Property/casualty insurers have proven resilient in the last two years amid the considerable challenges of the coronavirus pandemic. One unanticipated outcome in this period is sharp improvement in underwriting results of the commercial automobile insurance line.

Following 10 consecutive years of underwriting losses, this chronically underperforming business moved to a 99 statutory combined ratio in 2021, tied to substantial pricing and reunderwriting actions and a material shift in claims experience amid the pandemic.