The turnover of non-life insurance in Sweden has experienced fluctuations over the past decade. In 2023, the turnover stood at 11.63 billion Euros, representing a modest year-on-year increase of 1.07%. Over the last five years, the average annual growth rate, or CAGR, has been slightly negative at -0.12%, indicating a relatively stable market with minimal growth.
Looking at forecast trends from 2024 to 2028, the market is expected to grow at a stable rate, with a 5-year CAGR of 0.86%, resulting in an overall growth of 4.39% by 2028. Key points to consider are:
- 11.63 billion Euros turnover in 2023
- 1.07% year-on-year growth in 2023
- -0.12% CAGR over the last five years
- Forecasted 5-year CAGR of 0.86%
- Expected 4.39% growth by 2028
Future trends to watch for include potential market expansion through technological innovations, regulatory changes, and evolving consumer needs, which might influence the growth trajectory moving forward. Monitoring these elements will be crucial in anticipating adjustments in the non-life insurance market.
