The Gross Premium Income of Life Insurance in Sweden has shown a general decline since 2013. In 2023, it stood at 22.4 Billion US Dollars. Observing year-on-year variations, there were significant drops in 2015 (-6.38%) and 2020 (-6.6%). Notably, a small uptick occurred in 2022 (+3.44%), reversing a longer trend of annual decreases. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged -1.53%. Forecasts suggest a continued decline with a five-year CAGR projected at -1.34% from 2024 to 2028. By 2028, the income is expected to reach 20.49 Billion US Dollars, marking a -6.54% drop from 2023.
Future trends to watch for:
- Changes in demographic factors impacting life insurance demands.
- Technological advancements influencing policy structures and efficiencies.
- Regulatory changes possibly affecting market dynamics.
- Economic conditions and their impact on consumer spending on life insurance.
