Global Equity Indexed Life Insurance Market Report 2023: Increasing Access to Insurance Products and Services Bolsters Growth - Insurance News | InsuranceNewsNet

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May 25, 2023 Newswires
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Global Equity Indexed Life Insurance Market Report 2023: Increasing Access to Insurance Products and Services Bolsters Growth

PR Newswire

DUBLIN, May 25, 2023 /PRNewswire/ -- The "Equity Indexed Life Insurance Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

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This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global equity indexed life insurance market is expected to grow from $3.35 billion in 2022 to $3.79 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The equity indexed life insurance market is expected to grow to $6.12 billion in 2027 at a CAGR of 12.8%.

Major players in the equity indexed life insurance market are AXA Equitable Life Insurance Co., Ping An Insurance Group Co., Swiss Reinsurance Co. Ltd., Prudential Financial Inc., American International Group Inc (AIG), AIA Group Ltd., Berkshire Hathaway Inc., MetLife Inc., Assicurazioni Generali SpA, Zurich Insurance Group AG, Munich Reinsurance America Inc., Chubb Limited, Allstate Insurance Company, Aviva Plc., Manulife Financial Corp., CPIC Fund Management Co. Ltd., and Aflac Inc.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
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  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Equity-indexed life insurance is a type of permanent life insurance that is linked to a stock market index for investment purposes. It is more technical than other types of permanent life insurance plans, and prospective investors may want to understand how it works before committing to it.

The major types of equity indexed life insurance are whole life insurance, universal life insurance, variable universal life insurance, indexed universal life insurance, and others. Whole life insurance refers to a kind of permanent life insurance that has a savings component that builds cash value. The two major modes are online and offline. It is sold through several distribution channels such as agencies, brokers, bancassurance, and digital and indirect channels.

Product innovations are a key trend gaining popularity in the equity-indexed life insurance market. Major companies operating in the equity-indexed life insurance market are focused on developing innovative solutions to strengthen their position in the market.

In July 2022, Chubb Limited, a Switzerland-based provider of insurance-related products and services, acquired health and life insurance business of Cigna Corp. for $5.36 billion. This acquisition helps Chubb by increasing its footprint in the Asia-Pacific region. Cigna Corporation is a US-based healthcare and insurance company operating in equity-indexed life insurance.

North America was the largest region in the equity indexed life insurance market in 2022. The regions covered in the equity indexed life insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the equity indexed life insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Increasing access to insurance products and services is expected to propel the growth of the equity indexed life insurance market. Insurance product or service denotes any service or product provided by a license holder in accordance with the insurance laws of the state or a federal insurance program. Insurance accessibility has become more convenient in recent years, with increasing online sales of life and health insurance.

Moreover, the equity indexed life insurance is gaining popularity because it typically has cheaper premiums than comparable whole life insurance policies.

For instance, in January 2022, according to the Insurance Information Institute, a US-based data-driven insurance industry group, property or casualty (P or C) insurer replacement costs are expected to rise between 4.5% and 6.5% year on year in 2023.

Furthermore, in December 2022, according to the National Association of Insurance Commissioners (NAIC), a US-based insurance regulatory organization, the insurance market for 2021 climbed 2.7% to $29.8 billion and total premium collected nationally across all lines of business was $2.9 trillion, reflecting an 8.2% growth from 2020. Therefore, the increasing access to insurance products and services is driving the equity indexed life insurance market.

The equity-indexed life insurance market includes revenues earned by entities by providing equity-indexed life insurance policies with coverage for death benefits, debts, lost income, educational finance, and medical expenses. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary

2. Equity Indexed Life Insurance Market Characteristics

3. Equity Indexed Life Insurance Market Trends And Strategies

4. Equity Indexed Life Insurance Market - Macro Economic Scenario
4.1. COVID-19 Impact On Equity Indexed Life Insurance Market
4.2. Ukraine-Russia War Impact On Equity Indexed Life Insurance Market
4.3. Impact Of High Inflation On Equity Indexed Life Insurance Market

5. Equity Indexed Life Insurance Market Size And Growth
5.1. Global Equity Indexed Life Insurance Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Equity Indexed Life Insurance Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Equity Indexed Life Insurance Market Segmentation
6.1. Global Equity Indexed Life Insurance Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Whole life insurance
  • Universal life insurance
  • Variable Universal Life Insurance
  • Indexed Universal Life Insurance
  • Other Types

6.2. Global Equity Indexed Life Insurance Market, Segmentation By Mode, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Online
  • Offline

6.3. Global Equity Indexed Life Insurance Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Agency
  • Brokers
  • Bancassurance
  • Digital And Indirect Channels

7. Equity Indexed Life Insurance Market Regional And Country Analysis
7.1. Global Equity Indexed Life Insurance Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Equity Indexed Life Insurance Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/zapy94

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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