Market Size and Industry

P&C insurance Finance Market Size

The first premium finance company, Credit Club of Pennsylvania, was established in 1933. However, the premium finance industry in the United States gained significant momentum in the late 1950s with the founding of AFCO, initially known as the "American Four" company. This company was originally co-owned by four distinct insurance firms.

Evolution has been setting the standard in the premium finance industry for over 45 years! After Evolution’s inception in 1979, Credit Club of Pennsylvania became a customer of ours!

In 2024 the P&C (property and casualty) insurance market was worth $954.8 billion.
In 2024 the P&C insurance industry financed roughly $52.2 billion in premium.

That is roughly $204,705,882.35 being financed per working day.

P&C insurance market growth

In 2012 the industry was worth only $468bn.

Jump to 2023, and the National Association of Insurance Commissioners (NAIA) reported that the industry saw staggering growth with a total revenue of $954.8bn on the year. Almost double the total worth the industry had in 2012 in just 11 years. Very few markets can boast such remarkable growth. As it stands, the premium finance industry has seen unrelenting progression every single year since its inception in 1933.

P&C insurance premium financing industry is well established, regulated, collateralized, short term, and renewable form of asset-based lending. Potential growth is fortified by state laws that protect the lenders with the return of unearned premium by law.

After 90 years and with tens of billions of dollars financed every year, this market has proven that getting heavily involved will be worth it and Evolution can help!