Press Release - MARCH 15, 2019
Best’s Special Report: U.S. Property/Casualty Industry’s Net Income Jumped 70% in 2018
FOR IMMEDIATE RELEASE
OLDWICK - MARCH 15, 2019
The report states that increases in premiums written and earned outpaced the increase in incurred losses and expenses, and as a result, the P/C industry’s combined ratio for 2018 improved 4.4 points to 99.3 from 103.7 in 2017. AM Best estimates that catastrophe losses accounted for 5.9 points on the 2018 combined ratio, down from an estimated 10.1 points in the prior year. The improvement in net income and $6.2 billion in additional contributed capital was more than countered by a $99.7 billion decline in unrealized gains and $5.5 billion in additional stockholder dividends, resulting in industry surplus declining 0.6% to $741.0 billion from the end of 2017.
To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=283645 .
AM Best is a global rating agency and information provider with a unique focus on the insurance industry.