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You are here: Home / News / Property/Casualty Insurance Underwriting Losses Soar, Net Income Shrunk in 2022

Property/Casualty Insurance Underwriting Losses Soar, Net Income Shrunk in 2022

April 6, 2023 By CollisionWeek Editor

The $26.9 billion underwriting loss is the largest since 2011.

Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from Verisk (NASDAQ: VRSK), a leading global data analytics provider, and the American Property Casualty Insurance Association (APCIA).

The industry experienced a $26.9 billion net underwriting loss in 2022, more than six times the $3.8 billion underwriting loss in 2021. The underwriting loss was the largest the industry has seen since 2011.

Net income fell to $41.2 billion in 2022, compared to $62.1 billion a year earlier – a 33.6%

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

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