Global Insurance Market Could Double by 2035, If Forecasts Hold

The global insurance market is projected to grow from USD 9.54 trillion in 2025 to USD 19.77 trillion by 2035 at a 7.56% annual rate, though this forecast exceeds more conservative estimates based on premium volumes. Asia-Pacific is expected to lead growth in percentage terms, but North America, especially the US, will contribute the largest absolute premium increase. Key industry changes include digital distribution, embedded insurance, and AI underwriting, driven by a growing protection gap from climate, cyber, and retirement risks.