This website uses JavaScript

Unfortunately javascript doesn't seem to be enabled so your experience on the website will be degraded

(4.00) Insurance

The rating agency Fitch forecasts that run-off specialists will manage more than 50% of closed life businesses in Germany by 2022, up from 25% at present, as insurers find the cost of managing shrinking portfolios an increasing burden.
Germany and the UK are enhancing risk finance and insurance programs, and the private insurance industry will commit up to $5bn of risk capacity until 2025.
By 2023, UAE life insurance and pensions are expected to grow at the fastest rate of 18 per cent per year, while currency and deposits will grow at an annual rate of 5 per cent.
The UK announced up to £90 million of support for the Global Risk Financing Facility, which will help cut the costs of disaster risk insurance.
Asia Pacific is expected to experience the fastest growth in Usage based Insurance market during the forecast period to 2025.
The African Risk Capacity Insurance Limited has confirmed that it will pay out $738,835 to Côte d'Ivoire following the severe rainfall deficits experienced in its central region for the 2019 agricultural season.
About one-fifth of homes in Canada are at risk of overland flooding, while insurance payouts have surged to about $1 billion per year over the past six years.
The share of Americans without health insurance rose for the first time in a decade last year and U.S. household income hardly budged.
Reviving the private flood insurance market in the US could generate $41.6 billion in written premiums for insurers from owner-occupied homes.
The global cyber insurance market is forecast to grow at a compound annual growth rate of 20% and will rise from $3.4 billion in premiums in 2016 to stand at $17 billion by 2023.
Farmers this year could seek insurance coverage for between 5 million and 15 million acres that were to be planted with corn, according to grain-market analysts, likely surpassing a record 3.6 million acres of claims on corn acres in 2013.
In 2019 the insurance market can expect to see the market taking action on dual pricing by adopting the joint principles proposed by BIBA and the ABI.
In the US, the market is now anticipating the US Federal Reserve will ease monetary conditions by implementing an insurance rate cut this year, a reversal from just 6 months ago when the market was anticipating a continuation in the tightening cycle.
The cost of crop insurance to the US federal government could rise to $7.6 billion a year for corn and $3.3 billion for soybeans.
The insurance industry in India is expected to reach US$280 billion by 2020.
The global usage-based insurance market is expected to grow at noteworthy CAGR around 29% throughout the forecast period and reach around US$190 billion by 2026.
The cost of hospital insurance is increasing, and Canada's aging population will apply additional pressure to the health-care system over the next few years as the Baby Boom generation enters their senior years.
The coal industry will no longer be able to obtain investment or insurance from any Australian-based insurance providers, following confirmation by Brisbane-based Suncorp Group that from 2025 it will no longer do business with the coal industry,.
Usage-Based Insurance (UBI) Market is estimated the US $20Bn in 2017 and is expected to reach US$305Bn by 2026 at a CAGR of 40.58%.
Climate change will increase the number of homes in the UK that are unable to obtain affordable home insurance due to flood risk without the necessary adaptation steps in place.
China will remove shareholding limits on foreign ownership of securities, insurance and fund management firms in 2020, one year earlier than originally planned.
Industries with the fastest Compound Annual Growth Rate over the five-year forecast period (2017-2022) are insurance (17.1 percent), federal / central government (16.1 percent), and healthcare (15.4 percent).
In terms of revenue, the global automotive usage based insurance market is expected to grow to US$105.12 billion in 2027 from US$15.62 billion in 2018.

See full forecast

Last updated: 22 October 2019