While people across the globe grapple with extreme weather events and manmade catastrophes, the property & casualty insurance industry continues serving as a beacon of hope and a means for getting one's life back together following a devasting event.
Market research aggregator ReportLinker projected the global P&C market to grow from $1.6 trillion in 2022 to $1.8 trillion this year. Through 2027, the worldwide sector is expected to see a compound annual growth rate of 7.6%.
According to S&P Global, U.S.-based companies accounted for 20 of the top 50 largest nonlife insurers worldwide and generated more than 40% of total premiums. China had the second-highest share of premiums, accounting for 12.4% of total premiums.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
