Analysis of the foreign-owned life insurers in the US shows a declining trend over the years. The sector value stood at 91 units in 2023, exhibiting a year-on-year decline of 1.09%. Looking back, from 2013 to 2023, we observe fluctuations with an overall downward trajectory. Notably, between 2015 and 2016, and again from 2015 to 2019, there were small but consistent declines. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was -0.65%.
Moving forward, forecast data suggests further declines, with the value expected to decrease to 88 units by 2028. The forecasted five-year CAGR is -0.67%, indicating an average annual contraction.
Future trends to watch for include regulatory changes, market consolidation, and shifts in consumer preferences towards digital and personalized insurance products. Monitoring these factors will be crucial for stakeholders within this industry.
