Australia’s personal accident and health (PA&H) insurance industry is forecasted to grow at a compound annual growth rate (CAGR) of 6.4% from AUD32 billion ($22.1...
The competitive landscape of the motor insurance industry in India has undergone a constant change during 2018-22. While there was close competition between New India...
The 7.2 magnitude earthquake that struck Taiwan's east coast recently has brought significant challenges to the insurance industry. Despite causing substantial damage, particularly in Hualien...
The South African general insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.8% from ZAR159.5 billion ($9.4 billion) in...
The Indonesian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 3.8% over 2024–28, from IDR161.3 trillion ($10.5 billion)...
The Belgian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.1% from EUR14.3 billion ($14.7 billion) in 2024...
The Indonesian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 11.3% from IDR110.94 trillion ($7.3 billion) in 2024...
The Hong Kong general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.3% from HKD67.0 billion ($8.6 billion) in...
The New Zealand general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.3% from NZD9.8 billion ($5.8 billion) in...
The personal accident and health (PA&H) insurance industry in Hong Kong is forecasted to grow at a compound annual growth rate (CAGR) of 7.4% from...
Saudi Arabia’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.2% from SAR68.3 billion ($18.2 billion) in 2024...
The Japanese property insurers are likely to withstand losses and will not be negatively impacted by the 7.6 magnitude earthquake that struck the Noto Peninsula...
The Chinese property insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 12.1% over 2024–28, from CNY271 billion ($40.5 billion)...
The Vietnamese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.7% from VND 71.1 trillion ($3.0 billion) in...
The German general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.5% from EUR149.7 billion ($152.8 billion) in 2023...
Hong Kong’s life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 4.1% over 2024–28, from HKD459.9 billion ($58.7 billion)...
The Australian motor insurance industry is projected to grow at a compound annual growth rate (CAGR) of 9.9% from AUD24.1 billion ($16.7 billion) in 2024...
The Portuguese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.9% from EUR6.6 billion ($6.7 billion) in 2023...
The South Korean motor insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 4.6% from KRW20.5 trillion ($15.4 billion) in...
The Chinese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.4% from CNY1.6 trillion ($237.2 billion) in 2023...
The Australian life insurance industry is projected to grow at a compound annual growth rate (CAGR) of 5.9% from AUD33.6 billion ($23.3 billion) in 2023...
The Dutch general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 5.4% from EUR70.8 billion ($72.3 billion) in 2023...
The motor insurance industry in China is projected to grow at a compound annual growth rate (CAGR) of 4.5% from CNY871.2 billion ($129.1 billion) in...
The Chinese life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 9.0% over 2024–28, from CNY4.0 trillion ($597.1 billion)...
The Japanese life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 2.0% from JPY37.1 trillion ($289 billion) in 2024...
The Australian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.1% from AUD86.8 billion ($60.1 billion) in 2023...
Saudi Arabia’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.2% from SAR56.8 billion ($15.2 billion) in 2023...
The property insurance industry in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 11.3% from $92.3 billion...
The Singaporean general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.8% from SGD5.54 billion ($4.02 billion) in 2023...
The liability insurance industry in the Asia-Pacific (APAC) region is projected to grow from $39.4bn in 2023 to $61.7bn in 2027, in terms of written...
Brazil’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.3% from BRL242.6 billion ($46.97 billion) in 2022 to...
The Japanese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 3.4% from JPY11.9 trillion ($89.8 billion) in 2023...
The South Korean life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.6% over 2023–27, from KRW205.3 trillion ($154.2...
In an era of evolving challenges, pension providers and wealth managers need to navigate a crucial path by upholding environmental, social, and governance (ESG) principles....
Indonesia’s property insurance industry will grow at a compound annual growth rate (CAGR) of 8.7% from IDR26.6 trillion ($1.7 billion) in 2023 to IDR37.1 trillion...
The Taiwanese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.4% from TWD248.1 billion ($8.4 billion) in 2023...
The US general insurance industry is set to grow at a compound annual growth rate (CAGR) of 8.5% from $2.18 trillion in 2023 to $3.03...
Frequent natural catastrophic (nat-cat) events, such as the heavy rainfall in July 2023 in Northern India and the cyclone Biparjoy that hit Gujarat and parts...
After witnessing a continuous decline since 2019, Taiwan's life insurance market is set to make a turnaround from 2024, driven by an improvement in the...
The Malaysian motor insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 8.6% over 2023–27, from MYR9.7 billion ($2.2 billion)...
Industry experts believe insurers sticking to targets around both underwriting carbon-emitting projects and investing in polluting companies, industries, and funds is the most important thing...
The Mexican general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.7% from MXN402 billion ($20 billion) in 2022...
The Philippines’ general insurance industry is set to grow at a compound annual growth rate (CAGR) of 11.6% from PHP136.4 billion ($2.4 billion) in 2023...
Consumers in the UK are more likely to increase their pension contributions than reduce them, due to improving savings rates as a result of continued...
The Thailand general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.7% from THB285.5 billion ($8.1 billion) in 2023...
Indonesia’s proposal to substantially increase the minimum capital requirement (MCR) for insurance and reinsurance companies is expected to result in increased merger and acquisition (M&A)...
Major UK companies have been victims of a cyberattack recently, which emphasizes the importance of cyber insurance but also heightens complications around coverage for state-led...
The United Arab Emirates (UAE) general insurance market is forecast to register double-digit growth of 13.2% in 2023, supported by regulatory developments and rising insurance...
Bangladesh’s general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 8.8%, from BDT64 billion ($620.8 million) in 2023 to...
Compare the Market does not always produce the lowest quotes for motor insurance across the top four price comparison websites (PCWs) in the UK. Despite...
The Singapore property insurers are expected to remain profitable in 2023 due to disciplined underwriting, adequate reinsurance coverage, and growing premiums from compulsory fire insurance,...
The global cyber insurance market registered significant growth in 2020 and 2021 largely due to substantially raised premiums. The increased frequency and severity of cyberattacks,...
The Malaysian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.2% from MYR57.5 billion ($13.1 billion) in 2023...
The UK motor insurance market has witnessed a significant rise in premiums, with a 20% increase year on year till April 2023, according to a...
Peru’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.4% from PEN9.1 billion ($2.3 billion) in 2022 to...
Following the news that Sky has launched a home insurance product that uses smart home devices into the UK market; Benjamin Hatton, Insurance Analyst at GlobalData,...
The general insurance industry in India is forecast to grow by 11.4% in 2023 in terms of gross written premiums (GWP), supported by strong economic...
The property insurance business is expected to remain a loss-making line for French insurers over the next five years, with a loss ratio (ratio of...
Malaysia’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 8.3%, from MYR19.4 billion ($4.4 billion) in 2022 to...
India’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 12.5% from INR9.0 trillion ($128.0 billion) in 2023 to...
Singapore’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.8% from SGD62.9 billion ($47.2 billion) in 2022 to...
Brokers in the UK cannot name insurance leaders within the highly topical environmental, social, and governance (ESG) theme, which suggests that it is not yet...
The Indonesian general insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 9.0% from IDR77.2 trillion ($5.3 billion) in 2023...
The Spanish insurance industry is expected to grow at a compound annual growth rate (CAGR) of 5.3% from EUR64.1 billion ($76.6 billion) in 2022 to...
The South Korean insurance industry is set to witness digital disruption as the implementation of the regulatory authority’s proposal to deregulate digital innovations will increase...
Consumer interest in moving towards alternative providers in home insurance has declined in the UK in 2022, which is likely a result of trust eroding...
The combined market share of state-owned general insurers in India continues to witness a declining trend, falling from 51.3% in 2017 to 40.8% in 2021*...
Following the news that insurers including Aviva and Liberty Mutual are all being pursued over failing to settle COVID-19-related business interruption (BI) claims; Benjamin Hatton, Associate...
Cyclone Gabrielle, which caused extensive damage to property, businesses, and infrastructure, is the most significant weather event to hit New Zealand in this century so...
Japanese personal accident and health (PA&H) insurers have started offering insurance policies covering seasonal illnesses. Given a persistent decline in premiums due to challenging economic...
Following the news that the series of earthquakes which struck Türkiye on 6 February was among the strongest in the last 100 years and have...
Following the record-high inflation rates that were witnessed in the UK in recent months; Ben Carey-Evans, Senior Insurance Analyst at GlobalData, offers his view: “Record-high inflation in...
With the Asia-Pacific (APAC) region’s exposure to extreme weather events leading to unsustainable natural hazard losses and high inflation worsening them, reinsurers in the region...
Following the news of UK life insurer, DeadHappy, has run into anger over its recent advertising campaign featuring an image of Harold Shipman accompanied by...
Medibank regained its position as the leading Australian health insurer in 2022, ending the six-year dominance of Bupa, says GlobalData, a leading data and analytics...
More than half of UK employees did not believe they would return to in-office work full time in 2022, according to a survey by GlobalData....
The NHS is in crisis due to a backlog from the pandemic, underfunding, staff shortages, and strikes throughout the end of 2022 and the start...
Following the news that heavy rain could swamp some homes and businesses, as winds up to 60mph are expected to hit parts of the UK; Md....
The life insurance industry in Vietnam is set to grow at a compound annual growth rate (CAGR) of 20.8% from VND159.2 trillion ($6.9 billion) in...
On Tuesday 7 February 2023 at 3:00PM GMT, the Insurance team at GlobalData will host a webinar on how high inflation and the wider cost...
Saudi Arabia’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 6.2%, from SAR40.3 billion ($10.7 billion) in 2021...
The Hong Kong life insurance industry is set to return to growth in 2023, after declining by 0.3% and 4.6% in 2021 and 2022, respectively,...
As we enter 2023, record-high inflation and the consequent cost-of-living crisis will be the greatest challenge faced by the insurance industry according to industry experts,...
In terms of gross written premiums (GWP), Portugal’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.9% from...
Chubb received approval from the China Banking and Insurance Regulatory Commission (CBIRC) on 18 November 2022, to increase its stake in Huatai Insurance Group from...
The top insurance companies in Singapore are set to witness a revenue growth over coming years, as digital distribution and increased customization enable them to...
On Wednesday, 14 December at 3:00pm GMT, the Insurance team at GlobalData will host a webinar on their 2023 predictions for the insurance industry. Click here to...
The launch of Bima Sugam, an online marketplace for all insurance services, and the rollout of 5G services are expected to help insurance reach to...
Progressive Corporation has overtaken State Farm to become the largest motor insurer in the US. The company’s growth was largely driven by its expanding for-hire...
Cyberattacks instigated by Russia could be set to cause more disputes between businesses and insurers following the Zurich-Mondelez case, found GlobalData. According to the leading...
A recent survey by GlobalData* has highlighted the importance of sustainability to insurance customers. The leading data and analytics company found that 41.4% of consumers...
The general insurance industry in Singapore is set to grow at a compound annual growth rate (CAGR) of 7.2% from SGD4.7 billion ($3.5 billion) in...
US-based Warburg Pincus plans to set up a digital general insurance company Oona Insurance (Oona) with an initial investment of $350 million, as part of...
More than 11% of the travel insurance customers canceled their policy over the past 12 months as a cost-saving measure amid the UK’s cost-of-living crisis....
The solvency capital requirements for UK insurers may be relaxed in the near future following the September 2022 mini-budget, but GlobalData findings show that leading...
The Chinese life insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.3% from CNY3.1 trillion ($484.4 billion) in 2021...
The Chinese general insurance market is set to grow at a compound annual growth rate (CAGR) of 7.2% from CNY1,367.7 billion ($212.1 billion) in 2021...
Nearly 80% of small and medium sized enterprises (SME) in the UK are extremely concerned about the ongoing cost-of-living crisis, which is likely to heavily...
Following the news that technology giant Amazon is entering the price comparison market within household insurance in the UK; Ben Carey-Evans, Senior Insurance Analyst at GlobalData,...
In terms of gross written premiums (GWP), the Netherlands’ general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 3.8%, from €64.4...
The Singaporean life insurance industry is estimated to grow by 13.3% in 2022, in terms of gross written premiums (GWP), despite the prevailing global economic...
The Taiwanese life insurance industry will grow at a compound annual growth rate (CAGR) of 3.3% from TWD2.9 trillion ($106 billion) in 2021 to TWD3.5...
With the risk of high-profile cyberattacks continuing, GlobalData figures show that small and medium sized enterprises (SMEs) in the UK are aware of the higher...
An insurer’s record on sustainability is important to small and medium sized enterprises (SMEs) in the UK but it is still the least important factor...
Following the news that leading US insurtech, Lemonade, has entered the UK home insurance market; Benjamin Hatton, Associate Insurance Analyst at GlobalData, a leading data and...
Following the news that Hurricane Ian, a devastating category four storm, has swept through Florida overnight; Benjamin Hatton, Associate Insurance Analyst at GlobalData, a leading data...
The South Korean reinsurance industry will grow at a compound annual growth rate (CAGR) of 7.0% from KRW9.6 trillion ($8.4 billion) in 2021 to KRW13.4...
The road ahead looks difficult for Japanese life insurers because of the country’s aging demographic and economic factors. Due to sluggish sales of term life...
The economic impact of global sanctions placed on Russia following the country’s invasion of Ukraine, will decelerate the growth of the country’s life insurance industry...
The Malaysian insurance industry will grow at a compound annual growth rate (CAGR) of 8.4% from MYR 73.1 billion ($17.6 billion) in 2021 to MYR...
The general insurance market in Japan will grow at a compound annual growth rate (CAGR) of 3.0% from JPY11,155.4 billion ($101.6 billion) in 2021 to...
Rising inflation in Europe, which jumped to 8.9% in July 2022, the highest in the last 25 years, will hurt the profitability of general insurers...
With several leading insurtech start-ups providers going bust or cutting staff, the COVID-19 pandemic and cost-of-living crisis are having a massive impact on the global...
Scorching weather coupled with a lack of rain will create the perfect conditions for wildfires in the UK, and insurers should brace themselves for a...
More than 20% of global executives are of the opinion that blockchain technology is all hype, as doubts about its industrial applicability increase due to...
Analysis of GlobalData’s 2021 UK Insurance Consumer Survey revealed that four price comparison websites—Compare the Market, GoCompare, MoneySuperMarket and Confused.com—dominate the UK’s motor insurance market,...
The marine, aviation and transit (MAT) insurance industry in Asia-Pacific will grow from an estimated $11.9 billion in 2021 to $16.2 billion in 2026, in...
Repeated climate change-induced natural catastrophic (Nat-Cat) events have resulted in an increase in claims paid by Australian property insurers and consequently pushed their loss ratio...
The Thailand insurance industry is expected to grow at a compound annual growth rate (CAGR) of 4.7% from THB890.4 billion ($27.8 billion) in 2021 to...
The life insurance industry in India is set to grow at a compound annual growth rate (CAGR) of 10.3% from INR7.0 trillion ($92.3 billion) in...
The personal accident and health (PA&H) insurance industry written premium sales in North America are projected to grow from $1.2 trillion in 2021 to $1.5...
The general insurance market in Taiwan is set to grow at a compound annual growth rate (CAGR) of 5.4% from TWD220.2 billion ($25.5 billion) in...
The performance of the top 20 global public insurance companies by revenue witnessed a revival in 2021, as COVID-19 restrictions were eased and global economic...
Mexico’s general insurance industry is expected, by GlobalData, to grow* at a compound annual growth rate (CAGR) of 7.5%, from $18.2 billion in 2021 to...
India’s insurance policy change from ‘File and Use’ to ‘Use and File’ will both improve choice for customers and help insurers get new products...
GlobalData expects that many SMEs* will leave themselves exposed to cyber risk in 2022 due to high cyber insurance premiums and the cost-of-living crisis pinching...
Following the news that an independent review has suggested that the UK’s legal smoking age should rise by a year every year; Benjamin Hatton, Associate Analyst...
Following the news that more than 3,300 workers across 70 companies in the UK are trialling a four-day working week for six months; Beatriz Benito, Lead...
Asia-Pacific’s life insurance industry recorded 7% growth in 2021, the highest since 2016, due to increased insurance awareness as macroeconomic imbalances highlighted the importance of...
Following the news that loyal motor insurance customers face premiums that are double that of new customers, despite FCA reforms; Ben Carey-Evans, Senior Insurance Analyst at...
The UK motor insurance industry is projected to grow at a compound annual growth rate (CAGR) of 2.3% from GBP18.4 billion ($25.5 billion) in 2021...
The general insurance industry in India, which grew by 5% in 2021, its slowest growth during the last decade, is projected to grow at a...
Home insurance premium in Australia grew by 5.9% in 2021 which is the highest in the last seven years. Driven by rising insurance costs due...
While interest in cyber insurance is certainly increasing—especially amid heightened risk due to the Russia-Ukraine conflict and working from home—the price is likely to still...
Bancassurance is the leading distribution channel in the Spanish insurance industry and is expected to account for 39.5% of the gross written premiums (GWP) in...
The personal accident and health (PA&H) insurance industry in Asia-Pacific (APAC) is projected to grow from $203.0bn in 2020 to $421.9bn in 2026, in terms...
The accelerated rise of digitalization since the pandemic and increased use of smart home devices means that technology companies and outside players pose a threat...
The general insurance industry in Malaysia is projected to grow at a compound annual growth rate (CAGR) of 4.8% from MYR17.67bn ($4.26bn) in 2021 to...
While young UK drivers have expressed various concerns around the ‘Black Box’, this has not stopped demand rising, according to GlobalData. A survey by the...
South Korea’s life insurance industry is projected to grow at a compound annual growth rate (CAGR) of 2.8% from KRW116.6 trillion ($100.4bn) in 2021 to...
Germany’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 6.8%, from $165.4 billion in 2021 to $229.6 billion...
Life Insurance Corporation of India (LIC), which has recently received the approval of the Securities and Exchange Board of India (Sebi) for its initial public...
Hong Kong life insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.6% from HKD543.5bn ($70.0bn) in 2021 to HKD748.6bn...
Russia’s general insurance industry is expected to decline by 14% in 2022 due to the Russia-Ukraine crisis, according to GlobalData’s Global Insurance Database, a leading...
The general insurance industry in Vietnam is projected to grow at a compound annual growth rate (CAGR) of 8.5% from VND60.15 trillion ($2.6bn) in 2021...
Ingosstrakh, the fourth largest general insurer in Russia could be facing significant financial challenges following Russia’s invasion of Ukraine. In 2020, the insurer earned *36.3%...
Generation Rent (a generation of young adults who are forced to continue renting due to being unable to afford a house) is only increasing in...
Hong Kong general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.6% from HKD57.2bn ($7.4bn) in 2021 to HKD78.6bn...
Insurers must brace for rising claims as storms Eunice and Franklin battered the UK in February, serving as a reminder of the consequences of climate...
The difference between the lowest average and the highest average (of the 10 cheapest) quotes provided by the four leading price comparison websites (PCWs) has...
The general insurance industry in Taiwan is projected to grow at a compound annual growth rate (CAGR) of 6.7% from TWD200.1bn ($6.8bn) in 2020 to...
The Indonesian general insurance market is expected to grow at a compound annual growth rate (CAGR) of 7.7% from IDR66.8 trillion (US$4.6bn) in 2020 to...
The vast majority of UK consumers believe they will continue to work from home for at least two days a week post-COVID-19, which will have...
Hungary’s insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.3% from HUF1,204.86 billion ($3.91 billion) in 2020 to HUF1,635.5...
The general insurance industry in Australia is projected to grow at a compound annual growth rate (CAGR) of 6.4% from AUD73.29bn ($54.6bn) in 2021 to...
The life insurance industry in Indonesia is projected to grow at a compound annual growth rate (CAGR) of 8.9% from IDR173.0 trillion ($11.8bn) in 2020...
Following the news that the UK Law Commissions has released its final report on the regulatory framework for autonomous vehicles; Benjamin Hatton, Insurance analyst at GlobalData,...
The vast majority of UK consumers who switch motor insurance policies do so for a cheaper price, with 77.8% of motor insurance customers switching at...
South Korean insurance industry is projected to grow at a compound annual growth rate (CAGR) of 3.5% from KRW220.5 trillion ($186.8bn) in 2020 to KRW262.5...
The COVID-19 pandemic has led to pet ownership soaring in the UK, yet growth of the pet insurance market is lagging behind this trend with...
According to findings from GlobalData’s 2020–21 UK Insurance Consumer Surveys, 52% of UK consumers in 2021, compared to 37.4% in 2020, stated that their decision...
Turkey’s economy is expected to grow by 8.5% in 2021, as compared to 1.8% growth in 2020 driven by substantial credit expansion and a surge...
In a highly concentrated Japanese general insurance market, insurers are changing their focus towards property and specialty lines due to decline in motor insurance premiums,...
The life insurance industry in Taiwan is projected to grow at a compound annual growth rate (CAGR) of 0.4% from TWD3.16 trillion ($107.0bn) in 2020...
The motor insurance industry in Asia-Pacific (APAC) is projected to grow from $226.0bn in 2020 to $294.2bn in 2025, in terms of written premiums, according...
The Dutch economy saw 4% growth in 2021 as the country began to recover from COVID-19. Hot on its heels is the country’s general insurance...
After registering underwriting profits of S$104.5m in 2020, the profitability of Singapore motor insurers is expected to decline in 2021 due to a rise in...
The property insurance industry in Asia-Pacific (APAC) is projected to grow from $85.8bn in 2020 to $137.5bn in 2025, in terms of written premiums, according...
Revival in automobile sales, favorable regulatory initiatives, and significant investment by insurers to develop new digital insurance products will support the growth of the general...
Environmental, social and governance (ESG) practices have become more than a buzzword, with businesses across all market sectors including the insurance sector, making efforts to...
424 insurers currently partnering with rights holders, with active contracts worth $5.17 billion over their duration. Majority of insurance firm spend targets the soccer...
Russia’s general insurance industry is expected to gain momentum over the coming years after seeing slow growth over the pandemic period, according to GlobalData. The...
The general insurance industry in Singapore is expected to grow at a compound annual growth rate (CAGR) of 5.0% from SGDb4.4bn ($3.2bn) in 2020 to...
The general insurance industry in China is projected to grow from CNY1.36 trillion (US$196.8bn) in 2020 to CNY2.13 trillion (US$313.0bn) in 2025, in terms of...
The Chilean general insurance industry is projected to grow from CLP3.2 trillion (US$4 billion) in 2020 to CLP4.6 trillion (US$5.8 billion) in 2025, in terms...
Malaysian general insurers’ growth is expected to slow down in 2021 due to decline in vehicle sales accompanied by halt in production driven by global...
Portugal’s general insurance industry is projected to grow from €5.28bn (US$6.03bn) in 2020 to €6.68bn (US$8.35bn) in 2025 in terms of gross written premiums (GWP),...
An insurer’s record on sustainability is important to small and medium sized enterprises (SMEs), but it is the least important factor when it comes to...
Almost one quarter of small-to-medium enterprises (SMEs) in the UK have purchased cyber insurance due to increased remote working as a result of COVID-19, according...
Singapore life insurance industry is highly concentrated with the top 10 insurers accounting for 95% market share in 2020. Boost in demand for life insurance...
An insurer’s record in sustainability is the least important factor to UK-based small-to-medium enterprises (SMEs) when it comes to choosing insurers, according to a recent...
An accelerated pace of digitalization in the financial sector across the Asia-Pacific (APAC) region due to the COVID-19 pandemic is expected to support the growth...
More than one third of UK small-to-medium enterprises (SMEs) have, to some extent, increased their support for mental and physical wellbeing since the start of...
The life insurance industry in China is projected to grow from CNY3.2 trillion (US$459 bn) in 2020 to CNY4.5 trillion (US$665.7bn) in 2025, in terms...
The life insurance industry in Japan is projected to grow from JPY28.7 trillion (US$269.2bn) in 2020 to JPY30.7 trillion (US$323.6bn) in 2025, in terms of...
Motor insurance was the largest segment in the South Korean general insurance industry, accounting for 35.5% share in terms of gross written premiums (GWP) in...
The life insurance industry in Vietnam is projected to grow at a compound annual growth rate (CAGR) of 23.7% over 2020-2025, according to GlobalData, a...
Findings from GlobalData’s 2021 UK Life & Pensions Survey reveal that women will have considerably smaller pension pots than men when they reach state pension...
According to the 2021 UK Life & Pensions Survey by GlobalData, 17.3% of furloughed workers in the UK have increased their pension contributions since the...
Saudi Arabia’s general insurance industry is projected to grow from SAR37.5bn (US$10bn) in 2020 to SAR46.4bn (US$12.3bn) in 2025 in terms of gross written premiums,...
The general insurance industry in Japan is projected to grow from JPY11.1 trillion (US$104.1bn) in 2020 to JPY12.6 trillion (US$133.1bn) in 2025, in terms of...
The life insurance industry in Indonesia is forecasted to recover in 2021, driven by increased consumer confidence, according to GlobalData, a leading data and analytics...
TAL Dai-ichi Life Australia, a wholly owned subsidiary of Japan-based Dai-ichi Life Holdings, has recently signed a binding share sale agreement to acquire Westpac Banking...
The regularity of severe weather and fire events across the US last year led to the US natural hazard & fire insurance market paying out...
Aviva has sold smart home technology provider to Sky, after a successful partnership which modernized the insurer’s home insurance offering and saw it hold the...
The direct written premiums (DWP) for the top 10 insurers in the South Korean life insurance industry grew by 4.1% in 2020 after declining at...
The home insurance market among younger generations is ripe for disruption and insurtechs that can offer cheap, flexible and digital policies are most likely to...
The marine, aviation and transit (MAT) insurance industry in Asia-Pacific is projected to grow from US$11.2bn in 2019 to US$14.5bn in 2025, in terms of...
Over the past year life insurers have had to rethink their strategies, being pushed to adopt greater levels of digital services and underwriting flexibility –...
The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020 and will reach $20.6bn by 2025, as the market will...
A recent poll by GlobalData has revealed that the reputation of the insurance industry globally has taken a hit due to its response to the...
The life insurance industry in India is projected to grow from INR5.7 trillion (US$81.4bn) in 2019 to INR8.0 trillion (US$98.5bn) in 2024, in terms of...
The top 20 global public insurance companies reported aggregate revenue of $1,923.9bn, a year-over-year (y-o-y) decline of around 5%, in their top-line performance in 2020....
The general insurance industry in Thailand, in terms of gross written premiums, is projected to grow from THB261.4bn (US$8.4bn) in 2020 to THB318bn (US$10.6bn) in...
The China Banking and Insurance Regulatory Commission (CBIRC) has recently proposed revisions to the reinsurance regulatory regime. Against this backdrop, China’s reinsurance market is expected...
Following the news that the Justice Department in the US has filed an antitrust lawsuit that blocks insurance broker Aon’s proposed $35bn acquisition of Willis...
The general insurance industry in New Zealand, in terms of gross written premiums, is projected to grow from NZ$6.9bn (US$4.6 bn) in 2020 to NZ$8.4bn...
Two insurtech giants, Hippo and Metromile, have launched combined auto-home insurance in the US, which will provide consumers with more convenience and value. The product...
Investment in insurtech grew strongly between 2018-2019 and looked set to continue thriving until the pandemic hit in 2020. However, as of mid-2021, insurtech outliers...
Aon’s specialized cargo insurance protection product integrated with Internet of Things (IoT) capabilities in order to provide supply chain protection for the global transportation of...
The latest partnership between Comparethemarket.com and insurtech Getsafe could create a shift in the UK’s personal insurance market. Insurtechs have developed tailored policies for individuals...
Covea’s partnership with pay-per-mile motor insurer By Miles looks to suit both parties and consumers’ needs in the post-lockdown world. The product will offer pay-per...
Increasing frequency of natural catastrophic events has created demand for reinsurance in the Asia-Pacific (APAC) region as domestic insurers seek financial resources to cover such...
The life insurance industry in Japan is forecasted to recover from 2021 onwards and increase at a compound annual growth rate (CAGR) of 1.8% during...
The general insurance industry in India is projected to grow from INR1.9 trillion (US$27.7bn) in 2019 to INR2.9 trillion (US$36.4 bn) in 2024, in terms...
Brexit-induced controls at the UK/EU border creates an opportunity for goods in transit (GIT) insurers to adapt their products as the nature of risks change,...
The COVID-19 pandemic has opened up a wealth of opportunities for insurers and employee benefit providers to deliver mental health packages as prolonged lockdowns and...
Lemonade’s digital and value-first approach is well-suited to the post-pandemic world and provides an opportunity for the insurer to capitalize on the motor industry, says...
The COVID-19 pandemic hit investor confidence and halted business, which led to investments into big data declining, but it is a temporary decline and the...
The changing customer landscape due to the COVID-19 pandemic has necessitated innovation within the insurance industry. Not only are incumbent firms at threat from insurtechs...
The life insurance industry in Thailand is projected to grow from THB602.4bn (US$19.2bn) in 2020 to THB686.9bn (US$22.8bn) in 2025, in terms of gross written...
National insurance brokers in the UK are once again looking towards upselling, acquisition and marketing to grow their business and recover from an extremely challenging...
The life insurance industry in Malaysia is projected to grow from MYR50.70bn (US$11.98bn) in 2020 to MYR65.86bn (US$15.68bn) in 2025, in terms of gross written...
Abacai Holdings, a new insurtech, has the potential to surge ahead of competitors by prioritising the role of artificial intelligence (AI) in insurance. According to...
The Insurance Regulatory and Development Authority of India (IRDAI) has mandated all general and health insurers in the country to offer standard personal accident insurance...
The initial stamp duty holiday led to a boom in UK housing market activity, and the extension announced in Budget 2021 looks set to continue...
The Financial Services Commission (FSC) of South Korea plans to allow third-party digital platforms to sell non-life and micro-insurance as part of the country’s financial...
The life insurance industry in Australia is projected to decline at a compound annual growth rate (CAGR) of 0.9% from AUD34.8bn (US$23.6bn) in 2020 to...
The general insurance industry in Taiwan is projected to grow from TWD188.6bn (US$6.1bn) in 2019 to TWD232.7bn (US$8.3bn) in 2024, in terms of gross written...
The COVID-19 pandemic has forced insurers to digitalize and this is particularly complicated in life insurance, which has led to the banking channel, in particular,...
Allianz’s partnership with Blink, an insurtech start-up that offers quick and automatic pay-outs and re-bookings through its digital app, will allow the insurer to modernize...
China is set to become the largest global insurance market, attracting foreign insurers to invest in the country. However, despite opening up its economy, domestic...
COVID-19 will be by far and away the most important theme in insurance throughout 2021, but sustainability will continue to be an essential long-term theme,...
The general insurance market in Indonesia, in terms of gross written premium, is projected to grow from IDR63.87 trillion (US$4.50bn) in 2020 to IDR77.53 trillion...
The general insurance industry in Australia is projected to grow from AUD76.3bn (US$51.8bn) in 2020 to AUD98.0bn (US$66.9bn) in 2025, in terms of gross written...
The UK supreme court has adjudged that the insurers will have to pay small firms for their COVID-19 losses, which will hit the profits in...
The proposed increase in foreign direct investment (FDI) limit in the insurance sector in India from 49% to 74% is expected to accelerate growth, according...
Ever since the UK voted to leave the European Union in 2016, there has been public recognition that border delays and implications related to border...
The life and health insurance markets will see the most positive impact from the COVID-19 pandemic, according to a GlobalData poll. The pandemic has caused major disruption to a myriad of businesses, resulting in some insurance lines seeing huge declines in business, but some products may also...
The liability insurance industry in the Asia-Pacific region is projected to grow from US$28.8bn in 2019 to US$33.4bn in 2023, in terms of written premiums,...
The general insurance gross written premium in Thailand is projected to grow from THB253.6bn (US$8bn) in 2019 to THB285.6bn (US$9.4bn) in 2024, according to GlobalData,...
The life insurance direct written premium in Taiwan is projected to grow from TW$3.0 trillion in 2019 to TW$3.6 trillion in 2024, according to GlobalData,...
Singapore’s general insurance market is forecast to contract by 1.9% in 2020, compared to the 6.7% growth registered in 2019, according to GlobalData, a leading...
The life insurance written premium in the Asia-Pacific region is projected to grow from US$1.2 trillion in 2019 to US$1.5 trillion in 2023, according to...
The Insurance Regulatory and Development Authority of India’s (IRDAI) plan to standardize cyberinsurance product is expected to give impetus to its growth in the country,...
Small and medium-sized enterprises (SMEs) in the UK have been cancelling insurance policies because of the COVID-19 pandemic, and the motor lines have been the worst affected, but this may provide opportunities in 2021, according...
The COVID-19 pandemic has caused a rise in cancellations and switching employers’ liability products and more disruption is set to occur in 2021 as economic impact hits, according to GlobalData, a leading data and analytics company. GlobalData’s...
Personal accident and health (PA&H) insurance written premium in the Asia-Pacific region is forecasted to grow from US$157.6bn in 2019 to US$240.1bn in 2023, according...
One in five individuals are interested in purchasing a cyber insurance policy, according to GlobalData’s 2020 UK Insurance Consumer Survey, as interest from the commercial...
Nearly 30% of medium-sized small to medium enterprises (SMEs) in the UK are either very or extremely concerned about being overdependent on one client, according...
A rare positive for insurers from the COVID-19 pandemic is that small and medium-sized enterprises (SMEs) in the UK believe their communication with regards to COVID-19 has been strong,...
The life insurance gross written premiums in Singapore are projected to grow from S$38.7bn in 2019 to S$43.5bn in 2024, according to GlobalData, a leading...
The general insurance industry in Vietnam is forecasted to grow at 3.4% in 2020, compared to the 13.6% growth registered in 2019, according to GlobalData,...
The total property insurance written premium in the Asia-Pacific region is projected to grow from US$71.5bn in 2019 to US$85.6bn in 2023, according to GlobalData,...
The Malaysian general insurance industry is expected to contract by 2.2% in 2020, primarily due to weak consumer demand and suspension of economic activity due...
The proposal to amend the regulations around the investments in infrastructure investment trusts (InvITs) is expected to open an alternate source of investments for Indian...
Over half of SMEs in the UK are very or extremely concerned about losing business due to COVID-19, according to a survey by GlobalData, a...
The motor insurance market in the Asia-Pacific region is projected to grow from US$227.1bn in 2019 to US$257.8bn in 2023, in terms of written premiums,...
COVID-19 lockdowns and an increase in working from home worldwide has limited the need to own private vehicles, which will cause more consumers to consider...
Ping An is one of few insurers, in particular one of few established insurance companies, that has provided a strong proactive response to the pandemic for...
Just over 60% of SME employers in the UK are concerned about staff contracting COVID-19, according to a survey by GlobalData, a leading data and...
Price comparison websites (PCWs) will become even more popular in insurance as consumers look for savings wherever possible as the UK economy officially enters recession,...
Insurers looking to target businesses with cyber insurance following a rise in attempted attacks during lockdown should focus on larger small and medium-sized enterprises (SMEs),...
Despite a series of high-profile cyber security cases in recent years, the uptake of cyber insurance among small-medium enterprises (SME) remains low at just 12.7%,...
Over one third (38.4%) of small and medium-sized enterprises (SMEs) in the UK are interested in purchasing insurance that protects them from the losses incurred...
The China’s general insurance industry is forecast to grow by 3.8% in 2020, compared to 5.7% registered in 2019, according to GlobalData, a leading data...
More than two thirds of small and mid-size enterprises (SMEs) in the UK expect that remote-working levels will be higher than before the COVID-19 period,...
Insurers around the world have endured an extremely tough 2020 due to the significant fallout from COVID-19, and they appear to face another unwelcome threat...
General insurance business in India is expected to contract by 9% in 2020 due to COVID-19, a sharp decline from the 10% growth witnessed in...
The spread of COVID-19 forced many providers in the travel insurance market to pause the sale of new policies and adapt their wording in order...
The top 10 Japanese insurers have a strong dependence on the individual life insurance business, which will make them vulnerable to the rising claims and...
Among Italy’s’ top ten insurers, eight are heavily reliant on the life insurance domain and could witness a spike in the claims segment. Due to...
Bupa’s high business concentration in Europe and the health insurance market makes it vulnerable to a spike in its claims business, says GlobalData, a leading...
An increasing number of insurers, including big names such as Blue Insurance, Allianz, Caster, and Staysure, are reincorporating COVID-19-related repatriation and medical expenses as well...
Prolonged working from home can have an increasing strain on an employee’s mental health, as the loneliness of working remotely can lead to depression. Insurers...
The global e-commerce market is expected to exceed US$7 trillion in 2024 from under US$1 trillion in 2010. This sharp growth is due to consumers...
The ongoing consolidation in the insurance industry is likely to accelerate due to COVID-19 as the insurers continue to struggle. With lower profit margins and...
A handful of travel insurers have started to offer COVID-19 PCR tests as an add-on to their policies as consumers begin to travel again. This...
Just Eat’s decision to classify staff as full-time employees will see a reduction in the gig economy space in the UK. While insurtechs that have...
The Australian motor insurance market is forecast to contract by 4.4% in 2020 due to COVID-19, a sharp decline from 3.6% growth in 2019, according...
Insurers in the UK have temporarily withdrawn unemployment cover despite COVID-19 sparking high demand for income protection products as fears of job losses have mounted....
Open banking has been transforming the financial sector, allowing for platforms to deliver customized digital products and the COVID-19 pandemic is set to accelerate this....
Allianz’s dependency on Europe and risky products, as well as life insurance, impacts the company’s short-term growth prospects. Europe accounted for 75% of Allianz’s total...
COVID-19 has forced many people to work from home. In many ways, this has reduced some risks - for example fewer people will be a...
The US accounted for over three quarters of American International Group’s (AIG) business in 2018. This exposes it to increased claims due to the high...
Many insurers in the UK have temporarily withdrawn income protection products providing unemployment cover. Leading data and analytics company GlobalData expects gross written premium (GWP)...
Australia’s GDP is expected to fall by 3.75% in 2020 and consumer spending has been hit by rising unemployment. As a result, the life insurance...
Lloyds’s Lab insurtech cohort both continuing and actively focusing on pandemic solutions is undoubtedly a positive for the insurance industry. Lloyds Lab is one of...
Japan’s general insurance industry is expected to contract by 0.9% in 2020, compared to the 1.7% growth registered in 2019, according to GlobalData, a leading...
Contactless payments and online spending will continue strong growth post-COVID-19, as Sweden leads the global race to become a cashless society. Cash accounted for just...
GlobalData’s updated post-COVID-19 forecasts predict negative growth in total GWP for life insurance and general insurance in 2020. It forecasts a decline of 1.2% for...
Leading Austrian insurers are less solely reliant on the life segment than other European countries, which should benefit them in the short-term, with only two...
Despite claiming it had policy wordings excluding pandemics in 95% of its policies, Aviva announced that it has had to pay out business interruption claims...
China has emerged as the first country globally to post positive economic growth during the COVID-19 pandemic. The country is also expected to witness continued...
Insurance has fared particularly poorly in terms of news sentiment since the start of the COVID-19 pandemic. While leading data and analytics company GlobalData has...
Insurtech Zego has become the first insurer to announce a partnership with an e-scooter company for the UK’s first e-scooter trial, which highlights the greater...
The leading UK insurers are heavily reliant on the life sector, even compared to other European countries that have strong life leanings. Of the top...
The top ten insurers in Germany are reliant on life insurance, generating 77% of their GWP from life and health products. This makes them vulnerable...
The Indian motor insurance business is expected to contract by 27.2% in 2020, a sharp decline from the 10.1% growth witnessed in 2019, according to...
COVID-19 has presented brokers with challenges and opportunities, as they look to capitalize on increasing demand for cyber insurance while struggling with their own digital...
Business interruption claims will soar in the UK as a result of the COVID-19 lockdown. GlobalData’s revised post-COVID-19 forecasts general insurance DWP to decline by...
Following the news that the Canary Islands announced it will offer tourists free insurance covering coronavirus-related incidents; Ben Carey-Evans, Insurance Analyst at GlobalData, a leading data...
German insurers have been somewhat protected by the set-up of a government business interruption fund and are offering pandemic cover to businesses, which will boost...
The Australian travel insurance business is expected to contract by 7.7% in 2020 due to COVID-19 pandemic, a sharp decline from the 46.3% growth witnessed...
RSA and Direct Line have posted positive H1 2020 results despite COVID-19 due to being active in the motor market, according to GlobalData. GlobalData’s 2019 UK...
Short-term health insurance plans have been specifically designed in India to cover the costs of COVID-19 treatments and are set to encourage more citizens to...
A critical factor affecting the insurance industry will be a drop in life expectancy, which is set to emerge as a large source of burden...
MAPFRE is set to see a spike in claims, as its business is concentrated in South America and Europe, according to GlobalData, a leading data...
Bicycle insurance is not a popular product in the UK. Less than 1% of UK consumers have a bike insurance policy, according to GlobalData’s 2019...
Hong Kong’s HKD552bn (US$66bn) insurance industry is set to register a lower growth in 2020 due to the economic impact of COVID-19 outbreak. The total...
Due to the severe impact of COVID-19 on Thailand’s economy, the non-life insurance market is expected to contract by 5.6% in 2020, according to GlobalData,...
Despite the impact of Coronavirus (COVID-19), health insurance in India is projected to grow by 10% in 2020, according to GlobalData, a leading data and...
Germany’s export dependent economy has been hit hard by lockdown, which will see insurance GWP growth diminish as claims are set to rise, according to...
Chubb’s outlook remains susceptible to COVID-19 due to business concentration in the US non-life insurance segment, the potential economic downturn in the region and a...
Motor insurance customers in the UK are not expected to see a drop in premiums, even as claims have fallen, according to GlobalData, a leading...
Findings from GlobalData’s 2019 UK Insurance Consumer Survey indicate that the most common reason for claiming on travel insurance was for costs related to medical...
Aviva’s business concentration in Europe, and the expected rises in business interruption claims, is expected to affect the insurers’ profits in 2020. However, the spread...
The top ten Belgian insurers are slightly more dependent on the life segment in terms of gross written premiums (GWPs), in comparison with Europe - but the Belgium market has more balance...
Leading Dutch insurers are vulnerable to COVID-19 claims, as they are very dependent on the health segment. The Dutch life insurance market is extremely concentrated,...
The non-life-dominated Australian insurance sector’s top 10 players should be less exposed to the soaring COVID-19 claims, compared to other countries that are more dependent...
GlobalData’s revised post-COVID-19 forecasts for South Africa’s insurance industry sees a significant shift towards negative growth in both the life and non-life segments. GlobalData now...
An increase in threshold on which stamp duty is paid to £500,000 from £125,000 in the UK Government’s ‘mini budget’ has the potential to stimulate...
Life insurance sales are slowing as COVID-19 has led to disruption in the processes and fewer house purchases, a key trigger for life insurance purchases,...
COVID-19 has highlighted that the majority of businesses had no insurance protection against pandemics, even if they held a business interruption policy, which has created...
South Africa’s top 10 insurers overwhelmingly depend on the life insurance sector for their premiums, which leaves them exposed to high claims as a result...
COVID-19 has seen remote working become the new normal for many employees and data from a poll by GlobalData shows that 46% would look for...
Denmark’s top ten insurers overwhelmingly depend on the life insurance sector for their premiums, which could lead to increased claims and reduce their ability to...
France’s top ten insurers overwhelmingly depend on the life insurance sector for their premiums, generating 84% of their business from this area. This leaves them...
COVID-19 has highlighted the challenges faced by those in the cyber insurance market, but there is still a considerable opportunity to grow the market despite...
That rental e-scooters are now classed as motor vehicles in the UK represents a significant opportunity for insurers. Commuters are likely to avoid wanting to...
Lloyds Banking Group is set to refocus its attention on insurance due to declining banking profits, according to recent news. The group has reported profit...
Grounded flights around the world has brought the travel insurance market to a standstill with the sector set for a slow recovery as business travel will...
COVID-19 pandemic has entailed a greater degree of adoption of digitalization by brokers, agents and insurers in the Canadian insurance industry to ensure remote connectivity...
Following the news that Wimbledon is not able to renew its business interruption policy with pandemic inclusion after its large payout; Ben Carey-Evans, Insurance Analyst at...
Usage-based insurance (UBI) continues to attract funding despite the fall in insurtech investment due to COVID-19, says GlobalData, a leading data and analytics company. According to...
There will be little capacity for insurance product development in the short-term, but COVID-19 will shape future developments as it alters behaviours, according to GlobalData....
Taiwan’s general insurance industry is expected to contract by 1.7% in 2020 for the first time since the global financial crisis of 2008-2009, according to...
The rise in remote working due to the pandemic will increase the risk of cyber- attacks, and leave small businesses vulnerable, according to GlbalData, a...
The Turkish insurance market is expected be larger than previously anticipated in 2020 due to product diversification and digitalization following COVID-19, according to GlobalData, a...
The personal lines market in the UK will contract in 2020 as a result of COVID-19 impacting a range of different lines of business. Travel...
High unemployment levels from the COVID-19 pandemic will mean Insurance providers will struggle to convince policyholders to keep policies, according to GlobalData, a leading data...
Generali Group has extremely high exposure to Europe, and especially in its native Italy, which has been heavily impacted by COVID-19 and this leaves it...
With the COVID-19 cases rising and Zurich Insurance Group (Zurich) high exposure to Europe, the numbers of COVID-19-related insurance claims have spiked. However, its digital...
Home insurance, which has remained stagnant since 2017 in the UK, is expected to fall as COVID-19 hits the economy and consequently, the disposable income...
The life insurance industry in Japan is expected to contract by 1% in 2020, as compared to 2% growth registered in 2019, according to GlobalData,...
India’s general insurance industry is set to grow by 4.0% in 2020, compared to the 10% in 2019, according to GlobalData, a leading data and...
Investments made by insurers are vulnerable to the economic impacts caused by COVID-19. With a combination of volatility in financial markets, the increasing cost of...
Due to COVID-19 induced lockdowns, pet insurers are moving towards virtual appointments as face-to-face consultations have been restricted only to emergencies, says GlobalData, a leading...
The growth in the UK commercial property insurance market will plummet in 2020 before recovering and returning back to growth stage, claims GlobalData, a leading...
Demand for bicycle insurance is set to soar as consumers look to avoid public transport during the pandemic, and digitally savvy insurers should capitalize. GlobalData...
Following the news that virtual health insurer, Babylon Health, has suffered a data breach; Ben Carey-Evans, Insurance Analyst at GlobalData, offers his view: “Babylon Health will need...
With Brazil becoming a hotbed for COVID-19 pandemic, the country’s insurers are open to paying out on claims even if there is no pandemic clause...
COVID-19 will limit the uptake of connected home insurance policies, despite the pandemic making consumers embrace technology, according to GlobalData, a leading data and analytics...
GlobalData’s revised post-COVID-19 forecasts show that the COVID-19 pandemic has caused significant damage to insurers in Italy. The total value of general insurance premiums in...
With virtually all of the private healthcare sector’s capacity being reallocated to the NHS, private medical insurance (PMI) policyholders have been unable to access private...
The economic uncertainty and high risk of unemployment is expected to adversely impact the premium earnings of Belgian insurers, according to GlobalData, a leading data...
A significant decline in the demand for insurance products is a major obstacle for French insurers to overcome at this time, however the biggest concern...
COVID-19 has put the NHS under tremendous strain, which has created a backlog of cases that will see demand for private medical insurance increase as...
COVID-19 has highlighted the vulnerability of capital markets to external shocks and makes the diversification of retirement funding increasingly likely, according to GlobalData, a leading...
Zego has expanded its fleet partnership with RSA due to the increased demand for deliveries with the company’s on-demand and telematics-drive policies proving to be...
Following the announcement by the Financial Conduct Authority (FCA) that multiple insurers are to back down on the coronavirus policy dispute and pay company owners...
The number of individuals purchasing pets in the UK has surged since the lockdown measures were implemented by the government. Such a sudden increase in...
High-income households are willing to take on more investment risk in order to recoup losses from the stock market collapse, once it rebounds after COVID-19 ceases, says GlobalData,...
With majority of the brick and mortar retail shops closed due to COVID-19, online sales have become the new norm in the UK with its demand increasing,...
Insurers set for high COVID-19-based payouts will be hit harder by catastrophe claims towards the end of the calendar year as COVID-19 ramps up pressure...
The use of e-scooters has expanded across the globe and their rise in popularity in the UK will create an opportunity for insurers that are...
Thailand’s life insurance industry, which has witnessed decelerating growth rates since 2015, will decline in 2020 owing to the prevailing challenges aggravated by the macroeconomic impact of COVID-19,...
South Korea’s general insurance industry is expected to stagnate in 2020, with growth declining to 0.7% in 2020, as compared to the 2.8% in 2019, according to...
Drone usage within the insurance industry is expected to be accelerated due to the impact of COVID-19. The pandemic will change the way people and businesses interact...
The Indian life insurance industry is expected to contract in 2020, declining by 0.9% in 2020 as compared to 8.8% growth recorded in 2019, according to GlobalData,...
Home insurers could see a rise in premiums over the coming years if home working becomes more popular, as risk will shift from commercial property...
Despite majority of the UK customers not using cars and therefore being unlikely to renew policies, there will be a very slight growth of 0.4% in gross...
Businesses will be forced to reconsider their spending priorities as a result of COVID-19 pandemic and insurers are expected to ramp up investment in artificial intelligence (AI), according...
South African insurance GWP is set to decline in 2020 as businesses shut up shop, and the country’s faltering economy will struggle to cope, according...
While COVID-19 will have a significant impact across the insurance value chain, many opportunities for digitalization will be created, says GlobalData, a leading data and...
Following the news that AXA Ireland is to refund all motor customers a flat fee of EUR33 (£29), due to reduced usage during lockdown. Ben Carey-Evans,...
UK’s motor insurance provider, Admiral’s plan to refund policyholders will set a precedent for other insurers in the UK that will help the company to hold back...
Norwegian private health insurers are not expected to be liable for COVID-19-related claims, with the tax-funded universal healthcare to cover people, says GlobalData, a leading...
The Belgian insurance industry is expected to decline in GWP in 2020, as insurers allow customers to defer payments until September 30th, says GlobalData, a...
Following the news that the ABI has predicted that COVID-19 non-life related claims will exceed £1bn; Ben Carey-Evans, Insurance Analyst at GlobalData, comments on the news...
The life and health insurance sectors are expected to be more strained than property and casualty carriers in the US due to the nature of...
Danish casualty and life and property insurers are set to see a large spike in claims as the death rate rises and construction stops, says...
The Austrian insurance industry is set to be hit by disruption to the service sector and financial markets as expected growth will be reduced, says...
South Korea has implemented one of the most effective responses to the coronavirus (Covid-19), but even it cannot avoid an economic downturn, which has seen GlobalData, a...
Leading data and analytics company GlobalData has revised its insurance market forecasts for Spain to reflect the tough economic conditions faced by the country. Spain’s...
The European travel market is facing considerable long-term challenges due to the vast number of COVID-19 cases spreading around the continent. Cancelation costs attributed solely to...
Following the news that the UK government is discussing a financial package to help bankroll existing trade credit insurance contracts; Ben Carey-Evans, Insurance Analyst at GlobalData,...
Hong Kong’s life insurance industry is expected to slow down, with an expected annual growth of 3.9% in 2020 as compared to the 6.6% in 2019, according...
Economic uncertainty and declining financial markets are expected to impact a range of Dutch insurance products, says GlobalData, a leading data and analytics company. GlobalData insurance...
Canada’s high-quality universal healthcare system is set to limit exposure of private insurers in COVID-19 treatment but the non-life sector will struggle. Private health insurers...
Following the news that the Financial Conduct Authority (FCA) is applying pressure on insurers to settle business interruption (BI) claims to SMEs; Ben Carey-Evans, Insurance Analyst...
Australia’s insurance industry is poised for a decelerated growth over the next five years due to the challenging business environment and coronavirus (Covid-19) outbreak. As a result, the...
The majority of consumers around the world are using their cars much less, if at all, during the current lockdown. Therefore, it is expected that...
With South Korean life insurers coming under intense pressure due to stagnating sales amid challenging business environment and increasing claims due to coronavirus (Covid-19) outbreak, the country’s life...
The COVID-19 pandemic has shocked financial markets around the world and survey data from GlobalData, a leading data and analytics company, reveals that personal pension holders may...
Insurers will be hit amid the COVID-19 epidemic as customers look to reduce outgoings, but savvy players can retain or gain customers by embracing usage-based, on-demand insurance, says GlobalData, a leading data...
Workers in the US are facing the daunting process of losing both their jobs and consequently health insurance as the two are often tied together,...
Life insurance is a sector where insurers are set to struggle against the vast number of claims, with France set to be hit the hardest,...
New car registrations were down in excess of 40% in March 2020, when compared with the same period last year, which leading data and analytics...
Following the recent news that Wimbledon, a prestige UK tennis tournament, is set to receive over £100m from its pandemic insurance; Ben Carey-Evans, Insurance Analyst at GlobalData, shares his insights on the events preparations for pandemics such as the coronavirus (COVID-19) outbreak: “Wimbledon has shown it is one step ahead of most businesses by having insurance in place for current events. It has been paying around £1.5m per year...
The German life and non-life insurance sectors are expected to see slower gross written premium (GWP) growth post-COVID-19, but a sharp rise in life and...
It is incredibly tough for insurers to keep customers satisfied at present and landlord insurance, where customers are caught between not receiving rent and being unable to...
Following the news that more insurance companies are withdrawing travel cover related to the outbreak of the coronavirus (COVID-19); Johanna Bonhill-Smith, Travel & Tourism Analyst at...
With the regulatory changes and the use of technology, the insurance industry in China is beginning to recover from the losses incurred due to the Covid-19 outbreak....
Private medical insurance (PMI) in the UK is set to suffer declines as private hospitals reached a deal with the NHS to provide beds, ventilators, staff and space amid the coronavirus (COVID-19) pandemic, according to GlobalData, a leading data and analytics company. GlobalData’s UK Insurance Consumer Survey reveals that in 2019, 28.8% of respondents were concerned...
Motor insurance, which is a dominant business line in the Japanese general insurance market, is set to witness stagnation over the next four years due to the...
India’s pure reinsurance business is among the fastest-growing markets globally. The recent regulatory changes by the Insurance Regulatory and Development Authority of India (IRDAI) are set to encourage...
Generation rent is an impeding factor on the household insurance market, with start-ups and some incumbents now offering flexible renters’ cover. Under the backdrop of a decline in UK household insurance gross written premiums (GWP), which fell by 4.9% to £6.2bn in 2018,...
Following the news that LV= has stopped offering travel insurance and Aviva has altered its travel offering to exclude travel disruption following the spread of...
The recent move by Indonesia to relax foreign investment cap will help infuse capital and address the ongoing challenges the domestic life insurance companies are facing, says GlobalData,...
Following the news that a start-up insurtech telematics provider has been recording faulty driving data, which has led to young people being threatened with having...
The Malaysian life insurance market, in terms of gross written premiums, is projected to grow at a compound annual growth rate (CAGR) of 4.4% from MYR46.7bn (US$11.6bn)...
A combination of factors including the country’s demographic crisis, a low-interest rate regime and slow economic growth are stifling the growth of South Korea’s life insurance industry, which...
The growth of the sharing economy, a system in which assets or services are shared between private individuals, has been relentless, and it has shaken...
The motor insurance business in Malaysia is projected to grow from MYR8.2bn (US$2.0bn) in 2018 to MYR9.7bn (US$2.4bn) in 2023, in terms of net earned premium (NEP),...
Following the news that Aviva has apologised after addressing millions of customers as ‘Michael’ in a mass email; Ben Carey-Evans, Insurance Analyst at GlobalData, offers his...
Sustainability will be the key trend in 2020 and for the coming decade as it is an industry-wide issue that will fundamentally change how insurers...
The health insurance business in China is projected to grow from CNY437.4bn (US$64.7bn) in 2017 to CNY921.1bn (US$136.6bn) in 2022, according to GlobalData, a leading data and analytics...
A recent survey has found that there are differences in the priorities of different generations when it comes to employee benefits packages, and employers should maximize...
Amid uncertainty over the US-China trade war, the long-awaited liberalization of the booming Chinese insurance industry will offer vast opportunities for foreign life insurance companies,...
Following the announcement of agreement for acquisition of Cigna's group life and disability insurance business by New York Life on 18 December 2019; Aurojyoti Bose, Lead...
The general insurance business in Thailand is projected to grow from THB247.6bn (US$7.7bn) in 2018 to THB285.5bn (US$9.1bn) in 2023, according to GlobalData, a leading...
High susceptibility to natural hazards combined with rise in residential and infrastructure construction is expected to drive New Zealand’s general insurance market from NZD8.4bn (US$5.8bn)...
Susceptibility to natural calamities combined with the government’s push towards infrastructural investments and related insurance coverage is expected to drive the general insurance market in...
Following the news that Japanese retailer Miniso and e-commerce majors Amazon India and Flipkart have entered into a strategic partnership just ahead of their annual...
The rise of direct sales channel is set to diminish the traditional dominance of the brokers and agents in the Indian general insurance business over...
Growing middle class, increasing awareness of the need for protection and favorable regulatory landscape are expected to drive the general insurance market in India from...
Growing middle class, increasing awareness of the need for protection and favorable regulatory landscape are expected to drive the general insurance market in India from...
Global insurtech funding topped $3bn in 2018, an increase of 84.2% from 2017. Consumers are being offered more digital policies as start-ups continue to emerge,...
Following the news that Tesla has introduced its own insurance product, Tesla Insurance, for customers in California, Ben Carey-Evans, Insurance Analyst at GlobalData, a leading...
Verizon is the leading company in the advertising sector for the cybersecurity theme, according to the latest Thematic Scorecard from GlobalData. Verizon gained the highest Thematic...
Apple, Amazon and Google are the leading companies in the artificial intelligence (AI) theme, according to the latest Thematic Scorecard for the consumer electronics sector...
PayPal, China’s Alibaba and Tencent, and South Korea’s Naver are the leading companies in the Mobile Payments theme, according to the latest Thematic Scorecard for...
Chinese companies Huawei and ZTE and Singapore based Broadcom are the three networking equipment companies most at risk from the geopolitical unrest currently engulfing the...
Amazon and Google are the leading companies in the Conversational Platforms theme, according to the latest Thematic Scorecard for the consumer electronics sector from GlobalData,...
Following the latest Ogden rate change from -0.75% to -0.25%, Yasha Kuruvilla, General Insurance Associate Analyst at GlobalData, a leading data and analytics company, offers...
As more small and medium enterprises (SMEs) begin to digitize part or all of their business, the need for cyber cover has gained prominence more...
Following the news that Amanda Blanc has resigned from her role as head of European business at Zurich, Ben Carey-Evans, Insurance Analyst at GlobalData, a...
Following Facebook’s recent announcement that it will be launching a digital currency called Libra, Bhavika Shah, Payments Analyst at GlobalData, a leading data and analytics company,...
The aggregator market continues to exert great influence over the personal lines sectors of insurance, with over two-thirds of all motor policies purchased via such...
The proportion of UK small and medium enterprises (SMEs) that offer their employees benefits is quite low, with only 26.3% of SMEs offering flexible working...
Comprehensive cover was the leading consumer choice in the UK in 2018, accounting for 42% of income protection purchases, according to GlobalData, a leading data...
There are opportunities for employers at small and medium-sized enterprises (SMEs) to improve staff satisfaction and attract new staff by offering a range of competitive...
After inheriting, 28.3% of HNW clients’ children discontinue the relationship with their parents’ wealth manager, according to GlobalData, a leading data and analytics company. The company’s...
The popularity of consumer DNA testing has soared due to technological advancements, making this service cheap enough to be affordable to the public. Businesses that...
‘Hannover Re’s’ new innovation pool, ‘hr | equarium’, aims to play matchmaker for digital innovators and incumbent insurers, says GlobalData, a leading data and analytics...
Technology is a relatively new addition within the wealth management industry, from robo-advisors to AI-enabled chatbots. However, the need for human financial advice will not...
Almost 40% of millennials in Asia-Pacific were contacting their wealth managers via a chat application in Q2 2018, a 10 percentage point increase since 2017,...
Following the news of the merger agreement between Fidelity Information Services (FIS) and Worldpay, Bhavika Shah, Payments Analyst at GlobalData, a leading data and analytics company...
Insurtech start-up ‘DeadHappy’ is looking to revolutionize life insurance by introducing its flexible, pay-as-you-go product, to a market lacking true innovation, according to GlobalData, a...
Following today’s (7 March 2019) release of Aviva’s preliminary results for 12 months ended 31 December 2018, Ben Carey-Evans, Insurance Analyst at GlobalData, offers his...
The rapid rise in contactless payments in the UK means that the UK is shifting towards a ‘cashless society’, says GlobalData, a leading data and...
Following the news that Japan's Mitsubishi UFJ Financial Group is launching an open payment network built on the blockchain in 2020, Sam Murrant, Senior Payments...
The majority of UK banking customers prefer day-to-day assistance with existing personal financial management (PFM) tasks like simple balance alerts, rather than more sophisticated financial...
Incumbent mortgage brokers such as John Charcol and Countrywide will face a strong challenge to their market shares over the next five years from digital...
All of the top 25 global economies are set for growth in 2018, achieving an average growth rate of 2.8%, according to recent forecasts by...
China UnionPay (UnionPay), which has been depending on card acceptance for international expansion, has shifted its strategy towards card issuance outside its domestic market. ...
The surge in bitcoin prices means that the cryptocurrency’s market valuation has now crossed * $75bn. Bitcoin prices have already quadrupled since the start of...
As the urban population continues to increase, there is a significant increase in the number of ‘megacities’ on the planet. GlobalData’s latest city data reveals...
