Agency: The United States is the world’s largest insurance market.According to figures released by Swiss Re,the United States accounts for 40 percent of the world’s insurance premiums.In the year 2019, that percentage was 39.5%.
China remains at second position with a 10 percent share of the global insurance market.Its insurance premium volume growth is 6.2pc which is 2nd most highest in terms of growth.
Japan is in the third with a market share of 6.6 percent. Similarly, India remained in 11th position in the world insurance market ranking.Its has a nominal premium volume growth of 0.1pc which is the lowest growth in the global ranking.
According to the report published by Swiss Re, the insurance premium volume of Brazil has been sharply declined by 21.5pc which is the highest decline in the world insurance. While South Korea has the highest premium volume growth of 8.2 pc.