Hurricanes and wildfires drive underwriting losses. Net income showed improvement in fourth quarter Private U.S. property/casualty insurers saw investment gains push the industry’s surplus to a new all-time-high value of $752.5 billion in 2017, a $51.7 billion increase from 2016, and catastrophe losses suppressed the industry’s net income after taxes to $36.1 billion in 2017, […]
A.M. Best Projects Property/Casualty Insurance 2017 Underwriting Loss of $29 Billion
A.M. Best expects the U.S. property/casualty (P/C) industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. As a result, the industry 2017 combined ratio is estimated to deteriorate to 105.1 from 100.9 in the previous year, according to A.M. Best’s 2018 Review/Preview special report on the P/C industry. The […]
U.S. Property/Casualty Insurance Industry Reports $22.4 Billion Net Income
Net income dropped 30.3 Percent in first nine months of 2017 following hurricanes and other catastrophe losses. The private U.S. property/casualty insurance industry saw its net income after taxes drop to $22.4 billion in the first nine-months of 2017 from $32.1 billion in the first nine-months of 2016-a 30.3 percent decline-and its overall profitability as […]
Property/Casualty Insurance Industry’s Net Income Drops to $15.5 Billion in First-Half 2017
Decline of over 29 percent in net income compared to 2016 The private U.S. property/casualty insurance industry saw its net income after taxes drop to $15.5 billion in first-half 2017 from $21.8 billion in first-half 2016—a 29.2 percent decline—and its overall profitability as measured by its annualized rate of return on average policyholders’ surplus fall […]
U.S. Property/Casualty Insurance Industry Reports $7.7 Billion Net Income in First Quarter
Net income drops 42.2 percent due to the highest first quarter catastrophe losses since the 1994 Northridge earthquake. The private U.S. property/casualty insurance industry saw its net income after taxes drop to $7.7 billion in first-quarter 2017 from $13.4 billion in first-quarter 2016—a 42.2 percent decline—and its overall profitability as measured by its annualized rate […]
Property/Casualty Insurers Report $4.7 Billion Net Underwriting Loss in 2016
While suffering an underwriting loss, the industry reported net income of $42.6 Billion, a 25 percent decline from 2015. Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016, following an $8.9 billion net underwriting gain in 2015, and experienced a 25 percent drop in net income after taxes to $42.6 billion from […]
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 […]
Property/Casualty Insurers Report $1.7 Billion Net Underwriting Loss in First Nine-Months 2016
Third quarter net income was $10.1 billion in third-quarter 2016. Private U.S. property/casualty insurers suffered a $1.7 billion net underwriting loss in the first nine months of 2016—compared to a $7.3 billion net underwriting gain in nine-months 2015—and experienced a drop in net income after taxes to $31.8 billion from $44.1 billion a year earlier, […]
Property/Casualty Insurers Report $21.7 Billion Net Income After Taxes in First-Half 2016
Insurers report $1.5 Billion Net Underwriting Loss. Combined ratio deteriorated to 99.8 percent in first half of 2016. Premium growth slows. Private U.S. property/casualty insurers reported a $1.5 billion net underwriting loss in the first half of 2016—the first year-to-date net underwriting loss in more than three years—and saw their net income after taxes drop […]
Property/Casualty Insurers Report $13.3B in Net Income after Taxes in First-Quarter 2016
Increases in catastrophe losses, higher combined ratios and declining investment income caused a 26.6 percent decline in net income from 2015. Private U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015, a 26.6 percent decline, and their annualized quarterly yield on investments […]