Insurance Industry Rebounds

P/C Insurance Industry Shows Remarkable Recovery Despite Ongoing Challenges

AM Best's latest report reveals a dramatic improvement in U.S. property/casualty insurance results, with underwriting losses shrinking from $24.6 billion in 2023 to just $2.6 billion in 2024!

This impressive recovery stems from strategic rate increases and smarter risk selection practices across the industry. The combined ratio improved significantly from 101.9 to 98.9, signaling a return to underwriting profitability for many carriers.

This positive shift demonstrates how effective pricing strategies and disciplined underwriting can transform performance even in challenging market conditions.

As the industry continues its positive trajectory, carriers that maintain these strategic improvements will likely strengthen their market positions further in the coming years.