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Life insurance & Pension North America (NAFTA) Industry Guide 2020-2029

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    Report

  • 322 Pages
  • December 2025
  • Region: North America
  • MarketLine
  • ID: 6041162
The NAFTA Life Insurance & Pension industry profile provides top-line qualitative and quantitative summary information including: market size (value, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

  • The North American Free Trade Agreement (NAFTA) is a trade agreement between the countries in North America: the US, Canada and Mexico. The life insurance & pension industry within the NAFTA countries had a total market value of $821.2 billion in 2024.The Mexico was the fastest growing country, with a CAGR of 11.7% over the 2020-24 period.
  • Within the life insurance & pension industry, the US is the leading country among the NAFTA bloc, with market revenues of $735.6 billion in 2024. This was followed by Canada and Mexico, with a value of $65.7 and $19.9 billion, respectively.
  • The US is expected to lead the life insurance & pension industry in the NAFTA bloc, with a value of $1.02 trillion in 2029, followed by Canada and Mexico with expected values of $89.3 and $26.0 billion, respectively.

Report Scope

  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the NAFTA life insurance & pension market
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the NAFTA life insurance & pension market
  • Leading company profiles reveal details of key life insurance & pension market players’ NAFTA operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the NAFTA life insurance & pension market with five year forecasts
  • Compares data from the US, Canada and Mexico, alongside individual chapters on each country

Reasons to Buy

  • What was the size of the NAFTA life insurance & pension market by value in 2024?
  • What will be the size of the NAFTA life insurance & pension market in 2029?
  • What factors are affecting the strength of competition in the NAFTA life insurance & pension market?
  • How has the market performed over the last five years?
  • What are the main segments that make up the NAFTA life insurance & pension market?

Table of Contents

1 Introduction
1.1. What is this report about?
1.2. Who is the target reader?
1.3. How to use this report
1.4. Definitions
2 NAFTA Life Insurance & Pension
2.1. Industry Outlook
3 Life Insurance & Pension in Canada
3.1. Market Overview
3.2. Market Data
3.3. Market Segmentation
3.4. Market outlook
3.5. Five forces analysis
4 Macroeconomic Indicators
4.1. Country data
5 Life Insurance & Pension in Mexico
5.1. Market Overview
5.2. Market Data
5.3. Market Segmentation
5.4. Market outlook
5.5. Five forces analysis
6 Macroeconomic Indicators
6.1. Country data
7 Life Insurance & Pension in The United States
7.1. Market Overview
7.2. Market Data
7.3. Market Segmentation
7.4. Market outlook
7.5. Five forces analysis
8 Macroeconomic Indicators
8.1. Country data
9 Company Profiles
9.1. New York Life Insurance Co
9.2. Globe Life Inc
9.3. BNP Paribas Cardif
9.4. CNP Assurances SA
9.5. Confederation Nationale du Credit Mutuel
9.6. Credit Agricole SA
9.7. R+V Versicherung AG
9.8. Zurich Insurance Group Ltd
9.9. Allianz SE
9.10. Assicurazioni Generali SpA
9.11. Intesa Sanpaolo SpA
9.12. Poste Vita SpA
9.13. Nippon Life Insurance Co
9.14. Tokio Marine Holdings Inc
9.15. Dai-ichi Life Holdings Inc
9.16. MS&AD Insurance Group Holdings, Inc.
9.17. Rosgosstrakh
9.18. Sberbank Life Insurance
9.19. Renaissance Life Insurance Company Russia
9.20. Alfa Strakhovanie -Life LLC
9.21. Scottish Widows Services Limited
9.22. Legal & General Assurance Society Limited
9.23. Rothesay Life Plc
9.24. Aviva Plc
9.25. Metropolitan Insurance Group Inc
9.26. The Northwestern Mutual Life Insurance Co
9.27. Knights of Columbus
9.28. Grupo Nacional Provincial SAB
9.29. MetLife Inc
9.30. Grupo Financiero Banorte SAB de CV
9.31. BBVA
9.32. Prudential Financial Inc
9.33. Hollard Insurance Group
9.34. Guardrisk Insurance Company Ltd
9.35. Old Mutual Life Assurance Company (South Africa) Limited
9.36. Liberty Group Ltd
9.37. Brasilprev Seguros e Previdencia SA
9.38. CaixaBank SA
9.39. Banco Bradesco SA
9.40. China Pacific Life Insurance Co Ltd
9.41. KGI Life Insurance Co Ltd
9.42. Taikang Insurance Group
9.43. Ping An Insurance (Group) Company of China Ltd
9.44. HDFC Life Insurance Co Ltd
9.45. ICICI Prudential Life Insurance Co Ltd
9.46. SBI Life Insurance Co Ltd
9.47. Nan Shan Life Insurance Co Ltd
9.48. Fubon Life Insurance Co., Ltd
9.49. The Great Eastern Life Assurance Company Ltd
9.50. Nordea Life Assurance Finland Ltd
9.51. Mandatum Life Insurance Co Ltd
9.52. LocalTapiola Mutual Life Insurance Company
9.53. OP Life Assurance Company ltd
9.54. PT Axa Mandiri Financial Services
9.55. PT Paninvest Tbk
9.56. PT Panin Financial Tbk
9.57. SRLEV N.V.
9.58. ASR Nederland NV
9.59. Dela Cooperatie
9.60. Aegon Ltd
9.61. Nordea Liv
9.62. DNB Livsforsikring ASA
9.63. Kommunal Landspensjonskasse
9.64. Manulife (Singapore) Pte Ltd
9.65. AIA Group Ltd
9.66. Prudential Plc
9.67. Kyobo Life Insurance Co Ltd
9.68. Hanwha Life Insurance Co Ltd
9.69. KB Financial Group Inc
9.70. Samsung Life Insurance Co Ltd
9.71. Santander Seguros y Reaseguros, Compania Aseguradora SA
9.72. VidaCaixa, S.A.U. de Seguros y Reaseguros
9.73. Mapfre SA
9.74. Folksam
9.75. Alecta Pensionsforsakring Omsesidigt
9.76. Skandinaviska Enskilda Banken AB
9.77. Avanza Bank Holding AB
9.78. Turkiye Hayat Ve Emeklilik AS
9.79. AgeSA Hayat ve Emeklilik AS
9.80. Anadolu Hayat Emeklilik AS
9.81. Zurich Australia Ltd
9.82. MLC Ltd
9.83. TAL Dai-ichi Life Australia Pty Ltd
9.84. PFA Pension Forsikringsaktieselskab
9.85. AP Pension Livsforsikringsaktieselskab
9.86. Velliv, Pension & Livsforsikring A/S
9.87. Danica Pension AS
10 Appendix
10.1. Methodology
10.2. About the Publisher
List of Tables
Table 1: NAFTA countries life insurance & pension industry, revenue ($bn), 2020-29
Table 2: NAFTA countries life insurance & pension industry, revenue ($bn), 2020-24
Table 3: NAFTA countries life insurance & pension industry forecast, revenue ($bn), 2024-29
Table 4: Canada life insurance & pension market value: $ billion, 2019-24
Table 5: Canada life insurance & pension market category segmentation: % share, by value, 2019-24
Table 6: Canada life insurance & pension market category segmentation: $ billion, 2019-24
Table 7: Canada life insurance & pension market geography segmentation: $ billion, 2024
Table 8: Canada life insurance & pension market share: % share, by value, 2024
Table 9: Canada life insurance & pension market value forecast: $ billion, 2024-29
Table 10: Canada Size of Population (Million), 2020-24
Table 11: Canada Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 12: Canada GDP (Current Prices, $ Billion), 2020-24
Table 13: Canada Inflation, 2020-24
Table 14: Canada Consumer Price Index (Absolute), 2020-24
Table 15: Canada Exchange Rate, 2019-24
Table 16: Mexico life insurance & pension market value: $ billion, 2019-24
Table 17: Mexico life insurance & pension market category segmentation: % share, by value, 2019-24
Table 18: Mexico life insurance & pension market category segmentation: $ billion, 2019-24
Table 19: Mexico life insurance & pension market geography segmentation: $ billion, 2024
Table 20: Mexico life insurance & pension market share: % share, by value, 2024
Table 21: Mexico life insurance & pension market value forecast: $ billion, 2024-29
Table 22: Mexico Size of Population (Million), 2020-24
Table 23: Mexico Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 24: Mexico GDP (Current Prices, $ Billion), 2020-24
Table 25: Mexico Inflation, 2020-24
Table 26: Mexico Consumer Price Index (Absolute), 2020-24
Table 27: Mexico Exchange Rate, 2019-24
Table 28: United States life insurance & pension market value: $ billion, 2019-24
Table 29: United States life insurance & pension market category segmentation: % share, by value, 2019-24
Table 30: United States life insurance & pension market category segmentation: $ billion, 2019-24
Table 31: United States life insurance & pension market geography segmentation: $ billion, 2024
Table 32: United States life insurance & pension market share: % share, by value, 2024
Table 33: United States life insurance & pension market value forecast: $ billion, 2024-29
Table 34: United States Size of Population (Million), 2020-24
Table 35: United States Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 36: United States GDP (Current Prices, $ Billion), 2020-24
Table 37: United States Inflation, 2020-24
Table 38: United States Consumer Price Index (Absolute), 2020-24
Table 39: United States Exchange Rate, 2019-24
List of Figures
Figure 1: NAFTA countries life insurance & pension industry, revenue ($bn), 2020-29
Figure 2: NAFTA countries life insurance & pension industry, revenue ($bn), 2020-24
Figure 3: NAFTA countries life insurance & pension industry forecast, revenue ($bn), 2024-29
Figure 4: Canada life insurance & pension market value: $ billion, 2019-24
Figure 5: Canada life insurance & pension market category segmentation: $ billion, 2019-24
Figure 6: Canada life insurance & pension market geography segmentation: % share, by value, 2024
Figure 7: Canada life insurance & pension market share: % share, by value, 2024
Figure 8: Canada life insurance & pension market value forecast: $ billion, 2024-29
Figure 9: Forces driving competition in the life insurance & pension market in Canada, 2024
Figure 10: Drivers of buyer power in the life insurance & pension market in Canada, 2024
Figure 11: Drivers of supplier power in the life insurance & pension market in Canada, 2024
Figure 12: Factors influencing the likelihood of new entrants in the life insurance & pension market in Canada, 2024
Figure 13: Factors influencing the threat of substitutes in the life insurance & pension market in Canada, 2024
Figure 14: Drivers of degree of rivalry in the life insurance & pension market in Canada, 2024
Figure 15: Mexico life insurance & pension market value: $ billion, 2019-24
Figure 16: Mexico life insurance & pension market category segmentation: $ billion, 2019-24
Figure 17: Mexico life insurance & pension market geography segmentation: % share, by value, 2024
Figure 18: Mexico life insurance & pension market share: % share, by value, 2024
Figure 19: Mexico life insurance & pension market value forecast: $ billion, 2024-29
Figure 20: Forces driving competition in the life insurance & pension market in Mexico, 2024
Figure 21: Drivers of buyer power in the life insurance & pension market in Mexico, 2024
Figure 22: Drivers of supplier power in the life insurance & pension market in Mexico, 2024
Figure 23: Factors influencing the likelihood of new entrants in the life insurance & pension market in Mexico, 2024
Figure 24: Factors influencing the threat of substitutes in the life insurance & pension market in Mexico, 2024
Figure 25: Drivers of degree of rivalry in the life insurance & pension market in Mexico, 2024
Figure 26: United States life insurance & pension market value: $ billion, 2019-24
Figure 27: United States life insurance & pension market category segmentation: $ billion, 2019-24
Figure 28: United States life insurance & pension market geography segmentation: % share, by value, 2024
Figure 29: United States life insurance & pension market share: % share, by value, 2024
Figure 30: United States life insurance & pension market value forecast: $ billion, 2024-29
Figure 31: Forces driving competition in the life insurance & pension market in the United States, 2024
Figure 32: Drivers of buyer power in the life insurance & pension market in the United States, 2024
Figure 33: Drivers of supplier power in the life insurance & pension market in the United States, 2024
Figure 34: Factors influencing the likelihood of new entrants in the life insurance & pension market in the United States, 2024
Figure 35: Factors influencing the threat of substitutes in the life insurance & pension market in the United States, 2024
Figure 36: Drivers of degree of rivalry in the life insurance & pension market in the United States, 2024

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Aegon Ltd
  • AgeSA Hayat ve Emeklilik AS
  • AIA Group Ltd
  • Alecta Pensionsforsakring Omsesidigt
  • Alfa Strakhovanie -Life LLC
  • Allianz SE
  • Anadolu Hayat Emeklilik AS
  • AP Pension Livsforsikringsaktieselskab
  • ASR Nederland NV
  • Assicurazioni Generali SpA
  • Avanza Bank Holding AB
  • Aviva Plc
  • Banco Bradesco SA
  • BBVA
  • BNP Paribas Cardif
  • Brasilprev Seguros e Previdencia SA
  • CaixaBank SA
  • China Pacific Life Insurance Co Ltd
  • CNP Assurances SA
  • Confederation Nationale du Credit Mutuel
  • Credit Agricole SA
  • Dai-ichi Life Holdings Inc
  • Danica Pension AS
  • Dela Cooperatie
  • DNB Livsforsikring ASA
  • Folksam
  • Fubon Life Insurance Co., Ltd
  • Globe Life Inc
  • Grupo Financiero Banorte SAB de CV
  • Grupo Nacional Provincial SAB
  • Guardrisk Insurance Company Ltd
  • Hanwha Life Insurance Co Ltd
  • HDFC Life Insurance Co Ltd
  • Hollard Insurance Group
  • ICICI Prudential Life Insurance Co Ltd
  • Intesa Sanpaolo SpA
  • KB Financial Group Inc
  • KGI Life Insurance Co Ltd
  • Knights of Columbus
  • Kommunal Landspensjonskasse
  • Kyobo Life Insurance Co Ltd
  • Legal & General Assurance Society Limited
  • Liberty Group Ltd
  • LocalTapiola Mutual Life Insurance Company
  • Mandatum Life Insurance Co Ltd
  • Manulife (Singapore) Pte Ltd
  • Mapfre SA
  • MetLife Inc
  • Metropolitan Insurance Group Inc
  • MLC Ltd
  • MS&AD Insurance Group Holdings, Inc.
  • Nan Shan Life Insurance Co Ltd
  • New York Life Insurance Co
  • Nippon Life Insurance Co
  • Nordea Life Assurance Finland Ltd
  • Nordea Liv
  • Old Mutual Life Assurance Company (South Africa) Limited
  • OP Life Assurance Company ltd
  • PFA Pension Forsikringsaktieselskab
  • Ping An Insurance (Group) Company of China Ltd
  • Poste Vita SpA
  • Prudential Financial Inc
  • Prudential Plc
  • PT Axa Mandiri Financial Services
  • PT Panin Financial Tbk
  • PT Paninvest Tbk
  • R+V Versicherung AG
  • Renaissance Life Insurance Company Russia
  • Rosgosstrakh
  • Rothesay Life Plc
  • Samsung Life Insurance Co Ltd
  • Santander Seguros y Reaseguros, Compania Aseguradora SA
  • Sberbank Life Insurance
  • SBI Life Insurance Co Ltd
  • Scottish Widows Services Limited
  • Skandinaviska Enskilda Banken AB
  • SRLEV N.V.
  • Taikang Insurance Group
  • TAL Dai-ichi Life Australia Pty Ltd
  • The Great Eastern Life Assurance Company Ltd
  • The Northwestern Mutual Life Insurance Co
  • Tokio Marine Holdings Inc
  • Turkiye Hayat Ve Emeklilik AS
  • Velliv, Pension & Livsforsikring A/S
  • VidaCaixa, S.A.U. de Seguros y Reaseguros
  • Zurich Australia Ltd
  • Zurich Insurance Group Ltd