Underwriting results in the U.S. private passenger auto insurance segment has shown further stabilization in first-half 2024 following improvements in 2023, according to a new AM Best report. Due to the improved segment performance and other factors, AM Best has revised its outlook on the personal auto segment to stable from negative.
According to the Best’s Market Segment Report, Private Passenger Auto: On the Road to Recovery, the personal auto segment’s direct physical damage loss ratio in first-half 2024 decreased 16 percentage points over the same prior-year period to 63.2 as carriers continued to take steps to address prevailing
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