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APAC insurance premiums to grow 2.3% annually in 2024-2025

Swiss Re Institute projects a significant growth in insurance premiums in the Asia-Pacific region, estimating a 2.3% annual increase for 2024 and 2025, a jump from the 0.7% growth expected in 2023. Globally, insurance premiums are forecasted to rise by 2.2% annually over the next two years, surpassing the 1.5% growth in 2023 and the 1.6% five-year average. This expected growth, despite geopolitical and economic uncertainties, underscores the insurance sector's vital role in risk management. Non-life insurance premiums globally are set to grow 2.1% annually, with a higher 2.8% growth anticipated in the Asia-Pacific region. The life insurance sector is also expected to see an uptick, with global premiums growing 2.3% annually and Asia-Pacific premiums increasing from 0.2% in 2023 to 2.2% annually in the next two years.


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