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You are here: Home / News / U.S. Property/Casualty Industry Posts $8.2 Billion Underwriting Loss in First-Quarter 2023

U.S. Property/Casualty Industry Posts $8.2 Billion Underwriting Loss in First-Quarter 2023

June 15, 2023 By CollisionWeek Editor

Net income declined 70.7% to $8.1 billion.

The U.S. property/casualty (P/C) industry saw an $8.2 billion net underwriting loss in the first quarter of 2023, compared with a $3.4 billion gain in the same prior-year period, according to preliminary financial results. This financial review is detailed in a new Best’s Special Report, First Look: Three-Month 2023 US Property/Casualty Financial Results, and the data is derived from companies’ three-month 2023 interim statutory statements that were received as of May 30, representing an estimated 98% of the total P/C industry’s net premiums written.

AM Best logoAccording to the report, the combined ratio for

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Filed Under: News Tagged With: A.M. Best, Earnings, Property Casualty Insurance

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