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You are here: Home / News / Insurance Economic Drivers Could Outperform U.S. Economy By 2025 But Major Hurdles Remain

Insurance Economic Drivers Could Outperform U.S. Economy By 2025 But Major Hurdles Remain

October 18, 2023 By CollisionWeek Editor

The economic drivers of the U.S. property/casualty (P/C) insurance industry could cumulatively expand faster than the nation’s gross domestic product (GDP) in 2024 and may outperform the overall U.S. economy by 2025, according to the Insurance Information Institute’s (Triple-I) latest Insurance Economics Outlook.

“Growth drivers specific to P/C performance have been improving faster in 2023 than the rest of the U.S. economy, after underperforming the wider economy three years in a row,” writes Michel Léonard, Ph.D., CBE, chief economist and data scientist, Triple-I, in the organization’s Q4 2023 Outlook. “We forecast P/C growth of 2.1 percent in 2023, slightly above

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Filed Under: News Tagged With: Insurance Information Institute, Property Casualty Insurance

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