The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increased frequency of natural catastrophes is likely to stimulate innovation in property and casualty insurance manufacturing, propelling the market during the forecast period.

The global property and casualty insurance market is expected to grow from $1,696.75 billion in 2022 to $1,843.14 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The global property & casualty insurance market size is expected to reach $2,466.84 billion in 2027 at a CAGR of 7.6%.

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Global Property And Casualty Insurance Market Segments Include:

• By Coverage: Fire And Theft, House Damage, Floods And Earthquake, Personal Property, Other Coverages
• By Distribution Channel: Brokers, Non-Brokers
• By End-User: Landlord, Homeowners, Renters, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global property and casualty insurance market in 2021.

Major Market Players in the property and casualty insurance market include The Allstate Corporation, Axa S.A., Liberty Mutual Group, The People’s Insurance Company (Group) of China Limited, Zurich Insurance Group Ltd., Chubb Corp.

Technological developments are a prominent trend in the property and casualty insurance business. Companies in the property and casualty insurance sector are embracing new technology in order to maintain their market position. For example, Peppercorn, a UK-based Insurtech startup, debuted a conversational AI assistant in January 2023. This technology, in conjunction with the company’s anti-fraud technologies and pre-inception underwriting judgements, eliminates the need for a physical call centre, allowing it to provide a better buying experience to its clients while also lowering operating expenses and expense ratio.

The Property And Casualty Insurance Global Market Report 2023  provides a property and casualty insurance market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The property and casualty insurance market forecast analyzes property and casualty insurance market size, property and casualty insurance market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Property and casualty insurance are types of insurance that help to safeguard people and their belongings. Property insurance protects your possessions, such as your home, automobile, and other valuables. Casualty insurance is a policy that protects a person who is legally responsible for an accident that causes injuries or property damage to someone else.

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