The underwriting profitability of the U.S. personal auto line showed signs of improvement in 2017 as rate hikes have been effective against loss frequency and severity trends, according to a new A.M. Best report.
The combined ratio for the U.S. private passenger standard auto composite (companies with private passenger auto net premiums written that constitute 50 percent or more of their total net premiums written) at the end of third-quarter 2017 had improved by 4.3 points to 101.6 from third-quarter 2016, according to the Best’s report, titled, “Personal Auto Showing Signs of Improvement.”
The total industry’s private passenger auto combined