Allianz Research has published its report entitled «Global Insurance Market: At a crossroads», a study which focuses on the state of the global insurance market in 2018 and outlines the outlook for the future.
According to this report, the global insurance premiums (excluding health) reached 4 180.56 billion EUR (4 781.68 billion USD) in 2018, an increase of 3.3% over one year and of 3% in a decade.
Life insurance reported 2 258 billion EUR (2 582.68 billion USD), representing a growth of 2.54% compared to the turnover achieved in 2017 (2 637.7 billion USD). Non-life insurance amounted to 1 396 billion EUR (1 596.73 million USD) at the end of 2018, increasing by 4.65% against 1 334 billion EUR (1 597.95 billion USD) achieved one year earlier.
The American insurance market is the first premium producer with 1 115 billion EUR (1 275.33 billion USD). The Chinese market is far behind with 417 billion EUR (476.96 million USD).
The American continent generates 32.86% of the global premium volume, that is 1 201 billion EUR (1 373.69 billion USD). Western Europe achieves 1 2 billion EUR (1 146.08 billion USD) and Asia 1 199 billion EUR (1 371.41 billion USD).
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