Size Of Market

World Life And Nonlife Insurance Direct Premiums Written, 2020-2024 (1)

(US$ millions)

Year	Life	Nonlife (2)	Total
2020	$2,682	$3,538	$6,219
2021	2,940	3,824	6,765
2022	2,813	3,969	6,782
2023	2,977	4,299	7,276
2024	3,198	4,602	7,799

(1) Before reinsurance transactions.
(2) Includes accident and health insurance.

Source: Swiss Re Institute, sigma 2/2025.

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Top 10 Countries By Life And Nonlife Direct Premiums Written, 2024 (1)

(US$ millions)

				Total premiums
Rank	Country	Life premiums	Nonlife premiums (2)	Amount	Percent change from prior year	Percent of total world premiums
1	United States (3), (4), (5)	$781,205	$2,715,509	$3,496,714	8.1%	44.8%
2	PR China	443,553	348,063	791,616	9.4	10.2
3	United Kingdom (5)	334,442	150,425	484,867	6.8	6.2
4	Japan (5), (6)	257,952	80,938	338,890	-6.6	4.4
5	France (5)	190,323	102,149	292,472	10.8	3.8
6	Germany (5)	97,890	168,573	266,463	5.0	3.4
8	Canada (5), (7)	74,449	106,138	180,587	4.7	2.3
9	Italy (5)	126,950	52,913	179,863	14.6	2.3
7	South Korea (5), (6)	77,656	98,033	175,689	-0.8	2.3
10	India (5), (6)	104,839	36,322	141,161	4.0	1.8

(1) Before reinsurance transactions.
(2) Includes accident and health insurance.
(3) Nonlife premiums include private medical insurance.
(4) Nonlife premiums include state funds; life premiums are net premiums and are supplemented by estimated premiums for group pension business.
(5) Estimated or provisional.
(6) Financial year April 1, 2024 – March 31, 2025.
(7) Life premiums are net premiums.

Source: Swiss Re Institute, sigma, No. 2/2025.

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