In 2023, the Gross Value Added (GVA) for Insurance, Reinsurance, and Pension Funding in the US was recorded at 435.68 billion USD. Moving into the forecasted period from 2024 to 2028, the GVA is expected to rise consistently from 446.42 billion USD in 2024 to 487.61 billion USD in 2028.
Year-on-year, the GVA is projected to increase:
- 2024: 2.46%
- 2025: 2.34%
- 2026: 2.26%
- 2027: 2.20%
- 2028: 2.12%
These values indicate an average compound annual growth rate (CAGR) of approximately 2.28% over the five years from 2024 to 2028.
Future trends to watch for include the impact of technology on underwriting processes, changing regulatory landscapes, increased integration of artificial intelligence, and shifting demographic trends affecting pension planning. Additionally, the economic implications of climate change on reinsurance will be significant factors influencing market dynamics.
