GlobalData Plc’s Post

New Zealand Life Insurance Market Outlook: Trends & Insights to 2029 The New Zealand life insurance market is poised for significant growth, with in-depth insights into key performance indicators like gross written premiums, market penetration, and ceded premiums. The latest GlobalData report provides a detailed analysis of the country's life insurance segment, covering product categories, distribution channels, and competitive dynamics. Gain a deeper understanding of New Zealand’s economic landscape, demographics, and the evolving regulatory environment. Stay ahead with a comprehensive overview of the market’s future trajectory and key opportunities! 🔍 Dive into this must-read report to unlock critical insights for your business strategy. https://lnkd.in/gHDBfAT3 #LifeInsurance #MarketTrends #InsuranceIndustry #NewZealand #BusinessOpportunities

The top trends in life insurance for this year include firms revamping customer journeys and updating systems to increase client retention. The predictions are made in CapGemini’s Top Trends 2025 – Life Insurance which also expects insurers will offer value-added services to the silver economy “…to enhance customer lifetime value and capitalise on aging demographics.” https://buff.ly/3CtKDfo #Silvereconomy #Riskinfo #CapGemini

I was reading through some industry news and it provoked some thoughts. You might think the headline portrays a healthy and growing life insurance industry in Canada, but I have some concerns. Digging into the report a few things become clear. Wealthy clients are buying more insurance - "The standout performer ...In the fourth quarter, whole life’s new annualized premiums were up 10 percent from the previous year, totaling $365m, with a 4 percent increase in policy count from the fourth quarter of 2022." That is great news for advisors like me that love working with high income and high net worth clients. but..."A closer look at the fourth quarter of 2023 reveals a 5 percent year-over-year increase in total life insurance new annualized premiums in Canada" and..."Additionally, the policy count in this period saw a 1 percent increase compared to the year before." Population growth in Canada was 3.2% in 2023. So a smaller percentage of the population is buying larger insurance policies. I'd assume this is another result of inflation right? Those having trouble making ends meet don't have room in the budget for insurance and those that have disposable income are insuring risks that are larger that they were last year. So if Canadians were underinsured in 2019 - about 90% were according to this research (https://lnkd.in/gKxmNfit) Then the issue is getting bigger not smaller. This industry needs growth and is probably ripe for disruption - it will be interesting to see where AI takes us. Until then, please make sure you and your clients are properly reviewing their risk management strategies and getting solid advice to protect their families and their wealth. #InsuranceInCanada #ProfessionalAdvice #LifeInsurance #InsuranceNews #YatesWhitakerPrivateWealth #WealthPlanning https://lnkd.in/gttkrW-J

ICMIF Supporting Member Peak Re has announced the key findings of its flagship 2024 Asia Middle-Class Consumer Survey. In the 2024 study, Peak Re focused on the role of family, the need for old age care, the rising importance of the women consumer groups, the importance of home insurance and consumers’ experience with #insurance claims. This is the third edition of the survey, and Peak Re says the report delves into the detailed dynamics of risk and insurance behaviour/preferences and it contains valuable insights for insurers who are looking to cater for this growing middle-class market. Franz-Josef Hahn, Peak Re’s Chief Executive Officer, said: “This survey underscores our commitment to bringing resilience and supporting economic growth for the middle class in emerging Asia. By helping the industry better understand their needs, we aim to provide innovative solutions and contribute to the sustainability of these communities and beyond.” #ConsumerSurvey #InsuranceIndustry #MarketInsights #AsiaMiddleClass #CommunitySupport Arina Tek Clarence Wong

Let’s take a moment to explore some history. Life insurance in Canada actually predates Confederation. The first policy was issued in 1847! Beyond offering a death benefit, these policies were seen as a secure way to store cash. During the roaring twenties and the Great Depression of the 1930s, life insurance became a popular savings tool. In fact, iconic personal development books like Napoleon Hill’s “Laws of Success in 16 Lessons” and Claude Bristol’s “Magic of Believing” highlight life insurance as a recommended savings strategy. If this approach was trusted during some of the most financially challenging times in North America’s history, isn’t it worth reconsidering today? If you’re curious about how this strategy can work for you, I’m here to help. Let’s connect! 🙏 #banking #taxfreeincome #realestate #taxes #highnetworth #help #lifeinsurance #wholelifeinsurance #infinitebanking #savingsvehicle #insurancepolicy

After a tough year in 2023, the #business performance of life #insurance companies has not yet recovered. #Vietnam #Lifeinsurance #Businessperformance #Healthinsurance #Agents #Advisors

MIB Group's Canadian insurance application activity figures for March 2024, as published in the monthly MIB Life Index, showed a flat growth rate of 0.4% when compared to March 2023. However, the full quarter activity increased by 5% year-to-date. The first quarter of 2024 also saw an 8.5% increase compared to the previous quarter, marking the second highest quarter-over-quarter growth rate since Q4 2016. Learn more about these findings here: Are you still waiting? Waiting on what? https://lnkd.in/eaVwqqsk . . #insurance #insuranceapplication #insuranceapplications #insurancefullquateractivity #insuranceactivities #canada #firstquaterof2024 #secondhighestquater #highestquater

𝐕𝐚𝐫𝐢𝐚𝐛𝐥𝐞 𝐋𝐢𝐟𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐. 𝐆𝐥𝐨𝐛𝐚𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 This comprehensive report provides both quantitative and qualitative aspects of the Variable Life Insurance Market, examining manufacturers, regional analysis, types, and applications. Our report dives deeply into the key metrics driving the Variable Life Insurance Market, offering detailed company profiles, product examples, and market share estimates for leading competitors in 2024. The study provides an in-depth analysis of regional dynamics, highlighting emerging trends across North America, Europe, APAC, Middle East Asia, and the Rest of the World. This report is an essential resource for businesses aiming to understand the competitive landscape and identify growth opportunities. Segment-wise growth calculations and forecasts for consumption value are presented for the period 2024-2032, aiding businesses in targeting specific and lucrative market niches for expansion of the Variable Life Insurance Market. 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐜𝐨𝐩𝐞 𝐚𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝 𝐨𝐟 𝐕𝐚𝐫𝐢𝐚𝐛𝐥𝐞 𝐋𝐢𝐟𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭. 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://lnkd.in/d6KqagBk ### By Type: - Whole Life Insurance - Universal Life Insurance ### By Application: - Individual - Corporate ### By Regions: - North America - Europe - APAC - Middle East Asia - Rest Of World ### By Key Players: MetLife, Prudential Financial, New York Life Insurance Company, Northwestern Mutual, AXA Investment Managers, AIG, MassMutual, Transamerica, Voya Financial, Principal Financial Group, Nationwide, Lincoln Financial Group, Allstate, Pacific Life, Guardian Life, State Farm, John Hancock, Zurich Insurance, Securian Financial, Brighthouse Financial , Allianz, Manulife, Sun Life Grepa Financial, Inc., Cigna Healthcare, TIAA, The Hartford, National American Insurance Company, Protective Life, Mutual of Omaha, Globe Life #variablelifeinsurance #insuranceindustry #financialplanning #lifeinsurance #marketresearch #businessgrowth #ict #marketanalysis #globalmarket #insurancetrends #innovation #sustainability #marketforecast #competitivelandscape #insuranceproducts #financialservices #investment #marketdynamics #businessstrategy #customerinsights #insurancepolicies

🔍 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐋𝐢𝐟𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐢𝐧 𝐂𝐚𝐧𝐚𝐝𝐚 🔍 A study by LIMRA and Life Happens reveals how financial priorities impact life insurance in Canada. 𝘒𝘦𝘺 𝘧𝘪𝘯𝘥𝘪𝘯𝘨𝘴 𝘣𝘦𝘭𝘰𝘸: 📈 57% 𝐨𝐟 𝐂𝐚𝐧𝐚𝐝𝐢𝐚𝐧 𝐀𝐝𝐮𝐥𝐭𝐬 𝐇𝐚𝐯𝐞 𝐋𝐢𝐟𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 (2023) - A 3-point increase from 2019. 🛑 31% 𝐒𝐭𝐢𝐥𝐥 𝐅𝐚𝐜𝐞 𝐚 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐆𝐚𝐩 - 8.4 million Canadians need—or need more—life insurance. 💰 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐇𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬 -40% say their families would face hardship within six months if the primary earner passed away unexpectedly. -Another 25% are unsure how long their families could remain financially stable. These findings underscore the importance of planning. Are your loved ones protected? 🤔 #LifeInsurance #FinancialSecurity #Canada

Gen Z, with their digital savvy and YOLO-FOMO lifestyle, often let these habits shape their financial decisions. While they aim to live life to the fullest quickly, it's crucial for them to start their financial planning early and consider insurance as it can provide the peace of mind needed for a secure future. Here's my take on why Gen Z should include insurance in their financial plans. #GenZ #FinancialPlanning #EarlyFinancialProtection #InsuranceAwareness #zindagiunlimited Edelweiss Life Insurance ETBFSI