The U.S. property/casualty (P/C) industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, a significant improvement from the $8.5 billion loss recorded in the same prior-year period, according to a new AM Best report.
Tag: AM Best report
Best’s Market Segment Report: U.S. Medical Professional Liability Segment’s Profitability Buoyed by Net Investment Income
Premium growth for AM Best’s medical professional liability (MPL) composite moderated to 3.6% in 2023, but overall financial results were buoyed by favorable net investment income, according to a new AM Best report.
AM Best Assigns Negative Outlook to U.S. Directors and Officers Insurance Segment
AM Best has assigned a negative outlook to the U.S. directors and officers (D&O) market segment, citing growing competition as a key factor that has led to more capacity and lower pricing.
U.S. Surety Growth and Profitability Bolstered by Public Projects
Demand for surety bonds in the United States continues to rise, especially for performance bonds, which has led to consistent top-line premium growth for this high-performing segment of the insurance industry, according to a new AM Best report.
Best’s Special Report: 2022 U.S. P/C Impairments Update Includes Six Companies
Six U.S. property/casualty companies became impaired in 2022, all of which were placed into insolvent liquidation, according to an AM Best report.
U.S. Personal Auto Insurance Results Worsen as Claims Severity Rises
Following the worst year in the recent past for U.S. personal auto insurers, results continued to slide in the first half of 2023 as the segment posted a direct incurred loss ratio that was more than three percentage points above the one recorded in the same period of 2022, according to a new AM Best report.
U.S. P/C Industry Posts $32B Underwriting Loss in First Nine Months of 2023
The U.S. property/casualty (P/C) industry recorded a $32.2 billion net underwriting loss in the first nine months of 2023, $7.6 billion worse than the underwriting loss posted in the same prior-year period, according to a new AM Best report.
Best’s Special Report: Book Value of Insurers’ Hedge Fund Investments Declines
Insurers’ hedge fund holdings shrank by 9.9% last year to $11.8 billion, reversing a two-year growth trend in this area, according to a new AM Best report.
Best’s Special Report: Catastrophe Losses Drive 2021 US P/C Insurer Impairments
Seventeen insurance company impairments were identified in the U.S. property/casualty industry in 2021, with seven impacted by catastrophe losses resulting from hurricanes, primarily in Louisiana and Florida, according to an AM Best report.
AM Best: U.S. P/C Industry Shows Considerable Resilience Despite Continuing Challenges
Weather-related losses continued for the U.S. property & casualty (P/C) insurance segment in 2022, putting pressure on financial results in a year that also saw a 40-year high for inflation and the second-costliest catastrophe event on record, according to an AM Best report