The overall P&C industry is forecast to finish 2023 with a net combined ratio at 102.2, nearly identical to the final 2022 result of 102.4. Poor personal lines underwriting performance is the key driver in both years, with personal auto forecast at 109.5 in 2023, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman.
Tag: combined ration
Property & Casualty Insurers’ Q1 Net Income Grows, Profitability Ratios Worsen
Private property/casualty insurers in the United States saw their net income after taxes increase in the first quarter of 2021 from a year earlier, while their combined ratio – a key measure of underwriting profitability – worsened, according to a new report from Verisk, a leading global data analytics provider, and the American Property Casualty… Continue reading Property & Casualty Insurers’ Q1 Net Income Grows, Profitability Ratios Worsen