Insurance Information Institute says property/casualty insurance performance likely to gain momentum on Federal Reserve interest rate cuts.
The economic drivers of the U.S. property/casualty (P/C) insurance industry are now growing faster than the nation’s Gross Domestic Product (GDP) and are expected to gain further momentum in the event of Federal Reserve monetary rate cuts, according to the Insurance Information Institute’s (Triple-I) latest Insurance Economics Outlook.
“We’ve been forecasting that P/C underwriting growth would catch up on overall GDP and it has,” said Michel Léonard, Ph.D., CBE, chief economist and data scientist, Triple-I, in the organization’s April 2024 Outlook. “Triple-I forecasts
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