Life insurance growth to outpace non-life segment in 2025 – Mapfre

Written by Michael Griffiths

19/09/2025

Growth in the life segment of the global insurance industry is expected to outpace the non-life segment in 2025, according to a new report from Mapfre.

The Spanish insurer’s projections for 2025 indicate an increase of 6.2% in the life segment and 5.2% in non-life, correlating with the performance of the global macroeconomic environment.

In its 2025 Economic and Industry Outlook report, Mapfre said the global insurance sector was continuing to display resilience despite economic and geopolitical uncertainty around the globe. Amid the ongoing crisis in the Middle East, a moderation of interest rates and trade uncertainty, among other issues, Mapfre stated that the insurance industry would “maintain its strength this year”.

Mapfre also said the performance of the main economies in the coming quarters would be “decisive for the evolution of the insurance market”, conditioning its growth and ability to adapt to a complex global economic environment.

The group’s research has forecast growth for the global economy of 2.9% this year, which is two-tenths higher than its forecasts from a few months ago.

“The life insurance segment will benefit from moderating inflation and improved financial profitability of the investment portfolios of the insurance companies,” Mapfre said. “However, a slight slowdown is expected next year to 6%.

“This adjustment would be a response to the persistence of geopolitical uncertainties and the evolution of economic policies in major economies – factors that directly influence the risk perception of economic agents and the dynamics of their insurance decisions.”

In the non-life segment, Mapfre has forecast premiums to grow by 5.3%, one tenth more than in 2025, with North America expected to be the main driver of global growth.

“In contrast, Europe and the UK are expected to see a decline in their share, reflecting a more moderate economic environment and structural challenges in the insurance sector in these regions,” Mapfre added.

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