P/C Net Income Jumped 70% in 2018

A.M. Best is reporting that the U.S. property/casualty (P/C) industry’s net income improved significantly.
March 19, 2019

A.M. Best is reporting that the U.S. property/casualty (P/C) industry’s net income improved significantly to $61.4 billion in 2018, a $25.2 billion increase from the prior year, aided by a reduction in catastrophe losses and an increase in net investment income. The report [“First Look: 2018 Property/Casualty Financial Results”], states that increases in premiums written and earned outpaced the increase in incurred losses and expenses, and as a result, the P/C industry’s combined ratio for 2018 improved 4.4 points to 99.3 from 103.7 in 2017. A.M. Best estimates that catastrophe losses accounted for 5.9 points on the 2018 combined ratio, down from an estimated 10.1 points in the prior year.


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