Verisk & APCIA estimate shows the industry facing continued challenges from natural catastrophe events, inflation.
Verisk (NASDAQ: VRSK), the global data analytics and technology provider, and The American Property Casualty Insurance Association (APCIA), a national trade association for home, auto, and business insurers, today remarked on full-year 2023 losses for the insurance industry, which they estimate to be $21.1 billion. According to key financial indicators for private U.S. property/casualty insurers, 2023 followed similar trends in underwriting losses to those seen in a difficult 2022.
The preliminary results, as shown in the tables below, represent consolidated estimates derived from annual statements
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