US P&C industry posts $24.3 billion net underwriting loss for 9M 2022 – report

US P&C industry posts $24.3 billion net underwriting loss for 9M 2022 – report

A new special report from AM Best has found that the US P&C industry recorded a $24.3 billion net underwriting loss in the first nine months of 2022.

The $24.3 billion net underwriting loss is down $17.9 billion from the prior year period, AM Best noted, as a 8.4% growth in net earned premiums and a 22.3% decline in policyholder dividends were offset by a 14.0% increase in incurred losses and loss adjustment expenses, as well as a 6.5% increase in other underwriting expenses.

It was also noted that the personal lines segment, specifically auto

Read More>>