Usa Life & Non-life Insurance Market Size

Statistics for the 2022 & 2023 Usa Life & Non-life Insurance market size, created by Mordor Intelligence™ Industry Reports. Usa Life & Non-life Insurance size report includes a market forecast to 2028 and historical overview. Get a sample of this industry size analysis as a free report PDF download.


Market Size of USA Life & Non-Life Insurance Industry

USA Life & Non-Life Insurance Market Summary
share button
Study Period 2019-2028
Base Year For Estimation 2022
Market Size (2023) USD 1.89 Trillion
Market Size (2028) USD 2.65 Trillion
CAGR (2023 - 2028) 6.95 %
Market Concentration Low

Major Players

USA Life & Non-Life Insurance Market Major Players

*Disclaimer: Major Players sorted in no particular order


Need a report that reflects how COVID-19 has impacted this market and its growth?

US Life and Non-life Insurance Market Analysis

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).

The effects of COVID on the economy are becoming more apparent every day, and given the current circumstances, it is challenging to fully comprehend all of the effects. The industries it supports have an impact on insurance as well, thus industrial production, healthcare indices, and employment indices will also have an effect on the likelihood of its recovery and expansion.

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.