06.01.26
Has North America’s Annuities Market Peaked?
by: Steve Randall
Allianz’s Global Insurance Report 2026 finds that global life and health insurance markets remain strong despite geopolitical and economic pressures, with life premiums rising 6.9% in 2025 to about €2.9 trillion, though growth slowed as North America’s annuity boom cooled. The report suggests the region’s life insurance growth has moderated as higher interest-rate-driven demand for annuities levels off. Despite this cooling, North America still dominates globally, accounting for roughly 28% of life premiums and an expected 46% of total premiums by 2036. Structural drivers such as aging populations, rising healthcare costs and demand for retirement protection are expected to sustain long-term growth, with life and health insurance projected to expand steadily over the next decade.
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