Market Size of Property & Casualty Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 10.14 Billion |
| Market Size (2029) | USD 12.49 Billion |
| CAGR (2024 - 2029) | 4.25 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Property & Casualty Insurance Market Analysis
The Property & Casualty Insurance Market size in terms of premium value is expected to grow from USD 10.14 billion in 2024 to USD 12.49 billion by 2029, at a CAGR of 4.25% during the forecast period (2024-2029).
The outbreak of the Covid-19 pandemic had an impact on the Property and Casualty Insurance Market in Sweden, like on many other industries and markets around the world. One of the major impacts of the pandemic was the increased claims related to business interruption, event cancellation, and travel insurance. Many policyholders looked to their insurance policies for coverage as businesses shut down or faced significant disruption due to government-mandated lockdowns and restrictions. It led to a surge in claims and payouts by insurers. Additionally, the pandemic led to changes in consumer behavior and demand for insurance products. For example, there was an increased demand for insurance coverage for working from home, cyber risks, and healthcare.
The Property and Casualty Insurance Market in Sweden is an important sector of the Swedish insurance industry, providing coverage for various risks related to property and liability. Property and Casualty insurance policies cover damages to property, theft, fire, and other related risks. Liability insurance, on the other hand, covers damages caused by the insured to third parties.
The Swedish insurance market is highly regulated, with the financial supervisory authority overseeing the industry. The authority sets minimum capital requirements, ensures insurers maintain sufficient reserves, and monitors compliance with laws and regulations. The Property and Casualty Insurance Market in Sweden is essential to the Swedish insurance industry, providing coverage for various risks and contributing significantly to the country's economy.
