Press release
Annuity Insurance Market Landscape 2025: Forecast Data and Growth Strategy Insights
Annuity Insurance Market
What Is the Expected CAGR for the Annuity Insurance Market Through 2025?
Recent years have seen a robust expansion of the annuity insurance market. From 2024 to 2025, it is projected to rise from $990.4 billion to $1050.84 billion, tracking a compound annual growth rate (CAGR) of 6.1%. Factors such as increased digitalization, minimized operational and administrative expenses, hefty insurance premium discounts, extensive internet use, and the transition from traditional to annuity insurance services have all contributed to the growth experienced in the historic period.
What's the Projected Size of the Global Annuity Insurance Market by 2029?
Strong expansion is predicted for the annuity insurance market in the coming years, with a predicted size of $1313.46 billion in 2029, reflecting a compound annual growth rate (CAGR) of 5.7%. Factors contributing to this projected growth include a rise in mobile usage, continued increase in internet use, growing trend of buying insurance, increased purchases of insurance through online channels, improved convenience and accessibility in buying insurance, and heightened public awareness about the advantages of having health insurance. Key trends for the forecast period encompass enhanced adoption of Internet of Things technology, consumer demand for personalized insurance products, emergence of mobile apps and AI technologies, a shift in insurance companies' approach towards consumer-focused strategies from a product-centric approach, and the incorporation of InsurTech.
View the full report here:
https://www.thebusinessresearchcompany.com/report/annuity-insurance-global-market-report
Top Growth Drivers in the Annuity Insurance Industry: What's Accelerating the Market?
The increasing number of individuals in need of retirement income solutions is anticipated to bolster the expansion of the annuity insurance market in the future. These solutions are financial products, strategies, and schemes meant to ensure a steady and enduring income stream during an individual's retirement years, thus guaranteeing financial stability and peace of mind. Annuity insurance converts a one-time payment into regular income for a specific timeframe, enhancing financial security and reducing the risk of a financial crisis. As an example, a survey of 1,503 participants for Asset Management 2024 Defined Contribution (DC) by U.S.-based investment bank J.P. Morgan found that guaranteed income options were desirable. Furthermore, 72% believed their workplace retirement plan was crucial to their household's financial health perception, and 85% considered retirement benefits as an important factor in deciding whether to remain with a current employer or seek a new job opportunity. Therefore, the rising number of individuals in need of retirement income solutions is pushing the growth of the annuity insurance market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=18223&type=smp
What Trends Will Shape the Annuity Insurance Market Through 2029 and Beyond?
Leading businesses in the annuity insurance market are giving importance to product enhancements in order to serve the varied needs of their customers, who may be looking for individual or group general annuity savings plans. These savings plans offer a range of premium payment models, such as single premium, limited premium payment terms, and regular premium payments. For example, in January 2024, the Max Life Insurance Company Limited, based in India, introduced the 'Smart Wealth Annuity Guaranteed Pension Plan' (SWAG Pension Plan). This plan, which is not linked or participating and can be applied to individual or group general annuity savings, gives customers the ability to customize their policies by choosing different annuity options and 'Return of Premium' options. The initiative's goal is to assist people in preparing for retirement by offering customizable features and versions. Key elements of the plan include a variety of annuity and 'Return of Premium' options, depending on the policy's terms and conditions.
What Are the Main Segments in the Annuity Insurance Market?
The annuity insurance market covered in this report is segmented -
1) By Type: Fixed Annuity Insurance, Variable Annuity Insurance, Indexed Annuity Insurance, Other Types
2) By Application: Financial, Manufacturing, Industrial, Travel And Hospitality, Other Applications
3) By Distribution Channel: Insurance Agencies And Brokers, Banks, Other Distribution Channels
Subsegments:
1) By Fixed Annuity Insurance: Immediate Fixed Annuity, Deferred Fixed Annuity
2) By Variable Annuity Insurance: Equity-Linked Variable Annuity, Bond-Linked Variable Annuity, Balanced Variable Annuity
3) By Indexed Annuity Insurance: Fixed Indexed Annuity, Equity Indexed Annuity
4) By Other Types: Longevity Annuity, Multi-Year Guarantee Annuity (MYGA), Structured Settlement Annuity
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=18223&type=smp
Which Top Companies are Driving Growth in the Annuity Insurance Market?
Major companies operating in the annuity insurance market are China Ping An Insurance (Group) Co. Ltd., Allianz SE, China Life Insurance Company, Axa S.A., The Dai-ichi Life Insurance Company Limited, MetLife Services and Solutions LLC, China Pacific Insurance Co. Ltd., Nationwide Mutual Insurance Company, American International Group Inc., Allstate Insurance Company, Zurich Insurance Group Ltd., Sumitomo Life Insurance Company, Aviva PLC, Aegon Life Insurance Company, SBI Life Insurance Co. Ltd., Pacific Life Insurance Company, Bright House Financial Inc., Transamerica Corporation, Voya Financial Inc., Globe Life Inc., Symetra Life Insurance Company, Reliance Nippon Life Insurance Company Limited, Protective Insurance Corporation, Assurity Life Insurance, Colonial Penn Life Insurance Company, Gerber Life Insurance Company, HDFC Standard Life Insurance Company Limited, Assicurazioni Generali SpA
Which Regions Will Dominate the Annuity Insurance Market Through 2029?
North America was the largest region in the annuity insurance market in 2024. The regions covered in the annuity insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18223
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Annuity Insurance Market Landscape 2025: Forecast Data and Growth Strategy Insights here
News-ID: 4129628 • Views: …
More Releases from The Business Research Company
Technological Advancements With App Based Subscription Programs Industry Trends …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Car Washing Service Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the car washing service market size has been expanding at a consistent rate. It is projected that from $30.1 billion in 2024, it will surge to $30.75 billion in 2025, with…
Major Growth Driver Identified in 2025 Well Intervention Market: Rising Energy D …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Well Intervention Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the well intervention market has seen consistent growth over the past few years. The market, which will increase from $9.39 billion in 2024 to $9.84 billion in 2025 at a compound annual…
Growing E-Commerce Sector Fuels Demand For Telephone Call Centers: Critical Driv …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Telephone Call Centers Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for telephone call centers has seen a slight rise in recent years. The market value is predicted to increase from $136.61 billion in 2024 to $138.62 billion in 2025, maintaining a compound…
Private Household Services Market Expansion Continues, with Forecast Valuation o …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Private Household Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been a significant expansion in the private household services market size in the past few years. This market will see an escalation from $321.58 billion in 2024 to $351.99 billion in 2025,…
More Releases for Insurance
Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying…
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
