Average premium earned by top 20 global public insurers rises by 3.3%

Written by Adam Cadle

18/07/2023

The average premium earned by the top 20 global public insurers rose by 3.3% in 2022, GlobalData has revealed.

Of the top 20, 13 insurers reported YOY growth in premiums earned in 2022, with the notable performers being Dai-ichi Life, MetLife and Elevance Health.

GlobalData company profiles analyst Murthy Grandhi said: “Insurance companies have thrived due to the confluence of strong economic tailwinds, heightened risk awareness, and record-high savings buoyed by booming markets.”

Japan Post Holdings and AXA experienced significant declines in earned premiums, with respective decreases of 21.1% and 8.6%, resulting in a decline in overall revenue.

Grandhi concluded: “The global insurance industry is confronted with numerous challenges in 2023, including high inflation, losses from natural catastrophes, climate change, looming economic recession in Europe, geopolitical uncertainties, competition from InsurTech companies, and volatility in financial markets, making it difficult to regain momentum. Moreover, the central banks' ongoing interest rate hikes are contributing to risk repricing within financial markets.”

There are no related documents to show at this time.

Portfolio optimisation in today’s challenging market environment

Adam Cadle speaks to Dr Laura Ryan, Head of Research at Ardea Investment Management, about the firm’s insurance asset allocation optimisation tool and the reasons for developing it

The role ETFs can play in the ESG journey for insurers

Justin Wheeler, Head of UK iShares Asset Owner Distribution at BlackRock, and Mark Guirey, Head of EMEA Insurance Segment and UK Asset Owner Client Coverage at MSCI, discuss the drivers behind growth in this area, market reactions to COVID-19, and the role of indexing