NOVEMBER 22, 2019 07:39 AM (EST)
Best’s Special Report: Preliminary Nine-Month 2019 Results Show 13% Underwriting Income Increase for U.S. P/C Industry
FOR IMMEDIATE RELEASE
OLDWICK - NOVEMBER 22, 2019 07:39 AM (EST)
The nine-month 2019 combined ratio for the P/C industry weakened slightly by 0.5 percentage points from the prior-year period, to 98.0. AM Best estimates that catastrophe losses accounted for 4.4 points on the combined ratio, down from an estimated 5.1 points in the same period in 2018. A $1.1 billion increase in net investment income during the first nine months of 2019 contributed to a 4.5% increase in pre-tax operating income to $48.5 billion. Due to a $2.1 billion reduction in realized capital gains, industry net income remained unchanged from the prior-year period, at $49.5 billion.
To access a copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=292087 .
AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.