The Global Property & Casualty Insurance Providers Market Was Valued At USD 2

Posted by sainath on August 22nd, 2018

Property and casualty insurance providers are engaged in direct underwriting insurance policies that protect policyholders against future uncertain losses that may occur as a result of property damage or contingent liability. This market includes direct Insurance Providers which underwrite policies for protection against events such as natural calamities, burglary, fire accidents, riots and terrorism-related incidents. Clients of these Insurance Providers are the general public/companies who buy property and casualty insurance policies, it can be either through intermediary or direct selling.

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The global property and casualty insurance providers market was valued at USD 2 trillion in 2017, and is expected to be driven by the emerging markets’ growth. The companies in this market face oversupply of capital because of expansion of their bases, to reach out globally. Asia Pacific was the largest geographic region in the market in 2017, accounting for nearly two-fifths the of the global market share.

The property and casualty insurance providers market in The Business Research Company’s report is divided into seven segments: automobile insurance carriers, malpractice/indemnity insurance carriers, fidelity insurance carriers, mortgage guaranty insurance carriers, homeowners’ insurance carriers, surety insurance carriers, and liability insurance carriers

The USA was the largest country in the property and casualty insurance providers market in 2017, accounting for nearly one third of the global market share. The USA was followed by China and India as the next largest countries in the market.

The top five competitors in the market are Allstate, American International Group, Berkshire Hathaway, Liberty Mutual, and Travelers Companies Inc. Allstate was the biggest player in the market in 2017. It offers business, home security, supplemental health care, theft, disaster, motor and home insurance products. It also provides other banking financial services to the customers. The company is based in Northbrook, Illinois.

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sainath
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