Global insurance market: record figures in 2018
Global insurance premiums reached 5 193 billion USD in 2018 compared to 4 957 billion USD in 2017, hence exceeding the 5 000 billion USD bar for the first time. The increase over the period was of 4.8% against 2.6% between 2017 and 2016. According to the Sigma study, this growth is linked to the development of the non-life market in the emerging countries, led by China.
The United States, the world's number one market, reported a 5% increase in premiums at 1 469.375 billion USD versus 1 399.222 billion USD in 2017.
China, which is the world's second market, well behind the United States, reported total premiums worth 574.877 billion USD, up by 6.2% in comparison with 2017. At this pace, the Asian giant could overtake the United States by 2030.
With 440.648 billion USD in premiums, Japan ranked third, a rise of 3.8% compared to 2017. These top three countries are followed, in descending order, by the United Kingdom (336.510 billion USD), France (257.963 billion USD) and Germany (241.485 billion USD).
In terms of premiums, South Africa is the first African market with 48.269 billion USD, while the United Arab Emirates dominates the Middle East with 12.461 billion USD.
Read also:
