Earthquake insurance market projected to reach $13.6b by 2034

This represents a compound annual growth rate of 6.0%.

The global earthquake insurance market is projected to grow from $7.6b in 2024 to $13.6b by 2034, according to a report by Market.us.

This represents a compound annual growth rate (CAGR) of 6.0% over the forecast period. 

The market’s growth is being driven by the rising frequency of natural disasters, urbanization, and increased asset values in earthquake-prone regions. 

Government initiatives aimed at disaster preparedness and regulations promoting resilience have also contributed to wider policy adoption.

In 2024, the non-life insurance segment made up more than 76% of the market, reflecting the demand for broader coverage of property and asset risks. 

Personal policies held a 64% share, indicating growing uptake amongst homeowners. 

Agents remained the main distribution channel, accounting for over 30% of sales due to their role in risk assessment and customer service. 

Individual policyholders represented 66% of total insureds, highlighting increased household-level awareness of seismic risk.