Publicly traded US property-casualty insurers performed unexpectedly well last year despite extraordinary challenges, generating operating income of $82.1 billion, according to a new report from AM Best.
The new Best’s Special Report, “US P/C Insurers Perform Well Despite COVID-19,” covered the vast majority of US P&C insurers that file GAAP statements.
In addition to the effects of the COVID-19 pandemic on the P&C segment, catastrophe losses of more than $66 billion added approximately 7.5 points to the industry’s combined net ratio (on a statutory basis), compared to 4.1 points in 2019. Despite these impacts, publicly traded P&C
