en.wikipedia.org/wiki/Financial_services
1 correction found
The United States, followed by Japan and the United Kingdom are the largest insurance markets in the world.
This ranking is outdated. Recent market-size data rank the United States first, China second, the United Kingdom third, and Japan fourth.
Full reasoning
Recent official market rankings do not support the article's ordering.
The U.S. Treasury's Annual Report on the Insurance Industry (September 2025) lists the world's top insurance markets by 2024 premium volume as:
- United States
- China
- United Kingdom
- Japan
Its table shows 2024 premium volumes of about $3.50 trillion for the U.S., $791.6 billion for China, $484.9 billion for the U.K., and $338.9 billion for Japan. That directly contradicts the article's claim that Japan is second and the U.K. third.
Swiss Re's sigma No. 3/2024 report likewise says that in 2023, the US and China remained the first and second largest insurance markets, with the UK in third place and Japan in fourth. Because both sources place China ahead of both Japan and the UK, the sentence in the article is factually incorrect as written.
2 sources
- Annual Report on the Insurance Industry (September 2025)
Figure 47 lists the top markets by 2024 premium volume: 1 United States, 2 China, 3 United Kingdom, 4 Japan.
- Swiss Re Institute sigma No. 3/2024: World insurance
The report states: 'The US and China remain, respectively, the first and second largest insurance markets in the world' and says the UK claimed third place in 2023, overtaking Japan.