US insurance premiums to hit $4.5trn by 2029

Written by Adam Cadle

30/05/2025

US insurance premiums are to hit $4.5trn by 2029, double the combined total of China, the UK, Germany, and India, new data published by Stocklytics.com has revealed.

Stocklytics.com said the main reasons are that the US healthcare system is mainly private and insurance-driven, leading to much higher per capita spending than other countries. High levels of wealth have also been a major driver behind insurance growth, with individuals and businesses regularly buying different types of policies. As a result, the US has grown into a country with one of the highest insurance penetration rates globally and much higher insurance spending than any other country.

Last year, the total gross written premium in the US insurance market amounted to $3.78trn; a figure projected to increase to $3.93trn this year.

According to Statista market projections, the US will account for 47% of global insurance premiums in 2025. China, the second-largest insurance market, follows with a 12% share.

Related Articles