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You are here: Home / News / Property and Casualty Insurers Experience Underwriting Loss in 2021

Property and Casualty Insurers Experience Underwriting Loss in 2021

June 1, 2022 By CollisionWeek Editor

Auto physical damage written premiums were up 6.5% but direct losses grew 25.1% over pandemic influenced 2020.

 Despite experiencing an underwriting loss, the property/casualty insurance industry ended 2021 strong and able to support policyholders, according to a report from Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property Casualty Insurance Association (APCIA).

In 2021, the insurance industry experienced a $3.8 billion net underwriting loss, after a $5.2 billion underwriting gain in 2020, as incurred losses and loss adjustment expenses grew 11.1% while earned premiums only grew 7.4%. The combined ratio deteriorated as well, to 99.6% after 98.6% in

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

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