Japanese insurance market growth set to slow

According to a study by Allianz Group, growth in Japan’s insurance market is expected to slow through 2036.

The German insurer forecasts average annual growth of 2.5% in non-life premiums and 2.9% in life insurance revenue between 2026 and 2036. Despite this projected expansion, Japan’s share of the global insurance market is expected to shrink from 3.9% in 2025 to 3% by 2036.

The decline reflects the comparatively faster expansion of other major insurance markets, particularly China and India.