The household life insurance and annuities assets in Finland have demonstrated a steady increase over the years with some fluctuations. In 2023, the value stood at 14.92 units. From 2018 to 2023, the year-on-year variation shows a consistent upward trend. The last two years, 2022 and 2023, experienced an average annual growth rate of approximately 2.6%. Looking at the longer term, from 2024 to 2028, the forecasted 5-year Compound Annual Growth Rate (CAGR) is 1.81%, predicting a total growth of 9.4% over these years.
Future trends to watch for:
- Market reactions to changes in global economic conditions which could impact investment returns and policyholder behavior.
- Regulatory changes that may affect the structure and benefits of life insurance and annuity products.
- Technological advancements in the insurance sector, promoting efficiency and personalized offerings.
- Demographic shifts, particularly an aging population, potentially increasing demand for annuities and life insurance.
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