The United States Property and Casualty Insurance Market is Segmented by Insurance Line (Homeowner, Private Passenger Auto, Commercial Auto, General Liability, and More), Distribution Channel (Direct, Agents, Brokers, Bancassurance, and More), Customer Segment (Personal Lines, Small Commercial, Mid-Market Commercial and More), and Region (California, Texas and More). The Market Forecasts are Provided in Terms of Value (USD)

The number of people employed in the property and casualty insurance industry in the United States decreased in 2024. In that year, there were approximately ******* people employed in this sector, down from ******* in the previous year. This figure trended downward in the decade prior to 2014, before trending upwards over the second half of the 2010s. What is property and casualty insurance? Property and casualty (P&C) insurance is a type of insurance which covers risks related to the loss or damage of property. This kind of insurance coverage is primarily concerned with two aspects of protection, namely the protection of physical objects (such as cars, houses, etc.) as well as protection against legal liability (in the event that one is found legally responsible for injury or damage incurred by another party). In 2023, the direct premiums of P&C insurance in the United States amounted to almost **** billion U.S. dollars. Who are the leading P&C insurers in the U.S.? In 2023, the American property/casualty industry was led by State Farm. Based in Illinois, State Farm Insurance is a large group of mutual insurers throughout the United States. That year, State Farm held nearly ten percent of the market share – almost three percent more than their closest competitor, Nationwide.

Graph and download economic data for Producer Price Index by Industry: Direct Property and Casualty Insurers: Commercial Auto Insurance (PCU5241265241263) from Jun 1998 to May 2025 about property-casualty, insurance, vehicles, commercial, PPI, industry, inflation, price index, indexes, price, and USA.

The size of the property, casualty and direct insurance market in the United States is expected to reach almost *** billion U.S. dollars in 2022. This is a small increase from the previous year, when this market was valued at *** billion U.S. dollars.

Number of Businesses statistics on the Property, Casualty and Direct Insurance industry in United States

United States Property & Casualty Insurance: Combined Ratio data was reported at 96.900 % in Dec 2024. This records a decrease from the previous number of 97.900 % for Sep 2024. United States Property & Casualty Insurance: Combined Ratio data is updated quarterly, averaging 97.950 % from Mar 2012 (Median) to Dec 2024, with 52 observations. The data reached an all-time high of 104.500 % in Sep 2017 and a record low of 92.900 % in Mar 2013. United States Property & Casualty Insurance: Combined Ratio data remains active status in CEIC and is reported by National Association of Insurance Commissioners. The data is categorized under Global Database’s United States – Table US.RG012: Property & Casualty Insurance: Industry Financial Snapshots.

The Estonia Property & Casualty Insurance Market report segments the industry into By Product Type (Motor Insurance, Property Insurance, Civil Liability Insurance, Financial Loss Insurance, Others) and By Distribution Channel (Direct, Agents, Brokers, Other Distribution Channel). Get five years of historical data alongside five-year market forecasts.

General insurers can provide industry services at a fraction of the potential loss by pooling premiums to pay for losses some policyholders incur. The industry is an indispensable part of risk management in the domestic economy. General insurers derive income from insurance premiums and investing in bonds, stocks and other assets. Most property and casualty premiums are obtained through renewing policies relating to existing risks. Changes in risk exposure and pricing conditions affect remaining premiums. Many consumers view policies as inelastic, although some may choose to decrease consumption of insurance policies should premium prices increase too much. Policy pricing fluctuates between cycles of price-cutting (softening) and price raising (hardening). Over the past five years, revenue has grown at a CAGR of 3.4% to $1,021.1 billion, including an expected 2.1% increase in 2025 alone. Industry profit is also set to climb to 14.2% of revenue in the current year as insurance premiums have climbed and interest income has grown. Industry revenue has benefited from a hardening price cycle during the majority of the current period. Even though volatility at the onset of the period and a high inflationary environment in the latter part of the period hindered the broader economy, demand for industry services was not severely damaged. Net premiums increased for insurers, primarily because of the growth in the house price index and the rise of new car sales have led to higher insurance premiums to protect against potential liabilities. As economic conditions will continue to improve into the outlook period, employment and business activity in the broader economy are expected to increase and promote spending and the need for industry services. The Federal Reserve is anticipated to cut rates further following the recent rate cuts in the latter part of the period which will decrease investment income for P&C insurers, limiting industry revenue growth. Overall, revenue is forecast to grow at a CAGR of 2.0% to $1,126.8 billion over the five years to 2030.

Graph and download economic data for Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Primary Services (PCU924126924126P) from Jun 1998 to May 2025 about property-casualty, premium, primary, insurance, services, PPI, industry, inflation, price index, indexes, price, and USA.

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Property And Casualty Insurance Market Size 2025-2029

The property and casualty insurance market size is forecast to increase by USD 816.9 million, at a CAGR of 8.8% between 2024 and 2029.

The market is experiencing significant shifts, with the increasing frequency and severity of uncertain catastrophic events posing a considerable challenge. This trend is driving insurers to reassess risk management strategies and invest in advanced technologies to mitigate potential losses. Simultaneously, inorganic growth strategies, such as mergers and acquisitions, are becoming increasingly prevalent as companies seek to expand their reach and enhance their competitive positions. Another critical issue confronting the market is the growing concern over data privacy and security. With the proliferation of digital technologies and the increasing use of customer data, insurers must prioritize robust cybersecurity measures to safeguard sensitive information and protect their reputations.
This need for enhanced data security is likely to spur investments in advanced technologies and solutions, offering opportunities for innovative players to capitalize on this growing demand. In summary, the market is characterized by a dynamic landscape, with insurers navigating the challenges of catastrophic events, inorganic growth, and data security, while also capitalizing on opportunities for technological innovation and expansion.

What will be the Size of the Property And Casualty Insurance Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The property and casualty (P&C) insurance market continues to evolve, with dynamic market dynamics shaping various sectors. Regulatory compliance and financial reporting are crucial elements, ensuring policy sales align with insurance regulations. Commercial property insurance, including flood and earthquake coverage, requires advanced catastrophe modeling for accurate risk assessment and pricing. Insurance technology (insurtech) innovations, such as fraud detection and blockchain in insurance, streamline operations and enhance efficiency. Data breach insurance, homeowners insurance, boat insurance, and other personal lines, as well as commercial auto and workers' compensation insurance, benefit from these advancements. Umbrella insurance, liability insurance, and professional liability insurance provide risk transfer solutions, while actuarial modeling and accounting ensure accurate capital requirements and loss ratios.

How is this Property And Casualty Insurance Industry segmented?

The property and casualty insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Direct business
  Agents
  Banks
  Others


Product Type

  Fire insurance
  Motor insurance
  Marine insurance
  Aviation insurance
  Others


End-User

  Individuals
  Businesses
  Government Entities


Coverage Type

  Standard Policies
  Customized Policies
  Bundled Policies


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Distribution Channel Insights

The direct business segment is estimated to witness significant growth during the forecast period.

In the dynamic the market, insurance companies play a pivotal role, offering direct business services that cater to customers' insurance needs from quotes to claims management. This all-encompassing support is a significant advantage, providing convenience and streamlining the insurance process. Competition among insurers drives innovation, with companies leveraging technology, such as actuarial modeling, insurance accounting, and catastrophe modeling, to assess risk and price policies effectively. Regulatory compliance is paramount, shaping financial reporting and capital requirements. Distribution channels, including insurance brokers and independent agents, expand reach and accessibility. Commercial property insurance, auto insurance, and workers' compensation insurance are key product offerings, with additional coverage for floods, earthquakes, motorcycles, boats, and cybersecurity.

Umbrella insurance, professional liability insurance, and liability insurance provide risk transfer solutions. Risk assessment and fraud detection are integral to underwriting, while insurance regulations ensure fair business practices. Insurtech and blockchain technology are transforming claims processing and policy administration. Catastrophe bonds offer alternative risk financing mechanisms. Overall, the market is character

Graph and download economic data for Producer Price Index by Industry: Direct Property and Casualty Insurers: Non-Auto Liability Insurance (PCU5241265241264) from Jun 1998 to May 2025 about property-casualty, insurance, liabilities, PPI, industry, inflation, price index, indexes, price, and USA.

Graph and download economic data for Property-Casualty Insurance Companies; Total Liabilities (Balance Sheet), Transactions (BOGZ1FU514190003Q) from Q4 1946 to Q1 2025 about property-casualty, balance sheet, transactions, insurance, liabilities, and USA.

In 2018, the property and casualty insurance market in North America generated 723 billion U.S. dollars in premiums. As for the size of the African market, it was valued at only 17 billion U.S. dollars. The size of the global property and casualty insurance market reached 1.6 trillion U.S. dollars in that year.

The Property And Casualty Insurance Market is experiencing a surge in growth, reaching a market valuation of 3,916.99 billion USD. This growth is driven by factors such as rising awareness of insurance protection, increasing natural catastrophes, and the expanding middle class in emerging economies. Additionally, technological advancements have simplified the insurance process, making it more accessible to a wider population. The market is expected to continue its upward trajectory with a CAGR of 7.9% over the forecast period. Property and Casualty (P&C) Insurance covers a broad range of policies that protect against property damage and liability risks. It includes insurance for homes, cars, businesses, and other personal belongings. P&C insurance typically combines coverage for both property (such as buildings, vehicles, and personal possessions) and casualty (liability arising from legal claims and lawsuits). Key features of P&C insurance include financial protection against unexpected events like fire, theft, accidents, and legal liabilities. Policies are customizable to meet specific needs, with options for additional coverage like flood insurance or business interruption insurance. The advantages of P&C insurance include peace of mind knowing that assets are protected from financial losses due to unforeseen events. Recent developments include: In November 2023, Chubb, launched a new media insurance product for customers in the UK Concurrently, Chubb has rebranded its current UK Technology Industry Practice to the Technology and Media Practice, aligning with its updated focus. The media insurance offering encompasses customizable coverages that include cyber, media liability, terrorism, casualty, property, and legal expenses. Clients have the flexibility to opt for specific covers that suit their individual needs. Additionally, the product provides various value-added services, such as a complimentary legal advice helpline staffed by experienced media lawyers. This product is aimed at middle-market and multinational media companies, as well as consultants in advertising, graphic design, public relations, brand development, encompassing magazines, newspaper, radio, and television. , In November 2023, Futuristic Underwriters LLC, announced the public launch of its services committed to mitigating risks and enhancing profitability for insurers, agents, and insured parties. Futuristic Underwriters aims to provide innovative solutions to address challenges within various sectors, including manufacturers/distributors, contractors, professional service organizations, real estate, auto, and other property and casualty lines. , In November 2023, One Inc., and J.P. Morgan, announced their partnership to serve the insurance sector. This partnership empowers insurance carriers to utilize J.P. Morgan's extensive liquidity and payment capabilities within One Inc.'s digital platform for claim payouts, thereby enhancing the digitization and enriching the overall claims experience. Through this partnership, the combined expertise of both organizations in the insurance industry is leveraged, enabling insurers to provide comprehensive end-to-end solutions for a wide range of payment requirements in the Property and Casualty (P&C) insurance claims process. .

Global Property and Casualty Insurance Market's estimated size and share is projected to exceed USD 3,794.81 billion by 2032, with a forecasted CAGR of 8.3% during the period. Economic growth is a pivotal force propelling the expansion of the market trends.

United States Property & Casualty Insurance: Net Premiums Written data was reported at 932.231 USD bn in Dec 2024. This records an increase from the previous number of 712.847 USD bn for Sep 2024. United States Property & Casualty Insurance: Net Premiums Written data is updated quarterly, averaging 388.738 USD bn from Mar 2012 (Median) to Dec 2024, with 52 observations. The data reached an all-time high of 932.231 USD bn in Dec 2024 and a record low of 114.797 USD bn in Mar 2012. United States Property & Casualty Insurance: Net Premiums Written data remains active status in CEIC and is reported by National Association of Insurance Commissioners. The data is categorized under Global Database’s United States – Table US.RG012: Property & Casualty Insurance: Industry Financial Snapshots.

The Germany Property and Casualty Insurance Market is Segmented by Insurance Type (Motor, Property, General Liability, Speciality Lines, and More), Distribution Channel (Direct and Digital, Agents, Brokers, Banks and More), Customer Type (Personal, Commercial Lines, and More), End-User Industry (Manufacturing, Construction and Real Estate, and More), and Region. The Market Forecasts are Provided in Terms of Value (USD).

Dive into Market Research Intellect's Property And Casualty Insurance Market Report, valued at USD 800 billion in 2024, and forecast to reach USD 1.2 trillion by 2033, growing at a CAGR of 5.5% from 2026 to 2033.

In 2023, State Farm was the property and casualty insurance market leader in the United States and held almost 10 percent of the market in terms of premiums. Progressive Corp and Berkshire Hathaway Inc. followed behind with about 6.6 and 6.2 percent respectively.

Property & Casualty Insurance: Return on Revenue data was reported at 15.200 % in Dec 2024. This records a decrease from the previous number of 16.600 % for Sep 2024. Property & Casualty Insurance: Return on Revenue data is updated quarterly, averaging 9.150 % from Mar 2012 (Median) to Dec 2024, with 52 observations. The data reached an all-time high of 18.200 % in Jun 2024 and a record low of 2.400 % in Jun 2023. Property & Casualty Insurance: Return on Revenue data remains active status in CEIC and is reported by National Association of Insurance Commissioners. The data is categorized under Global Database’s United States – Table US.RG012: Property & Casualty Insurance: Industry Financial Snapshots.