Industry News
U.S. P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
AM Best published its annual estimate of the U.S. property/casualty insurance industry's financial results yesterday, reporting that $38 billion of underwriting losses for 2023 was a 10-year high for ...
Skeptical AM Best Tags U.S. D&O Segment With Negative Outlook
Rating agency AM Best has assigned a negative outlook to the U.S. directors and officers liability insurance segment as more market entrants increase capacity and drive down pricing in the face of ...
AmFam Underwriting Loss Worsens to $1.7B in 2023
American Family Insurance posted a net underwriting loss of $1.7 billion for property/casualty business in 2023, up from an underwriting loss of $1.5 billion in 2022. While higher claim loss costs ...
After Slow 2023, M&A Activity Expected to Ramp Up This Year
More acquisition opportunities and continued competition across the market is expected in 2024, according to a new report, the "2024 Insurance M&A Outlook," by Deloitte. Property/casualty mergers ...
25 Straight Quarters of Premium Increases for Commercial Lines: CIAB Survey
Overall commercial property/casualty premiums increased slightly for all account sizes to 7 percent on average in the fourth quarter of 2024, continuing a trend that has now last more than six years. ...
Florida OIR Approves Another 54,000 Citizens Takeouts; More Coming if Bills Pass
Florida's Insurance Commissioner last week approved another round of takeouts from the state-created Citizens Property Insurance Corp., with assumption dates in May. That brings the total takeouts ...
Executives Deliver Divergent Views on Sustainability of Workers Comp Profits
Property/casualty insurance industry leaders delivered two different views on whether workers compensation will continue to be a bright spot on the industry profit picture during an investor ...
U.S. Insurers Face Challenges as Spike in Ratings Actions Expected to Continue
Negative ratings actions and financial challenges are forcing carriers to explore reinsurance options offering needed capital, according to a report released last month by Gallagher Re's Strategic ...