Kathmandu. The global commercial insurance market is expected to grow by 7.9 percent annually. This estimate is made until 2030.
According to a new analysis by MarkAntel Advisors, the global commercial insurance market, valued at $1.2 billion in 2023, is expected to reach about $1.89 billion by 2030. From 2024 to 2030, it will achieve an annual growth rate of 7.9 percent.
This increase will be due to increased risk awareness, improvement in regulatory provisions and rapid adoption of insurance technology. The demand for this insurance is also increasing as businesses face increasing risks of cyber attacks, climate risks and geopolitical uncertainty.
North America currently has the largest market share due to advanced regulations and digital adoption. While the Asia Pacific region is expected to sustain the fastest growth led by China, India and Southeast Asia.
Europe’s market is being shaped by strong climate risks and ESG mandates. While South America and the Middle East and Africa are seeing a growing demand linked to infrastructure expansion and economic reform.
Liability insurance is set to play a leading role in this sector, driven by regulatory orders and industry demand, especially in healthcare, food, chemicals and construction sectors. Large enterprises are major insurance buyers. However, the demand for insurance from small and medium enterprises is expected to increase.
