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
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.