Insurer Progressive Corp reported a better-than expected first-quarter profit on Friday, helped by strong demand for its personal and property insurance policies, sending its shares up 2% in early trading.
Tag: combined loss ratio
Underwriting Losses Persist in U.S. P/C Industry, Total $21.2B in 2023
The U.S. property/casualty (P/C) industry recorded a $21.2 billion net underwriting loss in 2023, slightly improving upon the $24.9 billion loss recorded in the prior year, according to a new AM Best report.
Inflation, Distraction Driving, Legal System Abuse Impacting Auto Insurance Market
According to the Insurance Information Institute, the U.S. personal auto insurance market is being hit hard in this inflationary environment, with sharp deteriorations in combined and loss ratios expected to continue for the foreseeable future (Triple-I). In its recently updated 2022 Trends and Insights: Personal Auto Insurance Rates, the Triple-I noted that the combined ratio… Continue reading Inflation, Distraction Driving, Legal System Abuse Impacting Auto Insurance Market