In 2023, Denmark leads with 24.28% in life insurance and annuity entitlements as a percentage of total assets, followed by Israel and Germany with 14.98% and 14.36%, respectively. Notably, Belgium and Austria experienced significant declines of -7.99% and -10.92%, indicating a downward trend. Conversely, the United Kingdom and Brazil saw minor increases of 1.81% and 1.33%. The United States, despite its larger economy, reported a lower share at 5.04% with a -2.9% decline. Over the last five years, variations indicate fluctuating trends with some countries facing consistent downturns.
Looking forward, potential growth in the global share of life insurance and annuity entitlements is likely in emerging markets where penetration is yet to peak. The economic stability and regulatory changes will be key drivers in some countries like Brazil and Colombia, enhancing their growth potential. Continuous monitoring of major economies such as Germany and the United States is crucial to gauge the impact of economic oscillations on these entitlements.
Top countries in Share of Households and NPISHs’ Life Insurance and Annuity Entitlements by Country
| # | 10 Countries | Percent of Total Assests | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 24.28 | 2023 | +0.075% | -1.61% | View data |
| 2 | 2 Israel | 14.98 | 2023 | +2.12% | +1.41% | View data |
| 3 | 3 Germany | 14.36 | 2023 | -1.52% | -2.29% | View data |
| 4 | 4 Italy | 13.22 | 2023 | -9.6% | -4.38% | View data |
| 5 | 5 Ireland | 12.94 | 2023 | +0.073% | +1% | View data |
| 6 | 6 United Kingdom | 11.99 | 2023 | -0.81% | +1.81% | View data |
| 7 | 7 Chile | 10.88 | 2023 | -5.1% | -0.11% | View data |
| 8 | 8 Luxembourg | 9.74 | 2023 | +1.42% | -1.51% | View data |
| 9 | 9 Belgium | 9.18 | 2023 | -9.38% | -7.99% | View data |
| 10 | 10 Brazil | 8.76 | 2023 | +0.12% | +1.33% | View data |
