According to Swiss Re, the global P&C risk pool will more than double by 2040 to $4.3 trillion. (Source: Swiss Re)
Over the next 20 years, property and casualty (P&C) insurance is poised to undergo "fundamental transformation" as the market becomes riskier and more complex, according to the Swiss Re Institute's most recent sigma report, "More risk: the changing nature of P&C insurance opportunities to 2040." As a result of changing conditions, Swiss Re predicts global P&C premiums will more than double from $1.8 trillion in 2020 to $4.3 trillion in 2040, with property insurance becoming the fastest-growing business line and motor insurance remaining the largest market.
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
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
