The property insurance market, more commonly referred to as the property and casualty or P&C market, comprises all the major insurance services outside of health and life insurance. As you might expect, it’s a huge slice of the insurance industry: The U.S. P&C market alone is estimated at $618 billion annually.
Following the financial crisis of 2008, the global P&C market has remained in slow growth mode for over a decade, with premium writing (the industry’s primary source of income) averaging 2% expansion a year.