Non-Life Insurance in the US, Key Trends and Opportunities to 2017

Date: 2015-09

The USโ€™s non-life insurance segment is the largest and most mature non-life segment in the world. This segment accounted for 28.9% of the overall US insurance industryโ€™s written premium in 2012. The written premium value of the segment increased at a CAGR of 0.9% during the review period. The growth was partially as a consequence of the decline in unemployment, the recovering economic climate, investment returns and interest rates. The recovery of property prices, coupled with high passenger car sales in the domestic market, contributed to the marginal review-period growth of the non-life segment. The occurrence of a series of natural disasters in the US such as floods, Hurricane Gustav, Hurricane Ike, the New England Ice Storm in 2008, the northeast blizzards of 2010, the Alabama tornado outbreak, Mississippi floods, Hurricane Irene in 2011 and Hurricane Sandy in October 2012 negatively impacted the profitability of non-life insurance companies during the review period.

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