The U.S. property/casualty (P/C) industry recorded a $24.5 billion net underwriting loss in the first half of 2023, nearly eclipsing the $26.5 billion in total losses recorded for all of 2022, according to a new AM Best report.
These preliminary results are detailed in a new Best’s Special Report, First Look: 6-Month 2023 US Property/Casualty Financial Results, and the data is derived from companies whose six-month 2023 interim period statutory statements were received as of Aug. 30, 2023. These companies account for an estimated 98% of total industry net premiums written and 98% of policyholder surplus.
According to
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