAI-ICHI MUTUAL LIFE INSURANCE
7.10 MUNICH RE GROUP
7.11 ZURICH FINANCIAL SERVICES
7.12 PRUDENTIAL
7.13 ASAHI MUTUAL LIFE INSURANCE
7.14 SUMITOMO LIFE INSURANCE
7.15 AEGON
7.16 METLIFE
7.17 SWISS REINSURANCE
7.18 CNP ASSURANCES
7.19 MEIJI YASUDA LIFE INSURANCE COMPANY
7.20 STANDARD LIFE ASSURANCE
7.21 WANAARTHA LIFE
7.22 ASIAN LIFE INSURANCE COMPANY
7.23 AIA GROUP LIMITED
7.24 CHINA LIFE INSURANCE COMPANY LIMITED
7.25 CHINA PING AN LIFE INSURANCE COMPANY LIMITED
7.26 ACE GROUP
7.27 OTHER MAJOR PLAYERS
Chapter 8: Global Life Insurance Market Analysis, Insights and Forecast, 2016-2028
8.1 Market Overview
8.2 Historic and Forecasted Market Size By Type
8.2.1 Term life Insurance
8.2.2 Whole life Insurance
8.2.3 Universal life Insurance
8.2.4 Others
8.3 Historic and Forecasted Market Size By Provider
8.3.1 Private Agencies
8.3.2 Government Agencies
8.3.3 Others
Chapter 9: North America Life Insurance Market Analysis, Insights and Forecast, 2016-2028
To Be Continued…
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This research study involved the extensive usage of both primary and secondary data
sources. The research process involved the study of various factors affecting the
industry, including the government policy, market environment, competitive
landscape, historical data, present trends in the market, technological innovation,
upcoming technologies and the technical progress in related industry, and market
risks, opportunities, market barriers and challenges. The following illustrative figure
shows the market research methodology applied in this report.
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Top-down and bottom-up approaches are used to validate the global market size
market and estimate the market size for Company, regions segments, product
segments and Application (end users).