Property Insurance Market Report 2025 (Global Edition)

Global Property Insurance Market Report 2025 Market Size Split by Coverage (Fire and Theft, House Damage, Floods and Earthquake, Others), by End User (Landlords, Homeowners, Renters, Others), by Appli...

Property Insurance Market Report Description

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Property Insurance Market Insights Video

Competitive Landscape of the Property Insurance Market

The competitive landscape of the property insurance marketplace is characterized by a diverse array of insurers, starting from worldwide giants to specialized neighborhood providers. Key gamers compete on elements such as coverage coverage, pricing, customer service, and technological innovation. Major insurers leverage superior analytics and digital gear to enhance risk assessment and streamline claims processing. Additionally, the upward push of insurtech startups introduces new opposition by way of presenting progressive, person-pleasant answers and custom-designed coverage alternatives, in addition to riding marketplace dynamics.

July 2021: Property insurance was first made available to German small and medium-sized enterprises, or "Mittelstand," by Berkshire Hathaway Specialty Insurance Co. Source: https://e-space.mmu.ac.uk/627779/1/20210513_WYLEGALA_PhD_EE-in-a-global-context.pdf September 2021: The world's sixth-largest property and casualty insurer in terms of gross written premium in 2020, Liberty Mutual Insurance, a Fortune 100 company, and Canada's top online insurance provider, APOLLO Insurance, worked together to add retail store insurance to APOLLO's rapidly growing portfolio of digital insurance products. Source: https://www.businesswire.com/news/home/20210922005903/en/APOLLO-Partners-With-Liberty-Mutual-to-Offer-Buy-online-Insurance-for-Retail-Stores#:~:text=VANCOUVER%2C%20British%20Columbia%2D%2D(BUSINESS,retail%20store%20insurance%20to%20APOLLO's February 2021:Aon and Chubb, a property and liability insurance, have joined forces to launch a new digital platform in France specifically for small and medium-sized businesses. The insurer aims to give small businesses \"an effective approach to understanding coverage options and buying insurance online" using the platform. Source: https://news.uk.chubb.com/2021-02-11-Aon-and-Chubb-Launch-New-Digital-Insurance-Platform-in-France-for-Small-and-Medium-Sized-Businesses

Top Companies Market Share in Property Insurance Industry: (In no particular order of Rank)

• State Farm
• Berkshire Hathaway
• Farmers Insurance
• Nationwide
• Zurich
• AIG
• The Hartford
• PICC property and Casualty Company limited.
• Ping An of China
• China Pacific Insurance
• Progressive Group
• Liberty Mutual
• Allstate
• Travelers Group
• USAA
• Chubb
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Property Insurance Market

Which Region Dominates the Property Insurance Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. The assets insurance marketplace in North America is experiencing growth because of growing property values, heightened recognition of danger control, and a growing call for comprehensive coverage. Economic expansion and urban development, in addition, drive marketplace calls. Insurers also specialize in technological improvements and tailored solutions to meet evolving client wishes, fueling the marketplace's expansion.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Property Insurance market. The belongings insurance marketplace in Asia-Pacific is increasing swiftly, driven by urbanization, financial increase, and growing asset values. Rising consciousness of risk management and the need for comprehensive coverage are also contributing to market increase. Insurers within the location are adapting to those adjustments by improving their offerings and leveraging technological improvements to serve a growing client base.

The current report Scope analyzes Property Insurance Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Property Insurance Market Analysis

According to Cognitive Market Research, the global Property Insurance market size was estimated at USD 655484.5 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 262193.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Property Insurance market with a market size of USD 206870.91 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. The nation's natural disasters.
• The Canada Property Insurance market had a market share of USD 31463.26 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Canada's economic growth.
• The Mexico Property Insurance market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 23859.64 million in 2024.

Europe Property Insurance Market Analysis

According to Cognitive Market Research, the global Property Insurance market size was estimated at USD 655484.5 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 196645.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.

• The United Kingdom Property Insurance market had a market share of USD 33036.42 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. In the UK, Property Insurance sales witness an upswing due to the urbanization.
• The France Property Insurance market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 18091.37 million in 2024.
• According to Cognitive Market Research, the German Property Insurance market size was valued at USD 38935.78 million in 2024 and is projected to grow at a CAGR of 7.2% during the forecast period. In Germany, Property Insurance surged due to the globalization.
• The Italy Property Insurance market is projected to witness growth at a CAGR of 6.4% during the forecast period, with a market size of USD 16911.50 million in 2024.
• The Russia Property Insurance market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 30480.03 million in 2024.
• The Spain Property Insurance market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 1956.06 million in 2024
• The Luxembourg Property Insurance market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 6096.01 million in 2024.
• The Portugal Property Insurance market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 4129.55 million in 2024.
• The Greece Property Insurance market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 2359.74 million in 2024.
• Rest of Europe's Property Insurance market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 30480.03 million in 2024.

Asia Pacific Property Insurance Market Analysis

According to Cognitive Market Research, the global Property Insurance market size was estimated at USD 655484.5 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 150761.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Property Insurance market size was valued at USD 67842.65 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Property Insurance surged in China due to the rising property values.
• The Japan Property Insurance market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 20805.08 million in 2024.
• The India Property Insurance market had a market share of USD 18091.37 million in 2024 and is projected to grow at a CAGR of 12.3% during the forecast period. India's technological.
• The South Korean Property Insurance market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 15076.14 million in 2024.
• The Australian Property Insurance market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 7839.59 million in 2024.
• The South East Asia Property Insurance market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 10402.54 million in 2024.
• The Rest of Asia Pacific Property Insurance market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 10704.06 million in 2024.

South America Property Insurance Market Analysis

According to Cognitive Market Research, the global Property Insurance market size was estimated at USD 655484.5 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 32774.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Property Insurance market size was valued at USD 14027.37 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Property Insurances flourished in Brazil due to the increasing awareness.
• Argentina's Property Insurance market had a market share of USD 5506.07 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Argentina's advancements.
• Colombia Property Insurance market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 2916.91 million in 2024.
• Peru Property Insurance market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 2687.49 million in 2024.
• Chile Property Insurance market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 2359.74 million in 2024.
• The Rest of Latin America's Property Insurance market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 5276.65 million in 2024.

Middle East Property Insurance Market Analysis

According to Cognitive Market Research, the global Property Insurance market size was estimated at USD 655484.5 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 13109.69 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031..

• The GCC Countries Property Insurance market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 5610.95 million in 2024. Property Insurance sales flourish due to the insurtech adoption.
• The Egypt Property Insurance market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 1376.52 million in 2024.
• The South Africa Property Insurance market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 2071.33 million in 2024. Property Insurance sales flourish in South Africa due to investment in infrastructure.
• The Turkey Property Insurance market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 1127.43 million in 2024.
• The Nigeria Property Insurance market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 1376.52 million in 2024.
• The Rest of MEA Property Insurance market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 1546.94 million in 2024.

Property Insurance Market Analysis

Property Insurance Market Coverage Segment Analysis

According to Cognitive Market Research, Fire and Theft stands out as the dominant Coverage over the projected period. The assets insurance marketplace is seeing a boom in fire and robbery insurance as awareness of those dangers increases. With growing property values and extra frequent incidents, each residential and commercial asset proprietor is in search of robust protection. Insurers are responding with the aid of providing comprehensive regulations that address hearth and theft dangers, improving insurance alternatives, and improving chance control techniques.

House Damage emerges as the fastest-growing Coverage in the Property Insurance market. The property insurance market is increasing due to increased issues about residence damage from herbal failures and injuries. As property values upward thrust and extreme climate activities come to be greater not unusual, owners are looking for extra complete insurance to shield in opposition to capacity losses. Insurers are enhancing their rules to address those dangers, using boom within the marketplace for house harm coverage.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Property Insurance Industry. Request a Free Sample PDF!

Property Insurance Market End User Segment Analysis

According to Cognitive Market Research, the dominant Coverage is Landlords. The property insurance marketplace is growing among landlords as they are looking to protect their investments from dangers like asset damage and liability claims. Increased rental properties and heightened focus on capability losses drive demand for specialized landlord coverage. Insurers are responding with tailored guidelines that cover each asset and apartment profit losses, catering to the precise needs of landlords.

The fastest-growing Coverage in the Property Insurance market is Homeowners. The property insurance marketplace for owners is increasing as rising belongings values and increased consciousness of risk management power call for. Homeowners are seeking comprehensive coverage to guard against damages, theft, and legal responsibility. Insurers are responding with better policy options, which include insurance for natural failures and different dangers, to meet the evolving wishes of house owners and shield their investments.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Property Insurance Application Segment Analysis

Property Insurance Market Application Segment Analysis

According to Cognitive Market Research, the dominant Coverage is Personal. The personal property insurance marketplace is growing as individuals an increasing number of searching for safety for his or her homes, valuables, and personal liability. Rising asset values and heightened awareness of risks contributed to this boom. Insurers are expanding their offerings with customizable policies that address private belongings and various types of risks, catering to the evolving needs of consumers.

The fastest-growing Coverage in the Property Insurance market is Enterprise. The property insurance marketplace for businesses is expanding due to an improved focus on threat management and the need to guard commercial assets. Growing business investments and publicity to various risks drive demand for complete coverage. Insurers are enhancing their guidelines to address complicated risks, consisting of property harm, commercial enterprise interruption, and liability, catering to the diverse desires of companies.

• Personal
• Enterprise

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion