Global Insurance Industry Maintains Strong Growth as Asia and Health Coverage Lead Expansion
World — According to the Allianz Global Insurance Report 2026, the global insurance industry remained on a strong growth trajectory in 2025 despite easing from the exceptional expansion recorded a year earlier, with Asia emerging as the main growth engine and health insurance becoming the fastest-growing segment.
The report said global insurance premiums rose 7.1 percent in 2025 to €6.9 trillion, well above the industry’s long-term average despite slowing from the 9.4 percent growth recorded in 2024. Life insurance remained the largest segment, followed by Property and Casualty (P&C) insurance and health insurance.
Growth in the P&C market moderated as pricing cycles normalized and claims inflation stabilized. Life insurance also expanded at a slower pace as demand for annuities cooled in North America, while Asia regained its position as the industry’s main growth driver, supported by ageing populations, high savings rates and growing demand for private retirement planning.
Health insurance recorded the strongest growth among all segments, driven by rising medical costs, ageing populations and increasing pressure on public healthcare systems. The report noted that while North America remains the largest health insurance market, Asia offers significant long-term growth potential because insurance penetration remains low across many countries.
The report also identified geopolitical fragmentation as a key challenge and opportunity for insurers, saying shifting trade patterns and increasing regional risks are driving demand for specialized protection while requiring insurers to adopt more resilient business models.
Looking ahead, the report forecasts the global insurance market will grow by an average of 5.3 percent annually through 2036, with Asia expected to contribute more than half of the additional global premium growth. India and China are projected to steadily increase their share of the global insurance market, reinforcing the industry’s gradual shift toward the East.