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)

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Homeowners Insurance Market Size 2024-2028

The homeowners insurance market size is forecast to increase by USD 65.9 billion at a CAGR of 4.6% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. The increasing number of natural disasters and man-made hazards has led to a higher demand for comprehensive insurance coverage. New technological developments In the home insurance industry, such as the use of drones for property inspections and smart home systems for risk mitigation, are transforming the market. Additionally, the vulnerability to cybercrimes, including identity theft and hacking, is driving insurers to offer cyber insurance policies as part of their homeowners packages. These trends are shaping the future of the market and are expected to continue influencing its growth.

What will be the Size of the Homeowners Insurance Market During the Forecast Period?

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The market is a significant segment of the global casualty insurance sector, providing financial protection for homeowners against various risks. Homeowners, as key asset holders, rely on insurance companies to safeguard their financial security against potential losses from incidents such as natural disasters, theft, and property damage. Insurers employ advanced risk assessment tools to evaluate and price policies based on factors like location, property values, and historical claims data. Recent market trends include increasing concerns over catastrophic risks, driven by both natural disasters and pandemic-related losses. The low-interest-rate environment has also influenced the market, affecting loss reserves and policyholder surplus.
Moreover, insurance companies continue to navigate the challenges posed by financial market losses and the legal responsibility to policyholders for covered damages. Asset prices and loss reserves remain crucial indicators of market stability, with property insurance and household/private property insurance being the primary types of coverage sought by homeowners.

How is this Homeowners Insurance Industry segmented and which is the largest segment?

The homeowners insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Fire and theft
  House damage
  Floods and earthquake
  Others


Source

  Captive
  Independent agent
  Direct response


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Type Insights

The fire and theft segment is estimated to witness significant growth during the forecast period.

The market growth is driven by the increasing prevalence of natural disasters and theft incidents, leading homeowners to seek additional coverage beyond standard property insurance policies. Fire insurance, a significant segment, protects against losses caused by fire, with many homeowners opting for additional coverage to offset costs exceeding their base policy limits. Policies exclude certain perils, such as war and nuclear risks. Theft insurance, another essential component, safeguards against financial losses resulting from theft or vandalism. Advanced risk assessment tools enable insurance firms to customize policies based on clients' risk profiles and underwriting guidelines, offering premium payment flexibility and virtual interactions.

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The fire and theft segment was valued at USD 80.90 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market will experience steady growth due to the high frequency of natural disasters, leading to an increased demand for reinsurance policies. Catastrophic events, such as hurricanes, tornados, and tsunamis, can cause significant damage to residential properties, resulting in substantial insurance claims. Reinsurers provide capital to primary insurers when the number of claims is high, ensuring financial security for policyholders. Despite the challenges, reinsurance firms have managed to maintain consistent revenue streams. Property values, homeowners, assets, and liability coverage are integral components of homeowners insurance policies. Insurance providers offer customized policies for various risks, including natural disasters,

From 2017 to 2023, the global property insurance market grew by 32 percent. It is forecasted to grow by 14 percent between 2023 and 2028, reaching a total gross written premium of 770 billion U.S. dollars.

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.

Property And Casualty Insurance Market size was valued at USD 742.5 Billion in 2023 and is projected to reach USD 954.6 Billion by 2030, growing at a CAGR of 4.29% during the forecast period 2024-2030.

Global Property And Casualty Insurance Market Drivers

The market drivers for the Property And Casualty Insurance Market can be influenced by various factors. These may include:

Economic Conditions: A region's or nation's overall state of economy is important. The demand for P&C insurance may rise as a result of increased company activity, rising property values, and an increase in insurable asset Population Growth and Urbanization: The need for property and liability insurance rises as a result of population growth and the expansion of urban areas. Urban areas have higher concentrations of people and businesses, which increases the amount of assets that require insurance coverage. Regulatory Developments: The insurance market may be impacted by regulatory changes. Regulations that affect price, market entrance, or consumer protection may change, which may have an impact on how insurance businesses do business and compete. Technological Innovations: These developments have the potential to both increase the efficiency of insurance procedures and introduce new risks, such as cybersecurity and technological blunders. Insurance companies can obtain a competitive advantage by adjusting and using technology well. Climate Change and Natural catastrophes: The need for property insurance may be driven by changes in the frequency and intensity of natural catastrophes. As patterns of catastrophic weather events change, insurers may need to modify their risk models and pricing tactics. Consumer Behaviour and Expectations: Insurers may be compelled to implement new technology in order to enhance customer experiences as a result of shifting consumer expectations, particularly with regard to digital interactions, tailored services, and speedy claims processing. Analytics and Risk Management: Insurance companies can now better evaluate and manage risks thanks to developments in analytics and risk modelling. Better risk selection, enhanced underwriting procedures, and more accurate pricing may result from this. Globalization and International Trade: As these two trends grow, insurers may be able to reach a wider audience and provide coverage for a wider range of risks related to doing business internationally. Cybersecurity hazards: As our reliance on digital technologies grows, there is growing worry about the hazards posed by cyber threats. As a result, there is now a greater need for cybersecurity insurance. Changes in the population's makeup: As people age, there may be a rise in the demand for some insurance policies, including long-term care and health insurance. Similar to this, shifting demography may have an impact on the kinds of risks and coverage required.

The Report Covers French Insurance Companies and It is Segmented by Policy Type (Car Insurance - Personal and Commercial, Condo Insurance, Homeowner Insurance, Renters Insurance, Others) and by Distribution Channel (Direct, Banks, Agents, Brokers, and Others). The Report Offers the Market Sizes and Forecasts in Value (USD) for all the Above Segments.

Home and Property Insurance Market Outlook

The global home and property insurance market size was valued at $330 billion in 2023 and is projected to reach $520 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2032. This robust market expansion is driven by a confluence of factors, including increasing natural disasters, heightened awareness about the importance of insurance, and regulatory initiatives making insurance mandatory in several jurisdictions.

One of the primary growth factors for the home and property insurance market is the increasing frequency and severity of natural disasters, such as hurricanes, floods, and wildfires. Climate change has exacerbated these events, making insurance coverage more critical for homeowners and property investors. Governments and insurance organizations are working in tandem to offer specialized insurance products tailored to protect against such perils, thereby boosting market growth. Additionally, advancements in meteorological technology have improved risk assessment, enabling better predictive models for insurers and thus encouraging more robust coverage options.

Another significant driver is the rising global awareness about the importance of insurance. Education campaigns by governments, non-profit organizations, and the insurance industry itself have heightened awareness about the financial security that home and property insurance can provide. This awareness is not limited to developed regions but is also spreading rapidly in emerging markets where insurance penetration has traditionally been low. Financial literacy programs and community outreach initiatives are playing a crucial role in this regard, driving market growth.

Regulatory initiatives are also pivotal in propelling the home and property insurance market forward. Many countries have introduced or are in the process of implementing mandatory insurance requirements for homeowners and landlords. These regulations are designed to protect citizens and ensure that there is a safety net in place in case of unforeseen circumstances. The enforcement of such laws not only boosts the uptake of insurance policies but also creates a more structured and transparent market environment, fostering trust among consumers.

From a regional perspective, North America continues to hold a significant market share due to its well-established insurance industry and higher levels of consumer awareness. Europe also presents substantial growth opportunities, driven by regulatory frameworks and increasing property values. Meanwhile, the Asia Pacific region is expected to witness the highest CAGR, attributed to rapid urbanization, increasing disposable incomes, and heightened awareness about insurance. Latin America and the Middle East & Africa are also emerging as potential growth hubs, backed by economic development and supportive government policies.

Property Casualty Insurance plays a crucial role in the broader landscape of home and property insurance, offering coverage that protects against a variety of risks associated with property ownership. This type of insurance is particularly important for safeguarding assets against unforeseen events such as natural disasters, theft, and liability claims. As the frequency of such incidents increases, the demand for comprehensive property casualty insurance is expected to grow. Insurers are responding by developing more tailored policies that address the specific needs of property owners, ensuring that they have adequate protection in place. This trend is further supported by advancements in technology, which allow for more accurate risk assessments and personalized coverage options.

Coverage Type Analysis

Homeowners insurance dominates the coverage type segment, owing to its comprehensive nature that includes protection against both property damage and liability. This type of insurance is essential for mortgage lenders, making it a staple in the real estate transaction process. The increasing value of real estate properties further amplifies the need for homeowners insurance, as individuals seek to protect their significant investments. The inclusion of additional riders for specific risks, such as jewelry or art collections, has also made these policies more attractive to high-net-worth individuals.

According to Cognitive Market Research, the global Property Insurance market size will be USD 655484.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 262193.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 196645.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 150761.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 32774.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 13109.69 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
The Fire and Theft held the highest Property Insurance market revenue share in 2024.

Market Dynamics of Property Insurance Market

Key Drivers for Property Insurance Market

Increasing Property Values to Increase the Demand Globally

As asset values move upward because of inflation and monetary increases, the importance of adequate insurance insurance becomes increasingly more crucial. Higher belongings values mean that the fee to rebuild or restore belongings additionally will increase, making it critical to have enough coverage to cover potential losses absolutely. By updating insurance policies to reflect present-day belongings values, house owners can avoid being underinsured, which can result in enormous financial pressure in the event of a loss. As assets markets vary and values climb, regularly reviewing and adjusting insurance coverage guarantees that protection keeps tempo with the rising fees associated with belongings possession, safeguarding investments and supplying peace of mind.

Natural Disasters to Propel Market Growth

The frequency and severity of herbal screw-ups, inclusive of hurricanes, floods, and wildfires, have multiplied, underscoring the importance of complete belongings insurance for hazard mitigation. As weather patterns shift and severe climate events turn out to be more common, properties face higher dangers of harm. Adequate insurance insurance is vital to shield against the significant economic losses that may result from these disasters. Without the right insurance, property proprietors can also conflict to recover from the fees of maintenance, rebuilding, or temporary relocation. By investing in robust property insurance, individuals can better protect their property against the unpredictable nature of natural disasters, ensuring monetary balance and resilience in the face of these developing environmental challenges.

Restraint Factor for the Property Insurance Market

Economic Downturns to Limit the Sales

Economic recessions often lead to decreased belongings values and a discount on insurance purchases. During economic downturns, asset values can drop because of decreased demand and marketplace instability, which may set off some homeowners to reduce insurance to shop charges. However, this method can be risky, as decreased coverage may additionally leave properties liable to financial losses from damage or robbery. The aggregate of declining belongings values and restrained coverage insurance can create a precarious state of affairs, especially if sudden damages occur. It's critical for property owners to preserve adequate coverage, even all through monetary downturns, to make sure they may be protected in opposition to capability losses and may get better extra efficaciously while economic situations enhance.

Impact of Covid-19 on the Property Insurance Market

The COVID-19 pandemic had a full-size impact on the assets insurance market. The worldwide health crisis led to elevated claims for enterprise interruption and property harm, even as monetary uncertainties triggered many homeowners and businesses to reevaluate their coverage wishes. Insurers faced rising claims and adjusted their regulations to deal with pandemic-related dangers, together with insurance for losses due to shu...

The Japan Property and Casualty Insurance Market is Segmented Into Insurance Type (Property Insurance (Residential, Commercial, and More), Auto Insurance (Personal and Commercial Auto), Liability Insurance (Marine, Aviation and Transit, and More)), Distribution Channel (Direct, Agency Network, and More), End User (Individuals, Smes, Large Corporations, and More), and Region. The Market Forecasts are Provided in 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.

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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

Personal Property Insurance Market Outlook

The global personal property insurance market size was estimated at USD 300 billion in 2023, and it is projected to reach USD 450 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period. This growth is primarily driven by the increasing awareness about the importance of insuring personal assets and the rising number of natural disasters, which have heightened the need for comprehensive personal property coverage. As more individuals and businesses recognize the benefits of safeguarding their possessions against unforeseen events, the demand for personal property insurance continues to surge globally.

One of the significant growth factors in the personal property insurance market is the increasing awareness among consumers regarding the importance of asset protection. With the rising occurrences of natural disasters, burglaries, and accidents, there is a growing recognition of the need to insure personal belongings. Consumers are becoming more conscious of the financial repercussions of losing property and are seeking insurance policies that offer adequate coverage. Additionally, the proliferation of digital media and advertising has played a crucial role in educating potential customers about the benefits of personal property insurance. This awareness is further bolstered by financial advisors and insurance agents who emphasize the necessity of such coverage in modern financial planning.

Technological advancements also contribute significantly to the market's growth by simplifying the insurance purchasing process. Insurtech innovations, such as artificial intelligence and big data analytics, are streamlining operations and enhancing customer experiences. These technologies help in risk assessment, policy management, and claims processing, thereby making insurance products more accessible and affordable. The use of mobile apps and online platforms allows consumers to compare policies, calculate premiums, and purchase insurance with ease. This convenience factor is particularly appealing to tech-savvy millennials and Gen Z customers, who prefer digital interactions over traditional methods. Consequently, insurers investing in technology-driven solutions are witnessing increased customer acquisition and retention rates.

Moreover, the evolving regulatory landscape is shaping the personal property insurance market. Governments worldwide are introducing policies that mandate or encourage property insurance, especially in disaster-prone areas. These regulations aim to mitigate financial losses for individuals and reduce the economic burden on government resources. In addition, tax incentives and subsidies for insurance premiums are being offered in some regions, further driving the adoption of personal property insurance. Insurers are also tailoring products to meet regulatory requirements and cater to diverse consumer needs, thereby expanding their market reach.

Regionally, the North American market holds a significant share due to the high awareness levels and established insurance infrastructure. However, the Asia Pacific region is anticipated to witness substantial growth, driven by increasing urbanization, rising disposable incomes, and a burgeoning middle class. Countries like China and India are expected to be at the forefront of this growth, as their populations exhibit a growing understanding of insurance benefits. Additionally, Latin America and the Middle East & Africa regions are also experiencing a rise in demand, though at a slower pace, primarily due to developing economic conditions and gradual regulatory advancements. The European market remains stable, with a consistent demand for personal property insurance fueled by a well-educated consumer base and a robust insurance framework.

Coverage Type Analysis

The personal property insurance market offers coverage options mainly categorized into Replacement Cost and Actual Cash Value. Each type of coverage provides unique benefits and caters to different consumer preferences and needs. Replacement Cost coverage is increasingly popular among consumers because it offers reimbursement based on the cost of replacing damaged or lost items with new ones of similar kind and quality, without considering depreciation. This type of coverage is particularly appealing in volatile economic environments where price inflation could make it costly to replace items. As a result, more policyholders are opting for Replacement Cost coverage to ensure they can fully restore their possessions without financial strain.

Actual Cash V

The global commercial property insurance market size reached USD 304.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 658.0 Billion by 2033, exhibiting a growth rate (CAGR) of 8.92% during 2025-2033. The increasing ownership of commercial properties, rising cases of natural disasters, thefts, and frauds, and the growing levels of digitalization in the insurance sector are some of the key factors propelling the market growth.

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.

Europe commercial property insurance market USD 84463.86 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031. High investment by key players is expected to aid the sales to USD 152867.2 million by 2031

The size of the Property And Casualty Insurance Market was valued at USD 7.36 Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of % during the forecast period. The property and casualty (P&C) insurance market encompasses a broad range of insurance products that protect individuals and businesses against financial losses resulting from property damage, liability, and various unforeseen events. Property insurance covers losses related to physical assets, such as homes, commercial buildings, vehicles, and personal belongings. In contrast, casualty insurance provides coverage for legal liabilities that arise from injuries or damages caused to third parties. Together, these insurance types play a critical role in risk management for both personal and business contexts. The P&C insurance market has seen significant growth, driven by factors such as increasing awareness of risk management, urbanization, and economic development. As individuals and businesses invest in assets, the demand for insurance protection grows. Additionally, natural disasters, climate change, and rising crime rates have heightened the importance of adequate coverage, further propelling market expansion. Recent developments include: September 2023: Howden New Zealand, a global insurance group, expanded its presence in New Zealand. They recently completed the acquisition of Apex Insurance New Zealand and its associated subsidiaries., July 2022: Chubb Life announced that Gail Costa will lead the company's life insurance operations in New Zealand that were recently acquired from Cigna.. Key drivers for this market are: Increasing Property Values is Driving the Market, Growing Awareness of the Need for Insurance Coverage. Potential restraints include: Natural Disasters such as Earthquakes and Floods is Restraining the Market. Notable trends are: Increase in New Residential Buildings.

The global commercial property insurance market was valued at USD 535.19 Billion in 2025 and is expected to reach a value of USD 828.78 Billion by 2033, registering a CAGR of 5.2% over the forecast period (2026-2033). The growth of the market can be attributed to the increasing number of commercial properties, the rising awareness of property insurance, and the increasing frequency of natural disasters. The market is expected to be driven by the growing construction industry, which is expected to lead to an increase in the demand for commercial property insurance. The increasing number of natural disasters is also expected to contribute to the growth of the market, as businesses seek to protect their assets from potential damage. The market for commercial property insurance is segmented by application, type, and region. By application, the market is segmented into small and medium-sized enterprises, large-scale enterprises, and homeowners. By type, the market is segmented into homeowners insurance, renters insurance, flood insurance, earthquake insurance, and other. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is the largest market for commercial property insurance, followed by Europe and Asia Pacific. The market in North America is expected to grow at a CAGR of 4.8% over the forecast period, while the market in Europe is expected to grow at a CAGR of 5.1% over the same period. The market in Asia Pacific is expected to grow at a CAGR of 6.2% over the forecast period, driven by the growth of the construction industry and the increasing awareness of property insurance.

Global Commercial Property Insurance Market was valued at USD 247.80 billion in 2022 and is anticipated to project robust growth.

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.

The statistic shows the distribution of online property insurance market in China as of 2018, by insurance company. In 2018, Ping An insurance took the lead in the online property insurance market in China, with market share of **** percent.