Global insurance market in 2020
According to the Sigma study published by Swiss Re, the total amount of premiums stands at 6 287 billion USD in 2020, against 6 284 billion USD a year earlier.
Only the markets of North America, Asia-Pacific and the Middle East are recording a slight increase in premiums with growth rates ranging between 2 and 1.3%. The premiums of the other regions, namely Europe, Africa and Latin America-Caribbean, are down by 3%, 10% and 16% respectively over one year.
Global insurance market: 2020 premiums per region
In millions USD| Regions | Turnover | 2019-2020 evolution | Market share | ||
|---|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | ||
North America | 2 674 038 | 2 620 164 | 2.06% | 42.53% | 41.69% |
Latin America-Caribbean | 131 855 | 157 037 | -16.04% | 2.10% | 2.50% |
Asia-Pacific | 1 754 520 | 1 719 625 | 2.03% | 27.91% | 27.36% |
Europe | 1 619 312 | 1 673 727 | -3.25% | 25.76% | 26.63% |
Africa | 60 190 | 67 282 | -10.54% | 0.96% | 1.07% |
Middle East | 47 131 | 46 525 | 1.30% | 0.75% | 0.74% |
World | 6 287 046 | 6 284 360 | 0.04% | 100% | 100% |
Read also | Top 10 insurers in 2020
