Global P&C Insurance Market Gains Efficiency and Resilience, Says Swiss Re

The Swiss Re Institute reports a doubling of the global property and casualty (P&C) insurance market to USD 2.4 trillion over the past 20 years. Innovation has expanded coverage through conventional and alternative structures. Rising natural catastrophe losses, asset accumulation, and inflation pressures drive growth, with premiums projected to align with global GDP over the next decade.

The market is seeing specialization with smaller players, outsourced underwriting, and alternative risk solutions enhancing capacity. This includes captives and risk pools that contribute to affordability and insurability for challenging risks. Reinsurers play a crucial role, transferring more risks due to increasing demand.

Advanced markets have seen P&C premiums almost double, while emerging markets maintain their 20% share of global P&C premiums. Swiss Re anticipates continued growth driven by property and liability sectors globally.