USA - $1.5bn underwriting loss for P&C in 1H16
Friday, 10 07 2016, Category: Insurance and Reinsurance, Country: United States
Private property/casualty insurers in the US reported a $1.5 billion net underwriting loss in the first half of 2016, the first year-to-date net underwriting loss in more than three years, and saw their net income after taxes drop to $21.7 billion in the first half of 2016 from $31 billion year-on-year.
This is according to data from ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America (PCI).
Source: Intelligent Insurer