スナップチャート
Investor concerns about insurers’ growth prospects deepened in the first half of 2025, compared with 2024. Bain & Company analysis shows this skepticism is particularly acute in US life insurance, which is characterized by complex products, limited access to advice, and a continued drag from higher-for-longer interest rates. In property and casualty, growth through further rate increases seems unsustainable, as insurers contend with unaffordable premiums for many customers and poor price-to-risk alignment. The one bright spot is emerging market life insurance. To rebuild investor confidence, insurers broadly must improve their value propositions, solve the access and advice challenges for customers, and navigate a turbulent macro environment to balance growth with risk-adjusted profitability.