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You are here: Home / News / Inflation and High Catastrophe Losses Projected to Lead to Underwriting Loss for P&C Insurance

Inflation and High Catastrophe Losses Projected to Lead to Underwriting Loss for P&C Insurance

August 9, 2023 By CollisionWeek Editor

The overall P&C industry is forecast to finish 2023 with a net combined ratio at 102.2, nearly identical to the final 2022 result of 102.4. Poor personal lines underwriting performance is the key driver in both years, with personal auto forecast at 109.5 in 2023, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman.

Insurance Information Institute logoThe quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.

Michel Léonard, PhD, CBE, Chief Economist and Data Scientist at Triple-I, discussed key macroeconomic trends

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Filed Under: News Tagged With: Combined Ratio, Insurance Information Institute, Property Casualty Insurance

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