Top 25 global insurers' market value up 17% YoY in Q1 2025

Written by Adam Cadle

09/04/2025

The aggregate market capitalisation (MCap) of the top 25 global insurers grew 17% to $3.5trn year-on-year (YoY) during Q1 2025.

Most of the stocks recorded a sharp growth in Q1, benefiting from the higher premium pricing amid inflationary trends, improved investment income driven by elevated interest rates, and favorable underwriting performance due to fewer large-scale catastrophic events in the period, according to GlobalData.

PICC P&C, the largest non-life insurance company in mainland China, shares registered a remarkable 40.5% growth in market value during the period, driven by strong FY2024 results on the back of strategic optimisation of its motor vehicle insurance business structure with 38.8% market share in household motor vehicle insurance, coupled with accelerated growth in non-motor vehicle insurance segments and enhanced operational efficiency through technology-enabled expense management.

Murthy Grandhi, company profiles analyst at GlobalData, said: “Looking ahead to Q2 2025, the global insurance industry faces a nuanced outlook. The US Federal Reserve has signalled a potential pause in interest rate hikes, which could stabilise fixed income yields and benefit life insurers' investment portfolios. However, geopolitical developments—such as recent tariff escalations between the US and China—may pressure global trade insurance demand and raise claims risk, particularly in marine and credit insurance lines.

“Moreover, inflationary pressures in Europe and selective tightening in Asian economies could compress margins, though they also prompt upward repricing, supporting premium growth. On the positive side, increased awareness of climate and cyber risks are expected to drive further growth in specialty insurance lines.”

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