Life Insurance in North America
SummaryLife Insurance in North America industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The North American life insurance market had total gross written premiums of $708.8 billion in 2022, representing a compound annual growth rate (CAGR) of 2.7% between 2017 and 2022.
- The Pension/Annuity segment accounted for market's the largest proportion in 2022, with total gross written premiums of $483.6 billion, equivalent to 68.2% of the market's overall value.
- Despite contracting by negative growth of 5.8% in 2019, the North American life insurance market experienced healthy growth in the historic period 2018 to 2022. According to the BLS (Bureau of Labour Statistics), 57% of employees in private industry had access to life insurance in March 2022. The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.4% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $880.9billion by the end of 2027.
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the life insurance market in North America
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in North America
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the North America life insurance market with five year forecasts
Reasons To Buy
- What was the size of the North America life insurance market by value in 2022?
- What will be the size of the North America life insurance market in 2027?
- What factors are affecting the strength of competition in the North America life insurance market?
- How has the market performed over the last five years?
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