Life insurance - Statistics & Facts

Life insurance is a contract between a life insurance company and the insurance policy holder. It is a form of financial protection for the beneficiary of the insured person in case of death. The policy holder pays periodic amounts called premiums for the duration of the policy and upon death, the insurance company pays a specific sum of money to a designated beneficiary in form of income. The insurance policy can also cover other expenses related to burial and funeral. Payment from the policy can be a lump sum or an annuity, which is paid in regular installments for either a specified time or for the lifetime of the beneficiary.

In 2017, the United States was the leading life insurance premium writing country, with a total value of life direct premiums written amounting to 546.8 billion U.S. dollars. The second and third largest life insurance markets were the People's Republic of China and Japan, with life direct premiums written estimated at 317.57 billion U.S. dollars and 307.23 billion U.S. dollars respectively.

There were 797 life insurance companies in the United States in 2017, most of them categorized as “stock life insurance companies”, based on their organizational structure. In 2017, Prudential Financial was the largest life insurance company in the country in terms of assets. MetLife was the American insurer with most life insurance policies issued - approximately 267 billion U.S. dollars worth of policies in 2017 alone.

The life insurance market in Asia has rapidly grown over the past few years. In 2017, income from life insurance premiums in China reached 2.15 trillion yuan, more than double the premium income of 2012. Samsung was the largest life insurance company in South Korea in 2015.

Interesting statistics

In the following 5 chapters, you will quickly find the 33 most important statistics relating to "Life insurance worldwide".

Life insurance worldwide

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!

Important key figures

The most important key figures provide you with a compact summary of the topic of "Life insurance worldwide" and take you straight to the corresponding statistics.

U.S. companies

Consumer behavior

Interesting Statista reports

  • Statista Toplist
  • Statista Industry Report - NAICS Code 524

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