P&C Insurers Log First Half Underwriting Loss But Maintain Strong Position to Pay Claims

The US P&C insurance industry saw a streak of net underwriting profitability come to an end when it recorded a loss of $1.5 billion in the first half of 2016, compared with a $3.5 billion underwriting profit in the first half 2015.

The loss marked the industry’s first year-to-date net underwriting loss in more than three years, according to a report from Verisk’s ISO, the Insurance Information Institute and the Property Casualty Insurers Association of America.

First-half net income fell to $21.7 billion from $31 billion during the same time a year ago.

Read more at http://www.advisenltd.com/2016/10/17/pc-insurers-log-first-half-underwriting-loss-but-maintain-strong-position-to-pay-claims/

Chad Hemenway, P&C insurers log first half underwriting loss but maintain strong position to pay claims (October 17, 2016), available with subscription at Advisen Professional Front Page News.