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Insight Report: Insurance for HNWIs - Current State and Future Prospects

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Published Content info 39 Pages
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Insight Report: Insurance for HNWIs - Current State and Future Prospects
Published: March 31, 2016 Content info: 39 Pages

This publication has been discontinued on January 11, 2019.


Timetric's 'Insight Report: Insurance for HNWIs - Current State and Future Prospects' analyzes insurance products and services market for HNWIs.

As the HNWI insurance market is constantly evolving, insurers are developing new products and services, with customization a key strategy to meet HNWI specific needs. Growth in the number of HNWIs and a consistent rise in their wealth are creating new opportunities for insurers globally. The global HNWI population increased by 2.8%, from 17.3 million in 2013 to 17.8 million in 2014, and is expected to reach 19.8 million in 2018.

Developed markets offer significant opportunities for wealth managers and insurers, as HNWI clients in these markets still account for most of the global HNWI population and wealth. Infrastructure in the HNWI market, such as banks, financial advisors and family offices, is well developed.

Emerging markets are still in early stages of development, in terms of wealth management services, with a recent history of wealth creation as a result of entrepreneurship. However, growth in the number of private enterprises in emerging markets has resulted in rising HNWI population and wealth.

The report also discusses in detail the trends across life and non-life insurance products for HNWIs. Life insurance has become a key component of wealth planning strategy for HNWIs. It is a major investment involving huge premiums and managing issues such as formation of a trust for wealth transfer to the next generation, estate planning, charitable giving, and tax planning in a broader context. It also enables HNWIs to properly structure business and personal assets. Concurrently, non-life insurance also enables HNWIs to protect the value of their assets.

HNWIs typically possess a broad range of insurable assets such as real estate, household collections, jewelry, yachts and private aircraft, among others. HNWIs are also often targets of liability suits, requiring personal liability cover.


Timetric's 'Insight Report: Insurance for HNWIs - Current State and Future Prospects' provides detailed analysis on insuring HNWIs. It provides:

  • An overview of the global HNWI insurance market, and product innovation, competition and the distribution network.
  • Insights into the key market trends and developments in the HNWI insurance market.
  • Analysis of market opportunities and challenges faced by insurance companies in marketing and selling HNWI insurance products.
  • Understanding of HNWIs' insurance requirements through insights on their attitude, behavior, concerns and unique risk profile.


  • The report discusses in detail the growth in the HNWI population and wealth in key markets as opportunities for the insurance industry.
  • It analyzes the state of the HNWI insurance market in developed and emerging economies.
  • It discusses the role of insurance as a wealth planning tool, and explores demand for life and non-life insurance products among HNWIs.
  • It builds understanding of heterogeneity among HNWIs through wealth segmentation.

Reasons To Buy

  • Gain an understanding of the role of life and non-life insurance as a strategy for HNWIs' overall wealth.
  • Understand the different types of life and non-life insurance products available for HNWIs in the market.
  • Develop an insight into insurance needs and risk profiles for HWNI sub-segments, and build an understanding of strategies to target HNWIs at different life stages.
  • Understand how premium financing can help HNWIs to capitalize on assets and pay high life insurance premiums, without liquidating assets or affecting cash flow.
Table of Contents
Product Code: IS1186MR

Table of Contents

1. Executive Summary

2. Overview of HNWI Insurance

3. Regional HNWI Markets

  • 3.1. North America
  • 3.2. Europe
  • 3.3. Asia-Pacific
  • 3.4. Latin America
  • 3.5. The Middle East
  • 3.6. Africa

4. Strategies for Targeting HNWIs

5. Trends in Life Insurance for HNWIs

6. Trends in Non-Life Insurance for HNWIs

7. Conclusion

8. Appendix

  • 8.1. Methodology
  • 8.2. Contact Timetric
  • 8.3. About Timetric
  • 8.4. Timetric's Services
  • 8.5. Disclaimer

List of Tables

  • Table 1: Innovation in HNW Insurance
  • Table 2: HNWI Segmentation by Wealth
  • Table 3: HNWI Populations by Region, 2010-2019
  • Table 4: Regional Overview, UHNWI Population, 2010-2019
  • Table 5: HNWI Populations and Wealth (US$ Billion) - North America
  • Table 6: HNWI Populations and Wealth (US$ Billion) - Europe
  • Table 7: HNWI Population and Wealth (US$ Billions) - Asia-Pacific
  • Table 8: HNWI Population and Wealth (US$ Billion) - Latin America
  • Table 9: HNWI Population and Wealth (US$ Billion) - The Middle East
  • Table 10: HNWI Population and Wealth (US$ Billion) - Africa
  • Table 11: Understanding the Top of The Pyramid - HNWI Buyers
  • Table 12: UHNWIs' Insurance Needs
  • Table 13: Role of Life Insurance in Managing Wealth for HNWIs in the US
  • Table 14: Inheritance and Gift Taxes (2015)

List of Figures

  • Figure 1: Future Concerns of HNWIs Worldwide by Assets (2014)
  • Figure 2: Stages in the life of HNWI Drives Insurance Needs
  • Figure 3: Premium Financing Process
  • Figure 4: Addressing Non-Life Insurance Needs for HNWIs
  • Figure 5: Most Underinsured Risks in HNW Personal Lines Insurance
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