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Whole Life Insurance Global Market Report 2020

  • ID: 4871557
  • Report
  • December 2019
  • Region: Global
  • 200 pages
  • The Business Research Company
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FEATURED COMPANIES

  • Aegon
  • Allianz
  • AXA
  • CPIC
  • Manulife Financial
  • PingAn
  • MORE
Whole Life Insurance Market Global Report 2020 from the author provides strategists, marketers and senior management with the critical information they need to assess the global whole life insurance market.

Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order.
Description:
Where is the largest and fastest growing market for the whole life insurance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Whole Life Insurance Market Global Report from the author answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market:
  • The Market Characteristics section of the report defines and explains the market.
  • The Market Size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
  • Market Segmentations break down market into sub markets.
  • The Regional and Country section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
  • Competitive Landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The Trends and Strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
Scope
  • Markets Covered: 1) By Product: Non-participating Whole Life, Participating Whole Life 2) By Application: Agency, Brokers, Bancassurance, Digital & Direct Channels
  • Companies Mentioned: Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn)
  • Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
  • Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
  • Time Series: Five years historic and forecast.
  • Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
  • Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Aegon
  • Allianz
  • AXA
  • CPIC
  • Manulife Financial
  • PingAn
  • MORE
1. Executive Summary

2. Whole Life Insurance Market Characteristics

3. Whole Life Insurance Market Size And Growth
3.1. Global Whole Life Insurance Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Whole Life Insurance Forecast Market, 2019 - 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Whole Life Insurance Market Segmentation
4.1. Global Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
  • Non-participating Whole Life
  • Participating Whole Life
4.2. Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
  • Agency
  • Brokers
  • Bancassurance
  • Digital & Direct Channels
5. Whole Life Insurance Market Regional And Country Analysis
5.1. Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
5.2. Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

6. Asia-Pacific Whole Life Insurance Market
6.1. Asia-Pacific Whole Life Insurance Market Overview
6.2. Asia-Pacific Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
6.3. Asia-Pacific Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

7. China Whole Life Insurance Market
7.1. China Whole Life Insurance Market Overview
7.2. China Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F,$ Billion
7.3. China Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F,$ Billion

8. India Whole Life Insurance Market
8.1. India Whole Life Insurance Market Overview
8.2. India Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
8.3. India Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

9. Japan Whole Life Insurance Market
9.1. Japan Whole Life Insurance Market Overview
9.2. Japan Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
9.3. Japan Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

10. Australia Whole Life Insurance Market
10.1. Australia Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
10.2. Australia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

11. Indonesia Whole Life Insurance Market
11.1. Indonesia Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
11.2. Indonesia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

12. South Korea Whole Life Insurance Market
12.1. South Korea Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
12.2. South Korea Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

13. Western Europe Whole Life Insurance Market
13.1. Western Europe Whole Life Insurance Market Overview
13.2. Western Europe Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
13.3. Western Europe Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

14. UK Whole Life Insurance Market
14.1. UK Whole Life Insurance Market Overview
14.2. UK Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
14.3. UK Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

15. Germany Whole Life Insurance Market
15.1. Germany Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
15.2. Germany Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

16. France Whole Life Insurance Market
16.4. France Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
16.5. France Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

17. Eastern Europe Whole Life Insurance Market
17.1. Eastern Europe Whole Life Insurance Market Overview
17.2. Eastern Europe Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
17.3. Eastern Europe Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

18. Russia Whole Life Insurance Market
18.1. Russia Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
18.2. Russia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

19. North America Whole Life Insurance Market
19.1. North America Whole Life Insurance Market Overview
19.2. North America Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
19.3. North America Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

20. USA Whole Life Insurance Market
20.1. USA Whole Life Insurance Market Overview
20.2. USA Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
20.3. USA Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

21. South America Whole Life Insurance Market
21.1. South America Whole Life Insurance Market Overview
21.2. South America Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
21.3. South America Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

22. Brazil Whole Life Insurance Market
22.1. Brazil Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
22.2. Brazil Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

23. Middle East Whole Life Insurance Market
23.1. Middle East Whole Life Insurance Market Overview
23.2. Middle East Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
23.3. Middle East Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

24. Africa Whole Life Insurance Market
24.1. Africa Whole Life Insurance Market Overview
24.2. Africa Whole Life Insurance Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
24.3. Africa Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion

25. Whole Life Insurance Market Competitive Landscape And Company Profiles
25.1. Whole Life Insurance Market Competitive Landscape
25.2. Whole Life Insurance Market Company Profiles
25.2.1. Allianz
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. Assicurazioni Generali
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. China Life Insurance
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. MetLife
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. PingAn
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance

26. Key Mergers And Acquisitions In The Whole Life Insurance Market

27. Whole Life Insurance Market Trends And Strategies

28. Whole Life Insurance Market Future Outlook and Potential Analysis

29. Appendix
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Aegon
  • Allianz
  • AXA
  • CPIC
  • Manulife Financial
  • PingAn
  • MORE
The whole life insurance providers market consists of sales of whole life insurance products that provide guaranteed death benefits during the entire life of the policyholder. Clients of these insurance providers are the general public who buy life insurance policies, either through an intermediary or direct selling.

The global whole life insurance market was valued at about $2600 billion in 2018 and is expected to grow to $3526.8 billion at a CAGR of 7.9% through 2022.

The rise in disposable income in emerging countries such as India and China is expected to drive the whole life insurance market. Economic growth in the middle income group translates to higher disposable income which allows them to invest in whole life insurance products. According to Swiss Re Institute’s sigma report, the seven largest emerging markets will contribute 42% of global growth with China contributing 27%. This rising disposable income, especially in emerging countries is expected to increase demand for whole life insurance plans driving market growth.

Lack of awareness about life insurance and complex insurance products are acting as a restraint on the whole life insurance market. A large number of people tend to invest in traditional investment instruments as they are unaware about the benefits of whole life insurance. According to a survey conducted by PHD Research Bureau in 2016, around 49% of the population in India is not familiar with insurance products and around 57% of the people find insurance products too complicated and difficult to understand. Thus, lack of awareness is acting as a restraint on the whole life insurance market.

Whole life insurance companies are increasingly investing in artificial intelligence and automation technologies for faster claims processing. Artificial intelligence (AI) is a simulation of human intelligence processes used by machines, commonly computer systems, to process and automate large amounts of data. Whole life insurance companies process large number of claims, customer queries and large amounts of diverse data that are being simplified using automation technologies. Artifical intelligence is being used by insurance companies to provide coverage personalization, and faster and customized claim settlement. For instance, major insurance companies such as AXA and Generali have invested in artificial intelligence and automation technologies to simplify business operations and enhance customer experience.

Life insurance companies are monitored by regulatory bodies such as the National Association of Insurance Commissioners (NAIC) in the USA and the Prudential Regulatory Authority (PRA)in the UK. For instance, insurance companies in the EU are required to follow the General Data Protection Regulation (GDPR) which creates guidelines on collecting and processing personal data of individuals within the EU. Life insurance companies can be fined upto 4% of their annual turnover for data violation. In case of a data breach, customers are required to be notified within 72 hours after the company is aware of the breach.

In 2018, Phonix Group acquired the entire life assurance buisnees of Standard Life Aberdeen for $3.2 billion. The deal is expected to strengthen long term partnership between the two companies and expand business.

Major players in the market are Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn
Note: Product cover images may vary from those shown
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  • Allianz
  • Assicurazioni Generali
  • China Life Insurance
  • MetLife
  • PingAn
  • AXA
  • CPIC
  • Aviva
  • Munich Re Group
  • Zurich Financial Services
  • Nippon Life Insurance
  • AIG
  • Prudential PLC
  • Japan Post Holdings
  • Berkshire Hathaway
  • Manulife Financial
  • Chubb
  • Allstate
  • Swiss RE
  • Prudential Financial
  • Travelers
  • AIA
  • Aflac
  • Legal & General
  • Sumitomo Life Insurance
  • Aegon
  • Dai-ichi Mutual Life Insurance
  • Gerber Life Insurance
Note: Product cover images may vary from those shown
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