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With global gross-written premiums (GWP) for the P&C insurance industry standing at $1.15 trillion, the United States still ranks No. 1 in premium volume, but expansion of the marketplace remains a challenge for insurers, according to Aon Benfield.

In its sixth-annual Insurance Risk Study, the reinsurance broker ranks the top-50 global markets by gross-written premium and finds that the U.S. leads the way with $456 billion in P&C GWP, which translates into slightly more than 3 percent insurance penetration (defined as the ratio of premium to GDP).

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