Market Size of Norway Property & Casualty Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | High |
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?
Norway Property & Casualty Insurance Market Analysis
Norway's Property and Casualty Insurance are expected to register a CAGR of 6% for the forecasted period.
The Corona-Virus had very little impact on the property and casualty insurance. The segment showed slight growth in terms of premium written compared to the previous year's.
Norway has approximately one-fourth of the total Nordic Property and Casualty Insurance, making it the third-largest country in Nordic Property and Casualty Insurance. The value of the P&C insurance sector in Norway was approximately EUR XX bn in 2019. The sector experienced a growth rate of 1.7% in earned premiums in 2020 compared to the previous year. The Norwegian insurance market is highly concentrated. A total of 74.5% of all premiums were written in 2020 by the four largest life and P&C insurance companies or groups, while the rest of 25% is contributed by the rest of the firms. Motor vehicle insurance contributes the largest share, almost one-third of Norway's property and casualty insurance. Insurance against Fire and other property damage contributes to the second-largest share. Similarly, Marine, Transport, and Aviation Insurance contribute to Norway's third largest share of Property and Casualty insurance.
