Fitch Ratings reports improvements in Property/Casualty insurers’ mid-year 2024 results in North America.
The mid-year 2024 GAAP financial results for 41 North American property/casualty (p/c) (re)insurers reveals very strong operating returns across sectors, driven by improved underwriting results and higher investment income, Fitch Ratings says in a new report. Double-digit operating return on common equity was generated by nearly every segment, with particularly strong results in personal lines led by auto, Florida homeowners, commercial specialty and reinsurance.
Overall group underwriting margins improved in 1H24, with a combined ratio of 91.0% in the first half of 2024 (1H24), compared with 96.9%
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