Challenges continue for the U.S. P&C market
Saturday, 05 27 2017, Category: Insurance and Reinsurance, Country: United States
A.M. Best’s preliminary first-quarter report on U.S. property and casualty re/insurance has shown the market is still navigating challenging waters as the trend industry loss trend continues, 2017 Q1 saw a significant net underwriting loss of $841.5 million, however, far from seriously rocking the boat, the losses don’t come near the $2 billion underwriting profit reported in the first-quarter of 2016.
The rating agency’s industry insights come from three-month 2017 interim statutory statements and represent data from 96% of the total property/casualty industry’s net premiums written.
Despite the underwriting losses, the industry saw significant net investment growth, which increased by 9.5% to $11.9 billion during 2017 Q1.