This question is about insurance industry statistics.

Is the U.S. insurance industry growing?

By Zippia Team - Jun. 29, 2022

Yes, the U.S. Insurance industry is growing. As a whole, the global industry is expected to have a CAGR of 8.5% through 2020, but the numbers are even more pronounced in the U.S. This is especially true for certain types of insurance, for instance:

From 2017 to 2018 alone, net income for Property and casualty insurance companies increased from $38.7 billion to $57.9 billion (49.5%).
15% of Americans agree they are more likely to purchase life insurance due to the impact of COVID-19.
Since the start of the Pandemic, the take-up rate for cyber insurance has increased by 78%.

And those are just a few examples, as insurers are predicting enhanced growth and increased prices in years to come.

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