The global life insurance providers market reached a value of nearly $2,860.4 billion in 2020, having increased at a compound annual growth rate (CAGR) of 1.8% since 2015. The life insurance providers market is expected to grow from $2,860.4 billion in 2020 to $3,550.8 billion in 2025 at a rate of 4.4%. The growth is mainly due to the growing awareness about investing in life insurance policies due to an increase in chronic illnesses. The market is expected to grow from $3,550.8 billion in 2025 to $4,266.6 billion in 2030 at a CAGR of 3.7%.
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The life insurance providers market consists of sales of life insurance products and related services by entities (organizations, sole traders and partnerships). These entities are involved in underwriting annuities and life insurance policies, disability income insurance policies and accidental death and dismemberment insurance policies. This includes both government and private owned Insurance providers that underwrite both linked policies which act as insurance as well as investment policies and non-linked polices or annuities against events such as death, permanent disability and temporary disability. Clients of these insurance providers are the general public who buy life insurance policies, the purchase can be made either through an intermediary or by direct selling.
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The life insurance providers market market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the life insurance providers market are Ping An Insurance (Group) Company of China, Ltd., China Life Insurance Company Limited, Assicurazioni Generali S.p.A., China Pacific Insurance (Group) Co., Ltd., Japan Post Insurance Co., Ltd.
The life insurance providers market is segmented by type, by application and by geography.
By Type –
The life insurance providers market is segmented by type into
- a) Whole Life Insurance
- b) Term Life Insurance
- c) Accidental Insurance
- d) Variable Insurance
- e) Annuities
- f) Other life insurance
By Application –
The life insurance providers market is segmented by application into
- a) Tied Agents and Branches
- b) Bancassurance
- c) Direct And Other Channels
- d) Brokers
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The life insurance providers market report describes and explains the global life insurance providers market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The life insurance providers market report evaluates the market across each region and for the major economies within each region.
The countries covered in the global life insurance providers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global life insurance providers market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Life Insurance Providers Market Market Characteristics
- Life Insurance Providers Market Market Product Analysis
- Life Insurance Providers Market Market Supply Chain
- Key Mergers And Acquisitions In The Life Insurance Providers Market Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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