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Swiss Re Institute has published its Sigma study 5/2024, entitled “Growth in the shadow of (geo)politics - Global economic and insurance market outlook 2025‒26”.
The report forecasts a 2.6% annual increase in global insurance premiums in 2025 and 2026. This growth would be driven by the life business, which is expected to record a 3% turnover progression over the next two years.
Rising real wages, persistently high interest rates in key markets, an ageing population and an expanding middle class in emerging markets are expected to bolster global demand for life insurance.
As far as the non-life segment is concerned, premium growth is expected to slow down in 2025 and 2026 to 2.3%. This is below the 3.1% average posted over the past five years.
Despite this downturn, Swiss Re Institute expects to see improvements in non-life insurers' investment income, underpinned by a persistently high-interest rate environment.
Read also | Global insurance market
