Uncertainties are increasing, the need for insurance is growing

Demand for protection is expected to continue strongly in the coming period due to geopolitical risks, climate-related threats, increase in health expenditures and the impact of the aging population. Allianz Research predicts that the global insurance industry will grow by an average of 5.3 percent annually in the next 10 years.

The Allianz Global Insurance Report 2026 prepared by Allianz Research reveals that the insurance industry continues to grow strongly on a global scale. According to the report, the sector will reach a total size of 6.9 trillion euros in 2025, with an additional premium production of 456 billion euros. Although the growth rate remained below the previous year's extraordinary performance of 9.4 percent, it was above the last 10-year average, showing that the demand for insurance maintained its strength.

Life insurance maintains its leadership

According to the report, life insurance continues to be the largest segment of the sector with premium production of 2.86 trillion euros, while elementary insurances follow with 2.32 trillion euros and health insurance with 1.69 trillion euros. While life insurance grew by 6.9 percent in 2025, health insurance continued to grow on a global scale. Especially Asian markets have been among the important drivers of growth in both life and health insurance.

Insurance companies need to build more resilient models

According to the report, geopolitical developments and fragmentation are becoming the main forces shaping the insurance industry. A more fragmented global economy is making risk environments more complex, challenging cross-border business models and weakening traditional diversification (risk distribution) advantages. At the same time, fragmentation; It also creates new growth opportunities by increasing demand for protection, resilience and private risk transfer in areas such as infrastructure, energy security and political risk insurance. Insurance companies; It will need to adapt to this situation by building regionally more resilient operational models, integrating geopolitical analyzes directly into risk acceptance (underwriting) and capital allocation processes, and developing products specific to emerging risks.

The future of the insurance industry is shaped by health and demographic transformation

According to Allianz Research, the fastest growing branch in the next 10 years will be health insurance. The increase in health expenditures, the aging population and individuals' search for long-term financial security will continue to increase the demand for health and life insurance. The report points out that especially preparation for retirement and longevity risks will play a decisive role in the growth of the insurance industry.

An annual growth rate of over 5 percent is expected in the next 10 years.

According to the report, the global insurance industry is expected to grow an average of 5.3 percent annually in the next 10 years. An average annual growth of 4.7 percent is expected in the primary insurance branch, 4.9 percent in life insurance and 6.7 percent in health insurance. Allianz Research emphasizes that the increasing need for protection will continue to make the insurance sector one of the most stable growth areas of the global economy.

See the full Allianz Global Insurance Report 2026 here.