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$4 Trillion World Insurance Market Seen By 2010

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An international study has found that life insurance was the most lucrative segment of the world insurance market in 2005, with total gross premiums of $1.82 trillion.

That comprised an estimated 58% of the total world insurance market, according to Research and Markets, Dublin, which conducted the study.

The global market for all insurance products racked up total gross premiums of $3.15 trillion in 2005, reflecting a compound annual growth rate of 5% for the period 2001-2005, according to the study.

Markets and Research expects the total world market for insurance to slow slightly, to 4.9% annual growth, for the 2005-2010 period, attaining a value of close to $4 trillion by the end of 2010, says.