U.S. P&C Insurance: Weak Performance and Neutral Outlook for 2024
The U.S. property and casualty (P&C) insurance sector experienced subdued statutory financial performance, primarily due to a decline in personal lines
The U.S. property and casualty (P&C) insurance sector experienced subdued statutory financial performance, primarily due to a decline in personal lines
The U.S. insurance industry experienced a notable number of layoffs, particularly within the property and casualty, P&C insurance sector
Q4 has historically been an important time for the Property insurance market, as the peak reinsurance renewal season approaches, and the Atlantic hurricane season runs
US P&C insurance industry continued to generate significant underwriting losses in 2024 despite strong premium growth
The intensity and spread of inflation is sending insurance claims costs soaring. Strong rate hardening in US commercial insurance lines and acceleration in personal lines rates
The value of the worldwide market for insurance broking in terms of fees and commissions earned was around USD 151.4 billion
The P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
The intensity and spread of inflation is sending insurance claims costs soaring. Strong rate hardening in commercial insurance lines and personal lines rates support topline growth
According to Insuramore`s global rankings, the TOP-10 P&C (non-life) insurer groups accounted for 25.3% of total P&C gross direct premiums
US property and casualty P&C industry underwriting results are likely to improve in 2024 as premium rates rise significantly in underperforming auto
US property and casualty insurance companies had a median price-to-estimated earnings multiple of 12.1x
U.S. homeowners’ insurance is poised to post a statutory underwriting loss for reported results, as insurers continue to face above-average catastrophe losses
Slow underlying growth and inflation are among the biggest challenges facing U.S. auto, home, and business insurers
Natural disasters resulted in global economic losses of USD 275 billion, of which USD 125 billion were covered by insurance, the fourth highest one-year total
Casualty insurance has seen a decline in coverage and pricing in the 2023, with both of them presenting potential challenges to the insurance market
The US P&C industry recorded a net underwriting loss of $26.5 billion, worsening by $21.5 billion from the previous year
The US P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
The phenomenon of social inflation has garnered a great deal of attention in the property and casualty (P&C) insurance industry
As per GlobalDatas’s Property Insurance Industry Outlook in Asia-Pacific in report, the global property insurance industry recorded a CAGR of 4.1%
Global commercial property and casualty (P&C) insurance lines have delivered strong financial performance in recent years following the soft market of 2013 to 2018
2024 will be a difficult year for the US P&C industry: claims severities surged with inflation, natural catastrophe losses were elevated for a sixth straight year
Property insurance growth in Europe recovered at 3.2% as compared to a flat growth due to premium price hardening owing to escalating natural catastrophe losses
U.S. Property & Casualty (P&C) insurers should see stabilizing to modestly better industry operating performance
Commercial property and casualty (P&C) insurance has been riding on the back of a hard market. However, insurance premium increases have slowed
Technology and data-enabled solutions are creating the tailwinds for change in the commercial property insurance market