Allianz – Global Insurance Report, May 2025

The main theme of the report is the rising demand for insurance and changes in the global insurance industry.

In 2024, the global insurance industry grew by +8.6%, adding 557 billion euros to the global premium pool. Insurance penetration (premiums as a percentage of GDP) increased from 7.1% in 2022 to 7.4% in 2024. The P&C (property and casualty) segment grew by +7.7%, with the main growth in North America. The life insurance segment grew by +10.4%, mainly driven by North America. In the healthcare segment, the US dominates, with premium income increasing by +7.0% in 2024. Global GDP growth is expected to slow to +2.3% in 2025 due to the US trade war and high levels of global uncertainty.