In 2024, the total assets of the global insurance market increased by 2.7% to $40 trillion, driven by positive market trends, Report informs, citing the International Association of Insurance Supervisors (IAIS).
The IAIS also indicates that total liabilities of the insurance market grew by 2.4% to $34 trillion during the same period, primarily due to higher premiums.
The solvency and profitability of insurers remained stable, thanks to strong underwriting performance and solid investment returns.
The insurance sector's profitability was bolstered by strong capital and favorable financial market conditions. It is expected to remain stable or improve in 2024-2025.