U.S. P/C Underwriting Income Rises
Net underwriting income for the U.S. property/casualty industry increased 12.7 percent in the first nine months of 2019 to $4.5 billion, according to a report released by A.M. Best Co.
Net premiums written rose 2.6 percent to $474.6 billion, and net investment income rose 2.6 percent to $42.8 billion during the first nine months of 2019, according to the report, First Look: 9-Month 2019 Property/Casualty Financial Results. The combined ratio for the property/casualty industry in the first nine months of 2019 worsened to 98.0 percent, Best said, compared with 97.5 percent in the prior-year period. Industry net income slipped 0.2 percent to $49.5 billion.