Global property & casualty premiums set to more than double by 2040
Global property and casualty (P&C) insurance premiums are set to more than double to $4.3 trillion in 2040 from $1.8 trillion in 2020 as the sector shifts from lower-risk motor insurance towards higher-risk property and liability lines, the Swiss Re Institute forecast on Monday.
It predicted property insurance would become the fastest-growing line of business. Although its share is shrinking, motor insurance was expected to remain the largest of all P&C lines, with premiums forecast to almost double by 2040, it said.
Source: Reuters (Reporting by Michael Shields, editing by Silke Koltrowitz)