Market Size of US Homeowner's Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.00 % |
| 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?
US Homeowners Insurance Market Analysis
The property/casualty insurance sector is one of the highly valuated sectors in the market in the current scenario, irrespective of the increases in pricing and a low-interest rate. Due to the catastrophic concerns, the property/casualty insurance industry stood at approximately $800 Billions.
COVID-19 experience during the first quarter of 2020 demonstrated, pandemic-related losses are correlated with both financial market losses and other insurance losses. During the first quarter of 2020, the policyholder surplus of the U.S. property-casualty insurance industry fell by 9.3% to $744.9 billion, due in large part to a sharp decline in asset prices as well as the establishment of COVID-19 loss reserves across numerous lines of insurance.
The profits generated by insurance companies is accounted by investment income from capital and surplus reserves. Money is set aside as loss reserves and unearned premium reserves in the United States. From underwriting operations, whenever there are losses, they are offset from their investment planning.
