Our Property and Casualty Market Update serves as a sequel to the 2024 Property and Casualty Market Outlook published last December.
As we prepare our flagship 2025 Market Outlook report, we hope you'll enjoy this insightful update.
Download the update
2024 Property & Casualty Market Update
Average property and casualty insurance rate increase in 2024 Q2, down from 7.7% the previous quarter
5.2%
The U.S. Property and Casualty market has begun to stabilize. Overall, insurers appear relatively confident in their pricing and underwriting strategies. Rate increases have slowed, and capacity has improved in numerous segments. Current rate levels are attracting new capital into the market, improving capacity and creating competition.
Download the full update above.
Key highlights
Insured property losses in 2024 Q1, up from the median of $12 billion for the same period over the previous 20 years.
$17 billion
Projected Commercial Auto price increases for the second half of 2024.
7%-10%
Increase in submissions for Parametric Insurance, which is based on an upfront agreement of payment upon the occurrence of an event, rather than on a post-event assessment of loss.
500%