The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

As per The Business Research Company’s Equity Indexed Life Insurance Global Market Report 2024, the equity indexed life insurance market is expected to show significant growth in the forecast period.

 

Market Size and Growth

• The equity indexed life insurance market has experienced significant growth, expanding from $3.79 billion in 2023 to $4.27 billion in 2024, with a CAGR of 12.7%.
• Projections indicate continued rapid growth, reaching $7 billion by 2028 at a CAGR of 13.2%.

Historical Growth Drivers

• Product diversification and customization.
• Increased demand for cash value growth.
• Market expansion and a competitive landscape.
• Adaptation to low-interest rates.
• Evolution of indexed products.

Future Growth Factors

Market Volatility Mitigation and Retirement Planning

• The ability to mitigate market volatility is a key factor driving growth.
• Increasing demand for reliable retirement planning solutions.
• Innovative product offerings tailored to consumer needs.

Consumer Awareness and Regulatory Changes

• Growing consumer awareness about financial products.
• Changes in the regulatory landscape enhancing market growth.

 

View More On The Equity Indexed Life Insurance Market Report 2024 – https://www.thebusinessresearchcompany.com/report/equity-indexed-life-insurance-global-market-report

 

Major Trends in the Market

Product Innovation and Hybrid Solutions

• Development of new products combining various insurance features.
• Integration of hybrid solutions to meet diverse consumer needs.

ESG Factors and Transparency

• Incorporation of environmental, social, and governance (ESG) factors into product offerings.
• Increased focus on education and transparency to build consumer trust.

Accumulation and Cash Value Growth

• Emphasis on accumulation and growth of cash value within insurance products.
• Implementation of risk mitigation strategies to ensure stability and growth.

Increased Insurance Accessibility Drives Market Growth

Online Sales and Lower Premiums

• Online sales have made insurance products more accessible.
• Equity-indexed life insurance often offers lower premiums compared to whole life insurance.

Rising Insurance Costs and Market Expansion

• Property or casualty insurer replacement costs expected to rise 4.5% to 6.5% annually.
• The insurance market grew by 2.7% to $29.8 billion in 2021, with total premiums collected reaching $2.9 trillion, an 8.2% growth from 2020.

Key Companies in the Market

• AXA Equitable Life Insurance Company
• Ping An Insurance Group Company of China Limited
• Swiss Reinsurance Company Ltd.
• Prudential Financial Inc.
• American International Group Inc. (AIG)
• AIA Group Limited
• Berkshire Hathaway Inc.
• MetLife Inc.
• Assicurazioni Generali S.p.A.
• Zurich Insurance Group AG
• Munich Reinsurance America Inc.
• Chubb Limited
• The Allstate Insurance Company

Product Innovations Driving Market Momentum

Sun Life International’s Sun Global Solis

• Launched in December 2021, this product offers ultra-high net worth (UHNW) and high net worth (HNW) clients a blend of long-term protection and upside potential.
• Features include competitive indexed account cap rate choices, a 2% cumulative guarantee, access to liquidity, and no-cost extended issue age and dollar cost averaging.

Chubb Limited’s Acquisition of Cigna’s Health and Life Insurance Business

• In July 2022, Chubb Limited acquired Cigna Corp.’s health and life insurance business for $5.36 billion.
• This acquisition strengthens Chubb’s presence in the Asia-Pacific region.

Market Segmentation

Types and Modes

• Types: Whole life insurance, Universal life insurance, Variable universal life insurance, Indexed universal life insurance, Other Types.
• Modes: Online, Offline.

Distribution Channels

• Channels: Agency, Brokers, Bancassurance, Digital, and Indirect Channels.

Regional Insights

North America

• The largest region in the equity-indexed life insurance market in 2023.
• Strong market presence due to advanced financial infrastructure and high consumer awareness.

Asia-Pacific

• Expected to see significant growth due to increasing consumer awareness and expanding financial services infrastructure.

Conclusion

The equity indexed life insurance market is poised for substantial growth, driven by innovative products, increased consumer awareness, and regulatory changes. With major companies continually developing new offerings and expanding their market presence, the future looks promising for this dynamic market.

 

Request A Sample Of The Global Equity Indexed Life Insurance Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=2450&type=smp

 

The Equity Indexed Life Insurance Global Market Report 2024  provides an in-depth analysis on the equity indexed life insurance market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the equity indexed life insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –

Revenue Cycle Management Software Global Market Report 2024

Reinsurance Global Market Report 2024

Insurance Agencies Global Market Report 2024

 

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: