Home > Media & Technology > Next Generation Technologies > Fintech > Micro Insurance Market

Micro Insurance Market Share

Report ID: GMI7038
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Micro Insurance Market Share

In the competitive landscape of the market, dominant players including Axa Group and Swiss Re dominate through strategic product launches. They continually innovate, introducing new insurance solutions, and bolster their positions through strategic acquisitions, ensuring a strong market presence and pioneering advancements in micro insurance offerings.

Micro Insurance Market Companies

Major companies operating in the micro insurance industry are:

Allianz SE
Axa Group
Bajaj Allianz Life Insurance Co. Ltd.
BRAC
MetLife Foundation
MicroEnsure
SKS Microfinance
Swiss Re
Telenor Microfinance Bank
Zurich Insurance Group

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of micro insurance reached USD 74.2 billion in 2023 and is poised to observe over 6.5% CAGR between 2024 and 2032, owing to promotion initiatives led by the government.

The business segment was valued at over USD 36 billion in 2023, due to the introduction of insurance products specifically catering to micro and small businesses.

Asia Pacific market accounted for a revenue share of over 35% in 2023, attributed to the increased funding in micro insurance startups.

Allianz SE, Axa Group, Bajaj Allianz Life Insurance Co. Ltd., BRAC, MetLife Foundation, MicroEnsure, SKS Microfinance, Swiss Re, Telenor Microfinance Bank, and Zurich Insurance Group.