Market Size of Denmark Property & Casualty Insurance Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.08 Billion |
| Market Size (2029) | USD 4.5 Billion |
| CAGR (2024 - 2029) | 2.00 % |
| Market Concentration | Medium |
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?
Denmark Property Casualty Insurance Market Analysis
The Denmark Property & Casualty Insurance Market size in terms of gross written premiums value is expected to grow from USD 4.08 billion in 2024 to USD 4.5 billion by 2029, at a CAGR of 2% during the forecast period (2024-2029).
Private property, commercial property, and Health & accident are among the leading segments in non-life insurance in Denmark and contributing to a continuous rise of the Property and Casualty market size in Denmark. The Insurance sector in Denmark is characterized as highly developed, with particularly high penetration and density. Non-life insurance penetration in Denmark still exists below life insurance resulting in insurance companies launching a varied range of nonlife insurance products which include P&C insurance as well to increase their market share.
With continuous climate change and increasing loss due to natural calamities in Denmark, P&C insurance has emerged as an essential product to mitigate the risks. Property and Casualty insurance in Denmark has shown a favorable underwriting result with relatively low expense ratios. The value of gross premiums written by property insurance companies in the country had continuously risen with a continuous rise in real estate markers.
Post covid, rising insurance companies in Denmark are completely changing the business model of the insurance sector. Making available insurance facilities online is leading people to choose between varied P&C insurance products from their locations. Out of Insurances taken out online by type, P&C insurance occupies the second largest share after health insurance in Denmark and is expected to drive the market over the forecasted period.
