Corporate life insurance market set for $1.28t by 2029

This represents a compound annual growth rate (CAGR) of 7.1%.

The global corporate-owned life insurance (COLI) market is set to increase from $919.85b in 2024 to $985.45b in 2025, according to The Business Research Company. 

This represents a compound annual growth rate (CAGR) of 7.1%.

The market’s growth has been driven by higher corporate liability exposure, strategic planning for death benefits, stronger financial reserve strategies amongst large employers, expanded funding for executive retirement plans, and efforts to retain senior executives.

The COLI market is projected to reach $1.28t by 2029, growing at a CAGR of 6.8%. 

This expansion is expected to be supported by increased focus on long-term executive retention, greater use of self-funded benefit plans, rising demand for insurance-backed financial solutions, and growing interest in using insurance as a tax-efficient investment.

Key trends shaping the market include the use of AI and machine learning for underwriting and risk assessment, blockchain-based policy tracking, cloud-native insurance systems, and digital identity verification tools. 

North America currently leads the market, whilst the Asia-Pacific region is expected to record the fastest growth in the coming years.