Combined ratio projected below 100% as revenue growth above historic levels.
Property/casualty (P/C) insurance statutory earnings will materially improve in 2024 amid recovery in personal lines results and only modest deterioration in commercial lines underwriting, Fitch Ratings says. Personal lines underwriting losses should narrow considerably, particularly in auto and as natural catastrophe losses revert towards historical norms.
Revenue growth will slow in 2024 but remain above historical norms; we project approximately a 7% increase in both direct and net written premiums, down from 10% for each in 2023. Strong commercial lines performance and accelerating personal lines premiums tied to substantial
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