The global group life insurance market is projected to grow from $132.3 billion in 2024 to $146.27 billion in 2025, representing a compound annual growth rate (CAGR) of 10.6%.
According to the Business Research Company, the market is expected to reach $216.48 billion by 2029, at a CAGR of 10.3%.
Historically, growth has been driven by rising employment, evolving corporate benefits, regulatory changes, and demographic trends, including aging populations.
Future expansion is expected to be supported by longer lifespans, increased demand for financial security products, growth in the global workforce, and rising healthcare costs. Technological advancements, AI integration, digital transformation, and personalized product offerings are also expected to shape the market.
In 2024, North America led the group life insurance market, while the Asia-Pacific region is forecast to be the fastest-growing area in the coming years.
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