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).
Second on the list is Japan with $77 billion in GWP. Germany is third at $68 billion, followed by the United Kingdom at $63 billion.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
