APAC holds nearly a fifth of top insurers with 85.8% premium share

The data spans the years 2019 to 2023.

The top 300 insurer groups worldwide collectively represented 85.8% of the total global gross direct premiums written (GDPW) for property and casualty (P&C) insurance, according to Insuramore.

Of the total insurers, 18.7% are from Asia Pacific/Australasia. Insuramore’s data spans the years 2019 to 2023.

China-based People's Insurance Company of China (PICC) ranked fifth globally, and the only Asia-based insurer in Insuramore’s top 10 list. Its compound annual growth rate from 2019 to 2023 stood at 4.1% with a global market share of 2.70%.

Insuramore's data accounts for insurer groups whose fiscal years conclude in months other than December, such as Japan-based firms whose financial year ends in March 2024.