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You are here: Home / Archives for Property Casualty Insurance

U.S. Property Casualty Insurance Industry Reports $170 Billion Net Income in 2024

March 24, 2025 By CollisionWeek Editor

Verisk and APCIA report that investment gains and pricing in 2024 offset some impacts driven by severe catastrophic events. Verisk (NASDAQ: VRSK), the global data analytics and technology provider, and The American Property Casualty Insurance Association (APCIA), the primary national trade association for home, auto and business insurers, reported full-year 2024 net income for the […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Earnings, Net Written Premiums, Property Casualty Insurance, Verisk

US Property/Casualty Industry Swings to Underwriting Profit of $22.9 Billion in 2024

March 18, 2025 By CollisionWeek Editor

Result marks first gain in four years. The U.S. property/casualty (P/C) industry recorded a $22.9 billion net underwriting gain in 2024, signifying the segment’s first underwriting profit since 2020, and marking a substantial swing from the $21.3 billion loss recorded in the prior year, according to a new AM Best report. These preliminary results are […]

Filed Under: News Tagged With: A.M. Best, Earnings, Net Written Premiums, Property Casualty Insurance

AM Best Places Stable Outlook on U.S. Personal Lines Insurance Segment as Auto Insurance Market Improves

December 4, 2024 By CollisionWeek Editor

Regulatory approvals of insurance premium rate increases helping market recover. AM Best has revised its outlook to stable from negative for the U.S. personal lines insurance segment for 2025, which corresponds with a change to the personal auto outlook. The shift in the personal lines segment outlook cites improved rate and pricing conditions, particularly in […]

Filed Under: News Tagged With: A.M. Best, Property Casualty Insurance

U.S. Property/Casualty Industry Records $3.8 Billion Underwriting Gain in First-Half 2024

September 16, 2024 By CollisionWeek Editor

The U.S. property/casualty (P/C) industry recorded a $3.8 billion net underwriting gain in the first half of 2024, a significant improvement from the $24.0 billion loss recorded in the same prior-year period, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: Six-Month 2024 […]

Filed Under: News Tagged With: Earnings, Property Casualty Insurance

Property/Casualty Insurance Strong Results Driven by Personal Auto Turnaround

September 3, 2024 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Earnings, Fitch, Property Casualty Insurance

US Property/Casualty Industry Suffered Second-Straight Year of $20 Billion-Plus Underwriting Losses in 2023

July 2, 2024 By CollisionWeek Editor

AM Best special report says P/C insurers’ underwriting loss was over $47 Billion combined in 2022-23. Unprofitable results in the U.S. private passenger auto and homeowners/farmowners market insurance segments led to a second-straight year of net underwriting losses in the property/casualty (P/C) industry eclipsing $20 billion, according to a new AM Best report. The 2023 […]

Filed Under: News Tagged With: Losses, Property Casualty Insurance

U.S. Property and Casualty Insurers Projected to Have $21.1 Billion in Underwriting Losses Last Year

May 30, 2024 By CollisionWeek Editor

Verisk & APCIA estimate shows the industry facing continued challenges from natural catastrophe events, inflation. Verisk (NASDAQ: VRSK), the global data analytics and technology provider, and The American Property Casualty Insurance Association (APCIA), a national trade association for home, auto, and business insurers, today remarked on full-year 2023 losses for the insurance industry, which they […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Combined Ratio, Earnings, Net Written Premiums, Property Casualty Insurance, Verisk

Insurance Economic Drivers Outperforming Overall US GDP

April 17, 2024 By CollisionWeek Editor

Insurance Information Institute says property/casualty insurance performance likely to gain momentum on Federal Reserve interest rate cuts. The economic drivers of the U.S. property/casualty (P/C) insurance industry are now growing faster than the nation’s Gross Domestic Product (GDP) and are expected to gain further momentum in the event of Federal Reserve monetary rate cuts, according […]

Filed Under: News Tagged With: Insurance Information Institute, Property Casualty Insurance

U.S. P/C Insurer Personal Lines Recovery to Drive Profitability in 2024

April 11, 2024 By CollisionWeek Editor

Combined ratio projected below 100% as revenue growth above historic levels. Property/casualty (P/C) insurance statutory earnings will materially improve in 2024 amid recovery in personal lines results and only modest deterioration in commercial lines underwriting, Fitch Ratings says. Personal lines underwriting losses should narrow considerably, particularly in auto and as natural catastrophe losses revert towards […]

Filed Under: News Tagged With: Combined Ratio, Profitability, Property Casualty Insurance

Underwriting Losses Persist in US Property/Casualty Industry Total $21.2 Billion in 2023

March 25, 2024 By CollisionWeek Editor

The U.S. property/casualty (P/C) industry recorded a $21.2 billion net underwriting loss in 2023, slightly improving upon the $24.9 billion loss recorded in 2022, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, First Look: 2023 US Property/Casualty Financial Results, and the data is derived […]

Filed Under: News Tagged With: Combined Ratio, Earnings, Property Casualty Insurance

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