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You are here: Home / News / Property and Casualty Insurers See $5.6B Net Underwriting Loss in First Nine Months of 2021

Property and Casualty Insurers See $5.6B Net Underwriting Loss in First Nine Months of 2021

February 15, 2022 By CollisionWeek Editor

Underwriting loss driven by increase in non-catastrophe losses from several lines, including personal auto.

Private U.S. property/casualty insurers saw a $5.6 billion net underwriting loss in the first nine months of 2021, as non-catastrophe losses returned to pre-pandemic levels, according to a report by Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property Casualty Insurance Association (APCIA).

Direct losses for personal auto liability increased 14.1% in nine months 2021 and the industry’s combined ratio—a critical measure of insurer profitability—worsened to 99.5%, from 98.8% a year earlier. While non-catastrophic losses were on the rise, insured catastrophe-related losses remained high.

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Filed Under: News Tagged With: American Property Casualty Insurance Association, Profitability, Property Casualty Insurance, Verisk

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