1、27 May 2025Allianz ResearchAllianz Global Insurance Report 2025:Rising demand for protectionAllianz Research2Content Page 3-4 Executive SummaryPage 5-13Looking back:Stellar growthPage 14-18 The changing risk landscapePage 19-22 Looking ahead:The rising need for protectionPage 22-26 The next frontier

2、:Advancing SDGsPage 27-28 Appendix27 May 2025 The global insurance industry grew by an estimated+8.6%in 2024,surpassing the previous years record growth of+8.2%and adding a massive EUR557bn to the global premium pool.In total,insurers worldwide collected EUR7.0trn in life,P&C and health insurance pr

3、emiums.Insurance penetration(premiums as a percentage of GDP)also rose from 7.1%in 2022 to 7.4%in 2024.However,this is roughly the same level as ten years ago.While health insurance has increased its relevance over the past decade and P&C has managed to defend its turf,life insurance has fallen quit

4、e sharply,and is still recovering from the period of ultra-low interest rates.The global P&C segment grew by+7.7%last year,slightly less than the previous year(+8.3%).More remarkably,growth was mainly driven by the largest market,North America,where premium income increased by+8.2%.While premium inc

5、ome in Western Europe increased by+6.0%,the Asian P&C market was less dynamic,growing by only+4.0%.As a result,it is still smaller than its Western European counterpart,despite the fact that more than six times as many people live in this region as in Western Europe.This is true even if Japan and Ch

6、ina are included.The term growth markets“loses its luster when North America easily outstrips Asia.The life segment grew by+10.4%in 2024,faster than the other two segments and also faster than in 2023(+8.2%).The main driver was once again North America,which grew by an astonishing 14.4%:As interest