Wikilah admin: Publish curated Definition page (Property & casualty) — overrides legacy glossary entry

2026-07-25T05:19:29Z

Publish curated Definition page (Property & casualty) — overrides legacy glossary entry

← Older revision		Revision as of 13:19, 25 July 2026
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	{{Infobox definition		{{Infobox definition
	\| category = business ~~segment~~		\| category = business mix
	\| abbreviation = P&C		\| abbreviation = P&C
	\| aliases = Non-life insurance; Property and casualty		\| aliases = Non-life insurance; Property and casualty
	\| related terms = Life & health; Business ~~segment~~; Gross written premiums; Net written premiums; AXA XL		\| related terms = Life & health; Business mix; Gross written premiums; Net written premiums; AXA XL
	\| short definition = The insurance business segment covering damage to property and liability to third parties, including motor, home, commercial and specialty lines.		\| short definition = The insurance business segment covering damage to property and liability to third parties, including motor, home, commercial and specialty lines.
	\| review status = authored		\| review status = authored

Wikilah admin: Publish curated Definition page (Property & casualty) — overrides legacy glossary entry

2026-07-24T15:03:40Z

Publish curated Definition page (Property & casualty) — overrides legacy glossary entry

New page

{{Infobox definition
| category = business segment
| abbreviation = P&C
| aliases = Non-life insurance; Property and casualty
| related terms = Life & health; Business segment; Gross written premiums; Net written premiums; AXA XL
| short definition = The insurance business segment covering damage to property and liability to third parties, including motor, home, commercial and specialty lines.
| review status = authored
}}

🚗 '''Property & casualty''' is the insurance business segment that covers damage to things and liability to third parties: motor, home, commercial property, general liability, and the specialty lines that insure everything from ships to cyber attacks. Insurers abbreviate it P&C. Europe often says non-life, the UK and parts of Asia say general insurance, and all three names bound the same territory: contracts that pay when an insured event damages property or creates a legal obligation, as opposed to cover tied to human life and health.

⏱️ The segment's economics run on short policies and uncertain claims. Most P&C contracts last a year, so the insurer reprices its whole book annually, and the premiums it earns must carry claims that sometimes surface years later in long-tail liability lines. The combined ratio judges profitability: claims plus expenses over premiums, with a figure below 100 percent meaning the underwriting itself made money. Catastrophes are the segment's signature risk. A single hurricane season can consume years of margin, which is why P&C insurers buy reinsurance and watch their aggregation limits carefully.

🌪️ For a composite group, the segment supplies annually repricing earnings that complement the long-duration economics of life business: P&C results respond quickly to rate action but swing with catastrophe and inflation surprises. Pricing moves in cycles, hardening after heavy losses and softening as capital returns, so a P&C growth figure means little without knowing where the cycle stands. In group reporting the segment cuts across organizational units; at AXA, most units write P&C, and AXA XL writes almost nothing else.

Definition:Property & casualty - Revision history

Wikilah admin: Publish curated Definition page (Property & casualty) — overrides legacy glossary entry

Wikilah admin: Publish curated Definition page (Property & casualty) — overrides legacy glossary entry