Best’s Special Report: Nine-Month 2021 Results Show $6 Billion Underwriting Loss for U.S. Property/Casualty Insurance Industry
Increased losses and expenses in the
This financial review is detailed in a new Best’s Special Report, “First Look: Nine-Month 2021 Property/Casualty Financial Results,” and the data is derived from companies’ nine-month 2021 interim statutory statements that were received as of
According to the report, the P/C industry recorded 8.2% growth in net earned premiums and saw a 53.4% decline in policyholder dividends, compared with the nine-month period of 2020; however, it was offset by a 12.1% increase in incurred losses and loss adjustment expenses (LAE) and a 5.9% increase in underwriting expenses. Despite a 7.8% increase in net investment income and an additional
The combined ratio for the industry weakened from the prior-year period to 99.5. AM Best estimates that catastrophe losses accounted for 8.2 percentage points on the nine-month 2021 combined ratio, down from an estimated 8.4 points in the first three quarters of 2020.
To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=314937.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20211119005443r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />
View source version on businesswire.com: https://www.businesswire.com/news/home/20211119005443/en/
Director, Data Management
+1 908 439 2200, ext. 5627
[email protected]
Manager, Public Relations
+1 908 439 2200, ext. 5159
[email protected]
Director, Communications
+1 908 439 2200, ext. 5644
[email protected]
Source: AM Best
4 Reasons Why Millennials Need Life Insurance
Indiana House Democrats: State Rep. Campbell Calls for Lower Health Insurance Premiums for Hoosier Families
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News