Growth in net earned premiums outpaced a slight increase in losses and loss adjustment expenses to result in the U.S. property/casualty industry posting a nine-month 2024 underwriting profit of $4.1 billion versus a loss of $32.1 billion last year. According …
AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to its persistently strong underwriting performance and improved investment returns, which have bolstered operating profitability. Reserve adequacy in the commercial …
Insurance rating agency AM Best today said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. Underwriting results have improved significantly, …
The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in the previous year and the line’s worst underwriting results since at least 2000, according to a new AM Best report. …
The U.S. directors and officer segment in 2023 recorded a direct loss ratio of 50.8—the best result in nearly a decade—but industry rating agency AM Best is not convinced the good times will last. In a special report on U.S. …
For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped adding up. So in March, she finally decided to …
The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that the industry posted a $21.2 billion net underwriting …
AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the year. Additional downgrades of 15 commercial insurers …
The economic losses from the latest round of California storms will be significant, with many of these losses may not be insured because only 2% of California residents have purchased flood insurance, David Blades, associate director, industry research and analytics, …
Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report. “Reinsurers generally have realigned their risk profiles and are in a strong position to …