Kathmandu. Recently, insurance has been expanding rapidly in the Asia Pacific region. The size of the global insurance market has also started to increase due to the strength of the Asia Pacific region.
Market Research Future has estimated that the global insurance market will be worth $1.87 trillion in the next 8 years. The size of the global insurance market is projected to increase at an annual growth rate of 8.8 percent from 2024 to 2032.
According to Market Research Future, the size of the global insurance market in 2023 is $856.76 billion. The market size is estimated to increase to $1.87 trillion from 2024 to 2032.
The size of the insurance market has also started to increase due to regulatory provisions, increasing business risks and increasing demand for insurance. The Asia Pacific region has played a significant role in the expansion of the insurance market.
Governments around the world have implemented strict regulatory regimes to expand access to insurance and bring timely insurance plans. Governments are also emphasizing the use of innovative technology and AI in the insurance sector. –Agency
