Global Property And Casualty Insurance Market Segments 2024, Forecast To 2033
5 Mar, 2024
The property & casualty insurance market has exhibited strong growth, climbing from $2223.83 billion in 2023 to $2378.65 billion in 2024, showcasing a 7.0% CAGR. Growth drivers include natural catastrophes, regulatory changes, and global economic conditions. The forecast predicts substantial expansion, reaching $3105.3 billion in 2028, reflecting a 6.9% CAGR. Emerging trends involve globalization of risks and markets, resilience focus, regulatory changes, pandemic risk management, alternative capital sources, and collaboration and partnerships.
Global Property And Casualty Insurance Market Key Driver
The property and casualty insurance market is witnessing growth driven by an increase in natural disasters. These catastrophic events, including floods and storms, contribute to substantial property damage. In 2021, the National Interagency Fire Center reported 58,985 wildfires, impacting 7.1 million acres—an increase of 17% from 2019. The surge in natural disasters propels the demand for property and casualty insurance, emphasizing the need for coverage against unpredictable environmental challenges.
Get A Free Sample Of The Global Property And Casualty Insurance Market ReportGlobal Property And Casualty Insurance Market Segments
The property and casualty insurance market covered in this report is segmented –
1) By Coverage: Fire And Theft, House Damage, Floods And Earthquake, Personal Property, Other Coverages
2) By Distribution Channel: Brokers, Non-Brokers
3) By End-User: Landlord, Homeowners, Renters, Other End Users
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the property & casualty insurance market in 2023. The regions covered in the property and casualty insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Property And Casualty Insurance Industry Players
The Allstate Corporation; Axa S.A.; Liberty Mutual Group Inc.; The People's Insurance Company of China Limited; Zurich Insurance Group Ltd.; Chubb Corp.; American International Group Inc.; State Farm Mutual Automobile Insurance Company; Allianz SE; Admiral Group plc; The Hartford Financial Services Group Inc.; Nationwide Mutual Insurance Company; The Progressive Group; China Pacific Insurance Co. Ltd.; Tokio Marine Holdings Inc.; Berkshire Hathaway Group; Progressive Corporation; Allstate India Private Limited; The Travelers Companies Inc.; United Services Automobile Association; Farmers Insurance Co. Inc.; American Family Insurance Group; Hartford Insurance Group; Erie Insurance Group; Auto-Owners Insurance Group; CNA Insurance Companies; AmTrust NGH Group; EMC Insurance Companies; Markel Corporation; Selective Insurance Group Inc.; Cincinnati Insurance Companies; Donegal Insurance Group; Grange Mutual Casualty Group; Hanover Insurance Group; Kemper Corporation; Main Street America Group; Mercury General Corporation; Motorists Insurance Group; National General Insurance Group; Plymouth Rock Group of Companies; Utica National Insurance Group; W.R. Berkley Corporation; Westfield Corp. Ltd.
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AIOps Property And Casualty Insurance Market Overview
Property and casualty insurance refers to varieties of insurance that aid in protecting individuals and their possessions. Property insurance aids in protecting the possessions, such as houses, cars, and others. Casualty insurance refers to the policy that protects a person, who is legally accountable for an accident that results in someone else's injuries or property damage.
Property And Casualty Insurance Global Market Report 2023 provides data on the global property and casualty insurance market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The property and casualty insurance market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.