Non-Life Insurance in North America
SummaryNon-Life Insurance in North America industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is typically defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event.
- The North American non-life insurance market recorded gross written premiums of $2,450.7 billion in 2024, representing a compound annual growth rate (CAGR) of 8.4% between 2019 and 2024.
- The motor segment accounted for the market's largest proportion in 2024, with total gross written premiums of $452.6 billion, equivalent to 18.5% of the market's overall value.
- In 2024, the North American non-life insurance market recorded an annual growth of 6.6%. The growth is attributed to the increasing frequency and severity of natural catastrophes, including wildfires and floods, which have elevated property risk exposure and forced both households and businesses to seek broader and higher-value coverage. For instance, according to the National Interagency Fire Center (NIFC), the US experienced 61,685 wildfires in 2024, which burned 8.6 million acres.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in North America
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in North America
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the North America non-life insurance market with five year forecasts
Reasons To Buy
- What was the size of the North America non-life insurance market by value in 2024?
- What will be the size of the North America non-life insurance market in 2029?
- What factors are affecting the strength of competition in the North America non-life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in North America's non-life insurance market?
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