Global insurance premiums grew by 2.7% in inflation-adjusted terms to $4.3 trillion, climbing above pre-crisis levels. The return to growth and record premiums generated during the year followed two years of decline in real terms. Life insurance premiums increased by 3.2% and non-life premiums by 2.1%. While industrialized countries saw an increase in premiums of around 1.4%, insurance markets in emerging economies saw rapid expansion with 11% growth in premium income. The global insurance industry was sufficiently capitalized to withstand the financial crisis and most insurance companies have restored their capital to pre-crisis levels. With the continuation of the gradual recovery of the global economy, it is likely the insurance industry will continue to see growth in premium income both in industrialized countries and emerging markets. Advanced economies account for the bulk of global insurance. With premium income of $1.62 billion, Europe is the most important region, followed by North America $1.409 billion and Asia $1.161 billion. Europe has however seen a decline in premium income in contrast to the growth seen in North America and Asia. The top four countries generated more than a half of premiums. The United States and Japan alone account for 40% of world insurance, much higher than their 7% share of the global population. Emerging economies account for over 85% of the world’s population but only around 15% of premiums. Their markets are however growing at a quicker pace. The country expected to have the biggest impact on the insurance share distribution across the world is China, which is expected to be the largest insurance market in the next decade or two. The insurance industry comprises establishments that are primarily engaged in the pooling of risk by underwriting insurance (i.e., assuming the risk and assigning premiums) and annuities. The insurance industry is a highly fragmented and includes segments such as life insurance and non-life insurance. The European region currently dominates this industry; however, Latin America, eastern Europe, and the Middle East are expected to lead the industry in the future. Asia is expected to grow the fastest over the next decade.