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 […]
A.M. Best Projects 2016 Profitability Slides as Growth Slows and Competition Intensifies for U.S. P/C Insurers
A.M. Best expects that higher catastrophe losses, competitive market conditions and automobile liability challenges will result in an underwriting loss in 2016 for the U.S. property/casualty (P/C) insurance industry, its first such loss since 2012, according to a new A.M. Best special report. On January 25, CollisionWeek reported that private U.S. P/C insurers suffered a $1.7 […]