P/C Insurers Pulled Off Underwriting Turnaround in First 9 Months
Private U.S. property/casualty insurers reported a $4.7 billion net underwriting gain in nine-months 2018, a sharp turnaround from a $21.0 billion net underwriting loss a year earlier.
The results were helped by a rare decline in overall losses and loss adjustment expenses (LLAE) and significant premium growth, according to data firm ISO and the American Property Casualty Insurance Association (the new trade group formed by the merger of the American Insurance Association and the Property Casualty Insurers of America).