North America Life Insurance Market Summary, Competitive Analysis and Forecast to 2027

North America Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Life Insurance in North America industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key HighlightsThe value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.The North American life insurance market had total gross written premiums of $708.8 billion in 2022, representing a compound annual growth rate (CAGR) of 2.7% between 2017 and 2022.The Pension/Annuity segment accounted for market's the largest proportion in 2022, with total gross written premiums of $483.6 billion, equivalent to 68.2% of the market's overall value.Despite contracting by negative growth of 5.8% in 2019, the North American life insurance market experienced healthy growth in the historic period 2018 to 2022. According to the BLS (Bureau of Labour Statistics), 57% of employees in private industry had access to life insurance in March 2022. The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.4% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $880.9billion by the end of 2027.ScopeSave time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in North AmericaUse the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in North AmericaLeading company profiles reveal details of key life insurance market players’ global operations and financial performanceAdd weight to presentations and pitches by understanding the future growth prospects of the North America life insurance market with five year forecastsReasons to BuyWhat was the size of the North America life insurance market by value in 2022?What will be the size of the North America life insurance market in 2027?What factors are affecting the strength of competition in the North America life insurance market?How has the market performed over the last five years?What are the main segments that make up North America's life insurance market?