Property and Casualty Insurance Market Scope, Growth, Size and Share by 2031
Property and Casualty Insurance Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,800.00 Billion |
| Market Size by 2031 | US$ 2,804.61 Billion |
| Global CAGR (2023 - 2031) | 5.7% |
| Historical Data | 2021-2023 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The "Property and Casualty Insurance Market Analysis" was carried out based on product type, distribution channel, and geography. In terms of product type, the market is segmented into homeowners insurance, car insurance, condo insurance, renters insurance, landlord insurance, and others. Based on the distribution channel, the market is segmented into direct, agency, and banks. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Property and Casualty Insurance Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the property and casualty insurance market. A few recent key market developments are listed below:
- In November 2023, Chubb announced a new insurance product catering to customers in the United Kingdom, precisely designed for the media industry. The media insurance offering includes tailored coverages, spanning media liability, cyber, property, casualty, and legal expenses. Each coverage option is discretionary, allowing customers the flexibility to modify their insurance plans according to their individual preferences and needs.
(Source: Chubb, Company Website)
- In July 2023, Allianz Global Corporate & Specialty, in collaboration with the commercial insurance segment of regional Allianz Property & Casualty, started operations under the unified name "Allianz Commercial." This unified business entity serves as a single go-to-market platform, providing inclusive insurance solutions tailored for mid-sized businesses, large enterprises, and specialized risk.
(Source: Allianz Global, Company Website)
- In February 2022, Everbridge, Inc. and Brown & Brown revealed an advanced product, the first of its kind, designed to empower property and casualty insurance clients. This groundbreaking offering enables proactive advanced alerts regarding events that could affect insured properties. It goes beyond providing recommendations on actions that can be taken to minimize costs, mitigate disruption, and address potential threats to personal safety.
(Source: Everbridge, Inc., Company Website)
Property and Casualty Insurance Market Report Coverage & Deliverables
The market report "Property and Casualty Insurance Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.
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