The volume of premiums issued in life and non-life is down slightly for Africa (1.3%) over the period 2013 to 2017 (US $ 70.3 billion in 2013, US $ 66.7 billion in 2017 ): probably due to the fact that a lot of data were not available for some markets when compiling the figures in 2017. The global trend, for its part, is up 1.6% for the same period. period: US $ 4,593.6 billion in 2013 to US $ 4,891.7 billion in 2017. The relative share of African insurance worldwide is down 0.3 percentage points; from 1.5% in 2013 to 1.4% in 2017.
Asia will be the market with the highest demand for insurance with premiums expected to grow by almost 9% according to the latest Swiss Re study. China’s share of global insurance premiums, 9.7% in 2017, is expected to reach 16% in 2028. The growth rate of global insurance premiums, life and non-life insurance, is expected to reach 3% per year in 2019 and 2020, driven by improved technologies and digitalisation of data.
