Investment Rating - The report indicates a positive outlook for the insurance industry, particularly in personal and commercial property and casualty (P&C) sectors, suggesting a shift towards sustained, profitable growth [6][43][48]. Core Insights - The global insurance industry is navigating a volatile environment characterized by high inflation, uncertain interest rates, and geopolitical instability, yet there are significant opportunities for growth [5][6]. - Personal P&C insurance premiums grew by 9.5% in 2022-23, reaching $1.1 trillion, indicating a recovery from previous years [7][46]. - The life insurance market is being reshaped by demographic changes, particularly the aging population, which presents opportunities for innovative policy offerings [12][13]. Summary by Sections Personal P&C - Personal lines insurance growth was primarily driven by rate increases, with limited expansion into new risks, and the relevance of personal lines as a share of global GDP remains below pre-pandemic levels [42][46]. - The coverage gap between mature and emerging economies is widening, with personal lines premiums in mature markets stable while those in emerging markets have decreased [47][52]. - Opportunities for innovation and expansion exist in Latin America and Asia, driven by changing consumer needs and technological advancements [8][44][48]. Commercial P&C - Global commercial P&C insurance lines have shown strong growth, with premiums increasing by an average of 8% annually over the past five years, primarily due to higher premiums [10][11]. - Insurers are encouraged to focus on operational effectiveness and core business capabilities to capture consistent, profitable growth [11][59]. Life Insurance - The life insurance sector is experiencing mixed signals, with some product lines benefiting from resilient macroeconomic conditions while others struggle for relevance [12][13]. - The aging population and changing social norms present opportunities for more flexible life insurance products [13][44]. Trends and Innovations - Emerging mobility models and the increasing frequency of natural disasters are prompting insurers to rethink their coverage strategies [79][80]. - The adoption of advanced driver-assistance systems (ADAS) and electric vehicles (EVs) is expected to reshape auto insurance markets, requiring new underwriting capabilities [81][82][86]. - Investment in capabilities to manage natural disasters is crucial, as a significant portion of losses remains uninsured [93][94].
2025年全球保险报告：追求增长（英）2024
麦肯锡·2024-12-05 04:05