Size Of Market

World Life And Nonlife Insurance Direct Premiums Written, 2020-2022 (1)

(US$ millions)

Year	Life	Nonlife (2)	Total
2020	$2,681,587	$3,537,911	$6,219,498
2021	2,940,266	3,824,428	6,764,694
2022	2,813,032	3,969,203	6,782,235

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

Source: Swiss Re, sigma database.

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Top 10 Countries By Life And Nonlife Direct Premiums Written, 2022 (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)	$672,006	$2,287,801	$2,959,807	8.6%	43.7%
2	PR China	364,359	333,448	697,807	0.2	10.3
3	United Kingdom (5)	248,240	114,769	363,009	-2.8	5.4
4	Japan (5), (6)	243,892	93,920	337,812	-15.1	5.0
5	France (5)	157,179	104,075	261,254	-10.7	3.9
6	Germany (5)	99,164	142,469	241,633	-11.3	3.6
7	South Korea (5), (6)	88,026	94,820	182,846	-5.3	2.7
8	Canada (5), (7)	71,639	99,332	170,971	2.8	2.5
9	Italy (5)	115,938	44,229	160,167	-16.5	2.4
10	India (5) (6)	99,503	31,538	131,041	6.5	1.9

(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, 2022 – March 31, 2023.
(7) Life premiums are net premiums.

Source: Swiss Re, sigma, No. 3/2023.

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