General Insurance Premium by Country1. USA
Premium: The P&C insurance sector reported $918.6 billion USD in net premiums written in 2024. The top 5 insurers by direct premium written in 2024 were Statefarm ($108B), Progressive ($75B), Berkshire Hathaway ($62B), All State Corp ($55B) and Liberty Mutual( $42B).The sheer size of the American economy and the high rate of insurance penetration contribute to its dominant position.
Source: Insurance Information Institute (III)
2. UK
Premium: The total UK P/C insurance market recorded total premiums of £123.6 billion ( approximately $163 billion USD) in FY 2024 ( including LLoyds £52.5 billion).
Source: Bank of England
3. Bermuda
Premium: Gross premiums written in Bermuda were $135 billion USD in 2023 ( which includes $105 billion from commercial insurers/ reinsurers and remaining captives).
Source: Bermuda Monetary Authority (BMA) Annual Report
4. Australia
Premium: The annual premium revenue for Australia’s insurance industry jumped from $65.5 billion AUD (approximately $42 billion USD) in 2023 to $68 billion AUD in 2024.
Source: KPMG annual review
5. India
Premium: Total general insurance premiums in India for the fiscal year 2024-2025 were ₹3.07 lakh crore (approximately $35 billion USD).
Source: General Insurance Council of India – includes health insurance
6. Cayman Islands
Premium: As of the end of Q2 2025, the Cayman Islands’ Class B, C, and D insurance companies collectively wrote $30 billion USD in premiums.
Source: Cayman Islands Monetary Authority (CIMA)
7. UAE
Premium: Gross written premiums in the UAE insurance sector rose from AED 38 billion in 2022 to AED 46 billion in 2023 (approximately $13 billion USD).
Source: Central Bank of the UAE (CBUAE)-includes health insurance.
Further as the second-largest economy, China has a rapidly growing P/C insurance market. It is a major player and continues to expand its share of the global market. Japan is another major player in the global insurance market, with a large and well-established P/C sector.
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