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You are here: Home / News / Triple-I Reports Personal Auto Profitability Heading in the Right Direction

Triple-I Reports Personal Auto Profitability Heading in the Right Direction

June 11, 2024 By CollisionWeek Editor

Personal auto insurance underwriting profitability appears to finally be headed in a positive direction after recent years of record underwriting losses, according to the Insurance Information Institute (Triple-I).

“Auto insurers’ 2023 net combined ratio of 104.9 is 7.3 points better than 2022. Additionally, 2023 net written premium growth of 14.3% is the highest in over 15 years and six points higher than the next-highest during that period, reflecting rate increases to offset inflationary loss costs,” according to the newly published Triple-I Issues Brief, Trends and Insights: Personal Auto Insurance Rates.

In 2023, new auto sales experienced their best performance in

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Filed Under: News Tagged With: Auto Insurance, Combined Ratio, Insurance Information Institute, Profitability

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