Property Insurance Industry Outlook in North America in 2022

GlobalData’s ‘Property Insurance Industry Outlook in North America in 2022’ report provides a comprehensive overview of the North American property insurance industry.

• This report provides the market size of the property insurance industry in the North American region. North America accounted for 50% of the global property insurance business in 2020. It grew at a review period (2016-2020) CAGR of 3.2%.

• The US accounted for over 90% of the region’s business in 2020 and noted a loss ratio of 61.7% in 2020. The report provides details on the market size of property insurance premiums for regional markets along with their profitability ratios.

• A challenging property market, along with severe Nat-Cat events, contributed to the growth of the specialty insurance market. Key lines of business generating revenue in specialty lines include high-hazard risks and non-standard risks. The report provides an insight into key trends, the impact of climate change, technology developments, and potential disruptors in the property insurance industry.

• In September 2021, the Mexican startup Super introduced a new product for the coverage of earthquake property damages, with simple and affordable insurance options. The product eliminates middlemen and uses technology to determine claims and make direct payments to customers. The report discusses the impact of COVID-19 on the industry as well as other challenges that impacted the property insurance industry in the North American region.

• The report provides a comparative analysis of leading insurers in the region.

• The report throws light on the regulatory requirements in the region including licensing rules, capital requirements, taxation regime, and ownership quotas.

• The report also highlights recent M&As in the property insurance industry.

Download our free report for more detailed insights.