Life Insurance & Pension in North America industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The North American life insurance & pension market recorded gross written premiums of $805.0 billion in 2023, representing a compound annual growth rate (CAGR) of 3.6% between 2018 and 2023.
- The pension/annuity segment accounted for the market's largest proportion in 2023, with total gross written premiums of $576.3 billion, equivalent to 71.6% of the market's overall value.
- The growth in the North American life insurance & pension market is driven by the increasing population of individuals aged 65 and above. This demographic shift is fuelling demand for retirement savings plans and income protection policies as people seek financial security for their post-retirement years. According to the United States Census Bureau, the population of individuals aged 65 and above in the US stood at 60.7 million in 2023, an increase of 5.0% from the previous year.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in North America
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in North America
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the North America life insurance & pension market with five year forecasts
Reasons to Buy
- What was the size of the North America life insurance & pension market by value in 2023?
- What will be the size of the North America life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the North America life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up North America's life insurance & pension market?
Table of Contents
1 Executive Summary
2 Market Overview
3 Market Data
4 Market Segmentation
5 Market Outlook
6 Five Forces Analysis
7 Competitive Landscape
8 Company Profiles
9 Macroeconomic Indicators
10 Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- The Northwestern Mutual Life Insurance Co
- New York Life Insurance Co
- Prudential Financial Inc
- Knights of Columbus
