Global Juvenile Life Insurance Premiums Has Grown At A CAGR Of 15.37% From 21.2 Billion USD In 2013 To Reach 117.7 Billion USD By 2025
Friday, 15 Nov, 2019
Global economic growth slowed in 2017 as both advanced and emerging markets saw diminished growth. While both equity markets and interest rates progressed favorably toward the end of 2017, improvement can at best be gradual with the political landscape being in a flux.
The Juvenile Life Insurance industry achieved a strong underwriting performance in 2017, the global Juvenile Life Insurance premiums has grown at a CAGR of 15.37% from 21.2 billion USD in 2013 to reach 117.7 billion USD by 2025 in global market. The Juvenile Life Insurance market is very fragment market; the premiums of top ten players account about 47% of the total premiums in 2017.
Gross premiums increased in most countries in the Juvenile Life Insurance in 2017. This growth may be a sign or a consequence of more favorable economic conditions, leading individuals to purchase Juvenile Life Insurance products. In most countries, the relatively low penetration of Juvenile Life Insurance (especially in South America and some Asian countries) shows that the Juvenile Life Insurance sector still has significant room to expand. In some countries, gross premiums declined where the continued low interest rates may have deterred individuals from purchasing Life Insurance products with lower guarantees. The Europe and North America has relative growth rate due to the lower birth rate and some developed also have the similar phenomenon, China has higher growth rate due the higher birth rate and China’s Second Child Policy and China’s high growth rate in economic.
The leading players mainly are Allianz, Assicurazioni?Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo?Life Insurance, Aegon, Dai-ichi Mutual Life Insurance and CPIC. Allianz is the largest playersr; its premiums of global market exceed 8.65% in 2017. The next is Assicurazioni?Generali and China Life Insurance.