7. Direct Insurance Carriers
Revenue: $2,580 billion
While the global insurance industry has suffered insurmountable challenges like low-interest rates, customers’ dissatisfaction and a softening market, the growth of nascent markets have outpaced the growth of mature markets and has indirectly affected the growth of this industry drastically.
An increase in disposable income in various emerging countries like China has affected the demand pool of this industry as more people in the middle class will want to insure personal belongings. This has given rise to this industry and also increased its revenue for the year 2020.