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Home News World The Global Non-Life Insurance Market Wrote Total Gross Premiums of $1,335.1 Billion in 2005


The Global Non-Life Insurance Market Wrote Total Gross Premiums of $1,335.1 Billion in 2005
added: 2006-12-21

The global non-life insurance market wrote total gross premiums of $1,335.1 billion in 2005, this representing a compound annual growth rate (CAGR) of 6.8% for the five-year period spanning 2001-2005.

The property and casualty segment proved the most lucrative for the global non-life insurance market in 2005, generating total written premiums of $1,002 billion, equivalent to 75.1% of the markets overall value.

The performance of the market is forecast to decelerate, with an anticipated CAGR of 4.8% for the five-year period 2005-2010 expected to drive the market’s total gross premiums to a value of $1,686.7 billion by the end of 2010.

The non-life insurance market consists of the accident and health insurance sector, as well as, the property and casualty insurance sector. The value of the non-life insurance market is shown in terms of gross premium incomes. Any currency conversions used in the report have been calculated using constant 2005 annual average exchange rates.

The non-life insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates.


Source: Business Wire

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