Following the worst year in the recent past for U.S. personal auto insurers, results continued to slide in the first half of 2023 as the segment posted a direct incurred loss ratio that was more than three percentage points above the one recorded in the same period of 2022, according to an AM Best report.
The Best’s Market Segment Report, US Personal Auto Results Worsen as Claims Severity Rises, states that the 112.2 net combined ratio in 2022 for the personal auto line of business represented a deterioration of nearly 11 percentage points from 2021. The 2022 combined ratio
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