Global Insurance Premiums Rise by 1.5% in 2017
Wednesday, 07 11 2018, Category: Insurance and Reinsurance, Country: World
Global insurance premiums increased 1.5 percent in real terms to nearly US$5 trillion in 2017, after rising 2.2 percent in 2016, said the sigma study, titled “World insurance in 2017: Solid, but mature life markets weigh on growth.”
Global non-life premiums rose 2.8 percent in 2017 to approximately US$2.2 trillion, a further slowdown from the past two years, but slightly above the 10-year average of 2.1 percent.
Global life insurance premiums grew only marginally by 0.5 percent in 2017 to roughly US$2.7 tillion, said sigma, explaining that falling life premiums in advanced markets, such as the U.S. and Western Europe, were the main cause of the drag on overall global premium growth.
Source: Insurance Journal