Introduction to the Insurance Industry, Business and Industry Trends Analysis

¹ Video Tip For our brief video introduction to the Insurance industry, see www.plunkettresearch.com/video/insurance.   Insurance and risk management make up an immense global industry.  According to a survey conducted by a leading global insurance firm, Swiss Re, worldwide insurance premiums totaled $6.29 trillion in 2019 (the latest data available).  This was equal to about 7.2% of global GDP.  Global life insurance premiums were $2.92 trillion during 2019, while all other types of insurance totaled $3.37 trillion. In America alone, the insurance business employed about 2.82 million people in July 2020.  Gross life and accident & health insurance premiums in…

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