GITNUXREPORT 2026

Commercial Insurance Industry Statistics

The global commercial insurance industry experienced strong, widespread growth in 2023.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

Our Commitment to Accuracy

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Statistic 1

In 2023, incurred losses for U.S. commercial casualty insurance totaled $120 billion, with a loss ratio of 68%.

Statistic 2

Global commercial property catastrophe losses reached $85 billion in 2023.

Statistic 3

U.S. workers' comp claims frequency declined 2.1% in 2023, with average claim cost up 5.8%.

Statistic 4

Europe commercial motor claims payouts €45 billion in 2023, bodily injury claims up 12%.

Statistic 5

Worldwide cyber insurance claims exceeded $4.5 billion in 2023, average claim $4.2 million.

Statistic 6

U.S. commercial auto liability incurred losses $35 billion in 2022, loss ratio 82%.

Statistic 7

Asia-Pacific commercial property claims hit $30 billion in 2023 due to typhoons.

Statistic 8

UK public liability claims settled £2.8 billion in 2023, average claim £45,000.

Statistic 9

Global D&O claims severity rose 18% to $12 million average in 2023.

Statistic 10

Canada commercial property losses CAD 8 billion in 2023, wildfire impact $3B.

Statistic 11

U.S. general liability claims frequency down 1.5%, severity up 6.2% in 2023.

Statistic 12

Australia commercial liability claims AUD 4.5 billion 2023.

Statistic 13

India commercial vehicle claims INR 25,000 crore in FY2023.

Statistic 14

Global marine hull claims $10 billion in 2023.

Statistic 15

France commercial fire claims €5 billion 2023.

Statistic 16

U.S. products liability incurred losses $15 billion 2023, ratio 75%.

Statistic 17

China enterprise property claims RMB 250 billion 2023.

Statistic 18

UK employers' liability claims £1.2 billion paid 2023.

Statistic 19

Global employment practices claims $2 billion 2023, up 20%.

Statistic 20

Germany industrial fire claims €3 billion 2023.

Statistic 21

Brazil commercial claims BRL 40 billion 2023.

Statistic 22

Japan earthquake-related commercial claims JPY 1.5 trillion 2023.

Statistic 23

U.S. environmental impairment liability claims $1.8 billion 2023.

Statistic 24

Netherlands business interruption claims €2.5 billion 2023.

Statistic 25

South Korea workers' comp claims KRW 20 trillion 2023.

Statistic 26

Italy construction claims €6 billion 2023.

Statistic 27

Singapore cyber claims SGD 800 million 2023.

Statistic 28

Global commercial casualty combined ratio averaged 98.5% in 2023.

Statistic 29

U.S. commercial property combined ratio was 105.2% in 2023 due to cat losses.

Statistic 30

In 2023, the global commercial insurance market size reached $1.2 trillion, marking a 5.2% year-over-year growth driven by rising cyber risks and supply chain disruptions.

Statistic 31

The U.S. commercial property and casualty insurance market grew to $326 billion in direct premiums written in 2022, up 8.1% from 2021.

Statistic 32

Europe's commercial lines insurance premiums expanded by 4.7% in 2023 to €450 billion, fueled by liability and D&O coverage demand.

Statistic 33

Asia-Pacific commercial insurance market projected to grow at a CAGR of 7.8% from 2023 to 2030, reaching $850 billion by 2030.

Statistic 34

In 2022, the UK commercial insurance sector saw a 6.3% increase in gross written premiums to £45.7 billion.

Statistic 35

Global commercial P&C insurance penetration rate stood at 2.1% of GDP in 2023, up from 1.9% in 2020.

Statistic 36

U.S. commercial multi-peril premiums grew 9.2% to $85.4 billion in 2022.

Statistic 37

China's commercial insurance market expanded 12.5% in 2023 to RMB 1.2 trillion.

Statistic 38

The commercial insurance market in Latin America grew 6.8% in 2022 to $120 billion.

Statistic 39

Projected global commercial insurance CAGR of 5.5% from 2024-2028 due to climate risks.

Statistic 40

Canada’s commercial P&C premiums increased 7.4% to CAD 38 billion in 2023.

Statistic 41

Middle East commercial insurance market hit $25 billion in 2023, growing 8.2%.

Statistic 42

Australia’s commercial insurance GWP rose 5.9% to AUD 45 billion in FY2023.

Statistic 43

India’s commercial non-life insurance premiums grew 15.2% to INR 1.05 lakh crore in FY2023.

Statistic 44

South Africa commercial short-term insurance market expanded 4.1% to ZAR 120 billion in 2023.

Statistic 45

Global reinsurance for commercial lines grew 6.7% to $280 billion in 2023.

Statistic 46

U.S. commercial auto insurance market size was $70 billion in 2023, up 4.5%.

Statistic 47

Commercial liability insurance global market reached $450 billion in 2022.

Statistic 48

Japan’s commercial P&C premiums increased 3.8% to JPY 8.5 trillion in FY2023.

Statistic 49

Brazil commercial insurance grew 9.1% to BRL 85 billion in 2023.

Statistic 50

Commercial cyber insurance market surged 25% to $15 billion globally in 2023.

Statistic 51

France commercial insurance premiums up 4.2% to €110 billion in 2023.

Statistic 52

Germany’s commercial non-life market grew 5.1% to €150 billion in 2023.

Statistic 53

Italy commercial P&C GWP rose 3.9% to €55 billion in 2023.

Statistic 54

Spain’s commercial insurance market expanded 6.4% to €42 billion in 2023.

Statistic 55

Netherlands commercial premiums grew 4.8% to €25 billion in 2023.

Statistic 56

Sweden commercial non-life insurance up 5.3% to SEK 90 billion in 2023.

Statistic 57

Singapore commercial insurance GWP increased 7.2% to SGD 12 billion in 2023.

Statistic 58

UAE commercial insurance market hit AED 35 billion, growing 9.5% in 2023.

Statistic 59

Global commercial insurance market expected to reach $1.8 trillion by 2030 at 6.1% CAGR.

Statistic 60

In 2023, U.S. commercial property insurance premiums totaled $75 billion, representing 23% of total commercial P&C premiums.

Statistic 61

Global commercial liability premiums reached $500 billion in 2023, up 6.8% from prior year.

Statistic 62

U.S. workers' compensation premiums written were $55.2 billion in 2022, increasing 7.3%.

Statistic 63

Europe commercial auto premiums grew to €120 billion in 2023, a 4.5% rise.

Statistic 64

Worldwide commercial D&O insurance premiums hit $40 billion in 2023, surging 15%.

Statistic 65

U.S. commercial multi-line premiums were $90 billion in 2023.

Statistic 66

Asia commercial property premiums increased to $200 billion in 2023, up 8.9%.

Statistic 67

UK employers' liability premiums totaled £3.5 billion in 2023.

Statistic 68

Global commercial fire insurance premiums stood at $150 billion in 2022.

Statistic 69

Canada commercial property premiums reached CAD 15 billion in 2023.

Statistic 70

U.S. excess and surplus lines premiums grew to $90 billion in 2023.

Statistic 71

Australia public liability premiums were AUD 8 billion in FY2023.

Statistic 72

India commercial vehicle insurance premiums hit INR 45,000 crore in FY2023.

Statistic 73

Global commercial marine premiums totaled $35 billion in 2023.

Statistic 74

France professional indemnity premiums €12 billion in 2023.

Statistic 75

U.S. general liability premiums $65 billion in 2023.

Statistic 76

China enterprise property insurance premiums RMB 400 billion in 2023.

Statistic 77

UK commercial combined policies generated £20 billion in GWP 2023.

Statistic 78

Global EPL insurance premiums $10 billion in 2023.

Statistic 79

Germany trade credit premiums €8 billion in 2023.

Statistic 80

Brazil group health premiums for commercial BRL 20 billion 2023.

Statistic 81

Japan liability premiums JPY 2 trillion in FY2023.

Statistic 82

U.S. boiler and machinery premiums $4.5 billion 2023.

Statistic 83

Netherlands cargo insurance premiums €3 billion 2023.

Statistic 84

South Korea commercial P&C premiums KRW 50 trillion 2023.

Statistic 85

Italy product liability premiums €4 billion 2023.

Statistic 86

Singapore directors and officers premiums SGD 1.2 billion 2023.

Statistic 87

Global commercial insurance net premiums earned grew 5.4% to $950 billion in 2023.

Statistic 88

U.S. commercial P&C net premiums written increased 7.2% to $280 billion in 2022.

Statistic 89

65% of U.S. commercial insurers adopted AI for underwriting in 2023.

Statistic 90

Cyber insurance penetration in large corporates reached 60% globally in 2023.

Statistic 91

ESG-related commercial policies grew 25% to cover $200 billion risks in 2023.

Statistic 92

Parametric insurance adoption in commercial supply chain up 40% since 2022.

Statistic 93

U.S. commercial insurance digital platforms usage 75% of brokers in 2023.

Statistic 94

Global usage-based commercial auto insurance policies tripled to 15% market share 2023.

Statistic 95

Climate risk modeling integrated in 80% of commercial property underwriting 2023.

Statistic 96

D&O claims from shareholder activism rose 30% in 2023.

Statistic 97

Commercial insurance M&A deals hit 450 globally in 2023, value $50 billion.

Statistic 98

Insurtech investment in commercial lines $12 billion in 2023.

Statistic 99

Supply chain insurance policies surged 35% amid disruptions 2023.

Statistic 100

U.S. small business commercial insurance attachment rates 55% in 2023.

Statistic 101

Blockchain used in 20% of commercial reinsurance contracts 2023.

Statistic 102

Mental health coverage in EPL policies standard in 70% EU firms 2023.

Statistic 103

Commercial drone liability insurance premiums up 50% to $2 billion 2023.

Statistic 104

Gig economy commercial coverage products launched by 40% of insurers 2023.

Statistic 105

Net-zero committed insurers represent 45% of commercial market capacity 2023.

Statistic 106

API integrations in commercial quoting reduced cycle time 60% for top insurers 2023.

Statistic 107

Product recall insurance take-up 25% in food manufacturing segment 2023.

Statistic 108

Commercial retrocession market grew 12% to support cat capacity 2023.

Statistic 109

Women in commercial underwriting roles 35% globally 2023.

Statistic 110

IoT data used in 50% commercial risk assessment 2023.

Statistic 111

Captive insurance for commercial risks up 18% to 2,000 new formations 2023.

Statistic 112

Social inflation impacted 60% of U.S. liability renewals 2023.

Statistic 113

Commercial insurance marketplaces captured 15% of SME premiums 2023.

Statistic 114

Generative AI pilots in claims processing 55% of large carriers 2023.

Statistic 115

In 2023, U.S. commercial P&C underwriting profit margin was 4.2%, up from -1.5% in 2022.

Statistic 116

Global commercial insurers' return on equity averaged 10.8% in 2023.

Statistic 117

Europe commercial lines combined ratio improved to 95.3% in 2023 from 98.7%.

Statistic 118

U.S. workers' comp combined ratio 92.1% in 2023.

Statistic 119

Worldwide cyber insurance loss ratio 45% in 2023.

Statistic 120

U.S. commercial casualty underwriting gain $8 billion in 2023.

Statistic 121

Asia commercial P&C expense ratio averaged 28.5% in 2023.

Statistic 122

UK commercial combined ratio 94.8% in 2023.

Statistic 123

Global D&O underwriting profit $2.5 billion 2023.

Statistic 124

Canada commercial lines combined ratio 96.2% in 2023.

Statistic 125

U.S. E&S lines combined ratio 89.4% in 2023.

Statistic 126

Australia commercial underwriting profit AUD 3.2 billion FY2023.

Statistic 127

India non-life underwriting ratio improved to 88% in FY2023.

Statistic 128

Global marine combined ratio 102% in 2023.

Statistic 129

France commercial P&C profit margin 5.1% 2023.

Statistic 130

U.S. professional liability combined ratio 97.5% 2023.

Statistic 131

China P&C underwriting income RMB 150 billion 2023.

Statistic 132

UK liability lines combined ratio 91.2% 2023.

Statistic 133

Global trade credit loss ratio 55% 2023.

Statistic 134

Germany non-life underwriting ROE 11.5% 2023.

Statistic 135

Brazil commercial underwriting profit BRL 10 billion 2023.

Statistic 136

Japan P&C combined ratio 98.8% FY2023.

Statistic 137

U.S. ocean marine combined ratio 110.3% 2023.

Statistic 138

Netherlands commercial expense ratio 26.8% 2023.

Statistic 139

South Korea non-life combined ratio 93.4% 2023.

Statistic 140

Italy D&O combined ratio 92% 2023.

Statistic 141

Singapore commercial lines profit SGD 2 billion 2023.

Statistic 142

U.S. commercial multi-peril underwriting loss $1.2 billion 2023.

Statistic 143

Global commercial insurance investment yield averaged 4.2% in 2023.

1/143

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Despite the impressive figures—like the global market hitting $1.2 trillion—the commercial insurance industry’s 2023 story wasn't just about growth; it was a complex saga of navigating surging cyber risks, costly climate disasters, and a rapidly evolving risk landscape.

Key Takeaways

In 2023, the global commercial insurance market size reached $1.2 trillion, marking a 5.2% year-over-year growth driven by rising cyber risks and supply chain disruptions.
The U.S. commercial property and casualty insurance market grew to $326 billion in direct premiums written in 2022, up 8.1% from 2021.
Europe's commercial lines insurance premiums expanded by 4.7% in 2023 to €450 billion, fueled by liability and D&O coverage demand.
In 2023, U.S. commercial property insurance premiums totaled $75 billion, representing 23% of total commercial P&C premiums.
Global commercial liability premiums reached $500 billion in 2023, up 6.8% from prior year.
U.S. workers' compensation premiums written were $55.2 billion in 2022, increasing 7.3%.
In 2023, incurred losses for U.S. commercial casualty insurance totaled $120 billion, with a loss ratio of 68%.
Global commercial property catastrophe losses reached $85 billion in 2023.
U.S. workers' comp claims frequency declined 2.1% in 2023, with average claim cost up 5.8%.
In 2023, U.S. commercial P&C underwriting profit margin was 4.2%, up from -1.5% in 2022.
Global commercial insurers' return on equity averaged 10.8% in 2023.
Europe commercial lines combined ratio improved to 95.3% in 2023 from 98.7%.
65% of U.S. commercial insurers adopted AI for underwriting in 2023.
Cyber insurance penetration in large corporates reached 60% globally in 2023.
ESG-related commercial policies grew 25% to cover $200 billion risks in 2023.

The global commercial insurance industry experienced strong, widespread growth in 2023.

Claims and Losses

In 2023, incurred losses for U.S. commercial casualty insurance totaled $120 billion, with a loss ratio of 68%.
Global commercial property catastrophe losses reached $85 billion in 2023.
U.S. workers' comp claims frequency declined 2.1% in 2023, with average claim cost up 5.8%.
Europe commercial motor claims payouts €45 billion in 2023, bodily injury claims up 12%.
Worldwide cyber insurance claims exceeded $4.5 billion in 2023, average claim $4.2 million.
U.S. commercial auto liability incurred losses $35 billion in 2022, loss ratio 82%.
Asia-Pacific commercial property claims hit $30 billion in 2023 due to typhoons.
UK public liability claims settled £2.8 billion in 2023, average claim £45,000.
Global D&O claims severity rose 18% to $12 million average in 2023.
Canada commercial property losses CAD 8 billion in 2023, wildfire impact $3B.
U.S. general liability claims frequency down 1.5%, severity up 6.2% in 2023.
Australia commercial liability claims AUD 4.5 billion 2023.
India commercial vehicle claims INR 25,000 crore in FY2023.
Global marine hull claims $10 billion in 2023.
France commercial fire claims €5 billion 2023.
U.S. products liability incurred losses $15 billion 2023, ratio 75%.
China enterprise property claims RMB 250 billion 2023.
UK employers' liability claims £1.2 billion paid 2023.
Global employment practices claims $2 billion 2023, up 20%.
Germany industrial fire claims €3 billion 2023.
Brazil commercial claims BRL 40 billion 2023.
Japan earthquake-related commercial claims JPY 1.5 trillion 2023.
U.S. environmental impairment liability claims $1.8 billion 2023.
Netherlands business interruption claims €2.5 billion 2023.
South Korea workers' comp claims KRW 20 trillion 2023.
Italy construction claims €6 billion 2023.
Singapore cyber claims SGD 800 million 2023.
Global commercial casualty combined ratio averaged 98.5% in 2023.
U.S. commercial property combined ratio was 105.2% in 2023 due to cat losses.

Claims and Losses Interpretation

Amidst a global symphony of rising claim costs, from cyber-attacks to wildfires, the insurance industry is learning the hard way that while disasters come and go, the relentless math of severity over frequency always seems to have the last, very expensive, word.

Market Size and Growth

In 2023, the global commercial insurance market size reached $1.2 trillion, marking a 5.2% year-over-year growth driven by rising cyber risks and supply chain disruptions.
The U.S. commercial property and casualty insurance market grew to $326 billion in direct premiums written in 2022, up 8.1% from 2021.
Europe's commercial lines insurance premiums expanded by 4.7% in 2023 to €450 billion, fueled by liability and D&O coverage demand.
Asia-Pacific commercial insurance market projected to grow at a CAGR of 7.8% from 2023 to 2030, reaching $850 billion by 2030.
In 2022, the UK commercial insurance sector saw a 6.3% increase in gross written premiums to £45.7 billion.
Global commercial P&C insurance penetration rate stood at 2.1% of GDP in 2023, up from 1.9% in 2020.
U.S. commercial multi-peril premiums grew 9.2% to $85.4 billion in 2022.
China's commercial insurance market expanded 12.5% in 2023 to RMB 1.2 trillion.
The commercial insurance market in Latin America grew 6.8% in 2022 to $120 billion.
Projected global commercial insurance CAGR of 5.5% from 2024-2028 due to climate risks.
Canada’s commercial P&C premiums increased 7.4% to CAD 38 billion in 2023.
Middle East commercial insurance market hit $25 billion in 2023, growing 8.2%.
Australia’s commercial insurance GWP rose 5.9% to AUD 45 billion in FY2023.
India’s commercial non-life insurance premiums grew 15.2% to INR 1.05 lakh crore in FY2023.
South Africa commercial short-term insurance market expanded 4.1% to ZAR 120 billion in 2023.
Global reinsurance for commercial lines grew 6.7% to $280 billion in 2023.
U.S. commercial auto insurance market size was $70 billion in 2023, up 4.5%.
Commercial liability insurance global market reached $450 billion in 2022.
Japan’s commercial P&C premiums increased 3.8% to JPY 8.5 trillion in FY2023.
Brazil commercial insurance grew 9.1% to BRL 85 billion in 2023.
Commercial cyber insurance market surged 25% to $15 billion globally in 2023.
France commercial insurance premiums up 4.2% to €110 billion in 2023.
Germany’s commercial non-life market grew 5.1% to €150 billion in 2023.
Italy commercial P&C GWP rose 3.9% to €55 billion in 2023.
Spain’s commercial insurance market expanded 6.4% to €42 billion in 2023.
Netherlands commercial premiums grew 4.8% to €25 billion in 2023.
Sweden commercial non-life insurance up 5.3% to SEK 90 billion in 2023.
Singapore commercial insurance GWP increased 7.2% to SGD 12 billion in 2023.
UAE commercial insurance market hit AED 35 billion, growing 9.5% in 2023.
Global commercial insurance market expected to reach $1.8 trillion by 2030 at 6.1% CAGR.

Market Size and Growth Interpretation

In a world increasingly defined by digital threats, logistical chaos, and a volatile climate, it seems the global business community has collectively decided that paying a premium for peace of mind is no longer a cost but a critical capital investment, as evidenced by the relentless, multi-trillion-dollar march of commercial insurance premiums across every continent.

Premiums and Revenue

In 2023, U.S. commercial property insurance premiums totaled $75 billion, representing 23% of total commercial P&C premiums.
Global commercial liability premiums reached $500 billion in 2023, up 6.8% from prior year.
U.S. workers' compensation premiums written were $55.2 billion in 2022, increasing 7.3%.
Europe commercial auto premiums grew to €120 billion in 2023, a 4.5% rise.
Worldwide commercial D&O insurance premiums hit $40 billion in 2023, surging 15%.
U.S. commercial multi-line premiums were $90 billion in 2023.
Asia commercial property premiums increased to $200 billion in 2023, up 8.9%.
UK employers' liability premiums totaled £3.5 billion in 2023.
Global commercial fire insurance premiums stood at $150 billion in 2022.
Canada commercial property premiums reached CAD 15 billion in 2023.
U.S. excess and surplus lines premiums grew to $90 billion in 2023.
Australia public liability premiums were AUD 8 billion in FY2023.
India commercial vehicle insurance premiums hit INR 45,000 crore in FY2023.
Global commercial marine premiums totaled $35 billion in 2023.
France professional indemnity premiums €12 billion in 2023.
U.S. general liability premiums $65 billion in 2023.
China enterprise property insurance premiums RMB 400 billion in 2023.
UK commercial combined policies generated £20 billion in GWP 2023.
Global EPL insurance premiums $10 billion in 2023.
Germany trade credit premiums €8 billion in 2023.
Brazil group health premiums for commercial BRL 20 billion 2023.
Japan liability premiums JPY 2 trillion in FY2023.
U.S. boiler and machinery premiums $4.5 billion 2023.
Netherlands cargo insurance premiums €3 billion 2023.
South Korea commercial P&C premiums KRW 50 trillion 2023.
Italy product liability premiums €4 billion 2023.
Singapore directors and officers premiums SGD 1.2 billion 2023.
Global commercial insurance net premiums earned grew 5.4% to $950 billion in 2023.
U.S. commercial P&C net premiums written increased 7.2% to $280 billion in 2022.

Premiums and Revenue Interpretation

It’s a stark reminder that the global business landscape is essentially a multi-trillion-dollar game of "don't break it, but if you do, we'd better be paid handsomely."

Trends and Segments

65% of U.S. commercial insurers adopted AI for underwriting in 2023.
Cyber insurance penetration in large corporates reached 60% globally in 2023.
ESG-related commercial policies grew 25% to cover $200 billion risks in 2023.
Parametric insurance adoption in commercial supply chain up 40% since 2022.
U.S. commercial insurance digital platforms usage 75% of brokers in 2023.
Global usage-based commercial auto insurance policies tripled to 15% market share 2023.
Climate risk modeling integrated in 80% of commercial property underwriting 2023.
D&O claims from shareholder activism rose 30% in 2023.
Commercial insurance M&A deals hit 450 globally in 2023, value $50 billion.
Insurtech investment in commercial lines $12 billion in 2023.
Supply chain insurance policies surged 35% amid disruptions 2023.
U.S. small business commercial insurance attachment rates 55% in 2023.
Blockchain used in 20% of commercial reinsurance contracts 2023.
Mental health coverage in EPL policies standard in 70% EU firms 2023.
Commercial drone liability insurance premiums up 50% to $2 billion 2023.
Gig economy commercial coverage products launched by 40% of insurers 2023.
Net-zero committed insurers represent 45% of commercial market capacity 2023.
API integrations in commercial quoting reduced cycle time 60% for top insurers 2023.
Product recall insurance take-up 25% in food manufacturing segment 2023.
Commercial retrocession market grew 12% to support cat capacity 2023.
Women in commercial underwriting roles 35% globally 2023.
IoT data used in 50% commercial risk assessment 2023.
Captive insurance for commercial risks up 18% to 2,000 new formations 2023.
Social inflation impacted 60% of U.S. liability renewals 2023.
Commercial insurance marketplaces captured 15% of SME premiums 2023.
Generative AI pilots in claims processing 55% of large carriers 2023.

Trends and Segments Interpretation

The commercial insurance industry is frantically sprinting toward a digital, climate-conscious, and legally precarious future, where AI underwrites risks almost as fast as shareholder activists and climate events can create them.

Underwriting and Profitability

In 2023, U.S. commercial P&C underwriting profit margin was 4.2%, up from -1.5% in 2022.
Global commercial insurers' return on equity averaged 10.8% in 2023.
Europe commercial lines combined ratio improved to 95.3% in 2023 from 98.7%.
U.S. workers' comp combined ratio 92.1% in 2023.
Worldwide cyber insurance loss ratio 45% in 2023.
U.S. commercial casualty underwriting gain $8 billion in 2023.
Asia commercial P&C expense ratio averaged 28.5% in 2023.
UK commercial combined ratio 94.8% in 2023.
Global D&O underwriting profit $2.5 billion 2023.
Canada commercial lines combined ratio 96.2% in 2023.
U.S. E&S lines combined ratio 89.4% in 2023.
Australia commercial underwriting profit AUD 3.2 billion FY2023.
India non-life underwriting ratio improved to 88% in FY2023.
Global marine combined ratio 102% in 2023.
France commercial P&C profit margin 5.1% 2023.
U.S. professional liability combined ratio 97.5% 2023.
China P&C underwriting income RMB 150 billion 2023.
UK liability lines combined ratio 91.2% 2023.
Global trade credit loss ratio 55% 2023.
Germany non-life underwriting ROE 11.5% 2023.
Brazil commercial underwriting profit BRL 10 billion 2023.
Japan P&C combined ratio 98.8% FY2023.
U.S. ocean marine combined ratio 110.3% 2023.
Netherlands commercial expense ratio 26.8% 2023.
South Korea non-life combined ratio 93.4% 2023.
Italy D&O combined ratio 92% 2023.
Singapore commercial lines profit SGD 2 billion 2023.
U.S. commercial multi-peril underwriting loss $1.2 billion 2023.
Global commercial insurance investment yield averaged 4.2% in 2023.

Underwriting and Profitability Interpretation

After a global tour of numbers that hopscotched from a healthy cyber bottom line to a deep blue ocean of marine losses, it seems the insurance industry's 2023 report card reads: "Profitable, but with enough red ink in the right places to keep the actuaries from getting too comfortable."