In 2023, the Commercial Property and Casualty direct premiums in the US were estimated at approximately $310 billion. Forecasted figures show a steady increase, reaching $332.78 billion by 2028. The year-on-year growth from 2024 to 2025 is about 1.35%, from 2025 to 2026 it is around 1.31%, from 2026 to 2027 it is approximately 1.27%, and from 2027 to 2028 it stands at nearly 1.22%. The compound annual growth rate (CAGR) for the period from 2024 to 2028 is around 1.30%.
Future trends to watch:
- Emergence of new risks due to climate change impacting property insurance.
- Technological advancements influencing risk assessment processes.
- Regulatory developments affecting premium structures.
- Increase in demand for cyber insurance products as cyber threats evolve.
