Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) — The “US Life and Non-life Insurance Industry Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” report has been added to ResearchAndMarkets.com’s offering.
The United States Life and Non-Life Insurance Market size in terms of net written premiums value is expected to grow from USD 1.89 trillion in 2023 to USD 2.65 trillion by 2028, at a CAGR of 6.95% during the forecast period (2023-2028).
Lower catastrophic risks improved commercial and personal car markets, and improved underwriting discipline have all contributed to rate rises over the past several years. Additionally, these elements have contributed to the US property and casualty insurance industry’s outstanding underwriting success. Due to an increase in net losses and LAE (loss adjustment expenses) that was more than the increase in net received premiums, the sector had an underwriting benefit of USD 6.5 billion, which is significantly less than the gain of USD 7 billion in the same period the previous year. The benefit of underwriting resulted in a net profit of USD 34.8 billion when combined with successful investment outcomes.
US Life and Non-life Insurance Industry Overview
The report covers the major players operating in the life and non-life insurance market in the United States. The market is fragmented, and it is expected to grow during the forecast period, due to adoption of insurtech is increasing in the sector, along with several merger and acquisition activities and other factors.
A selection of companies mentioned in this report includes
- Massachusetts Mutual Life Insurance Company
- UnitedHealth Group Incorporated
- Berkshire Hathaway Inc.
- Cigna Corporation
- Metlife Inc.
- Prudential Financial Inc.
- Aetna Inc.
- Centene Corporation
- American International Group Inc.
- State Farm*
For more information about this report visit https://www.researchandmarkets.com/r/x0vywu
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