Increase marks sharp turnaround from $21 billion net underwriting loss a year earlier.
Private U.S. property/casualty insurers reported a $4.7 billion net underwriting gain in nine-months 2018, a sharp turnaround from a $21.0 billion net underwriting loss a year earlier, helped by a rare decline in overall losses and loss adjustment expenses (LLAE) and significant premium growth, according to ISO, a Verisk (Nasdaq:VRSK) business, and the American Property Casualty Insurance Association (APCI).
Overall LLAE decreased 0.5 percent to $310.2 billion in nine-months 2018, driven largely by a $13.1 billion decline in net LLAE from catastrophes.
Net written premiums grew 11.4
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