combined ratio News
Carrier Retention Rates Decline Due to Auto Insurance Comparison Shopping
Consumers purchasing new policies and shopping around for auto insurance in the U.S. helped carriers post positive year-over-year growth and record volumes for the final quarter of the year, ...
Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9, according to the latest underwriting ...
Aon: Homeowners ROE Improved with Timely Rate Hikes
A new report on the state of the homeowners market in the U.S. highlights how insurance carriers used timely rate actions to thwart residual inflationary pressures, improving the overall prospective ...
Progressive Maintains Strong Pricing/Reserving Stance Amid High Auto Costs, Catastrophe Losses
During a Q2 2023 earnings call this week, Progressive Corp. announced their earnings goals fell short of its combined ratio target of 96, as a result of catastrophe losses and increases in vehicle ...
Chubb Quarterly Profits Come Out Stronger Than Expected
Chubb beat estimates for quarterly profit on Tuesday as higher returns from its investments cushioned a hit from catastrophe-related claims. Investment income, which had slumped for most insurance ...
P/C Market Won’t See Underwriting Profit Until ’24; Outsized Growth Expected
After four years of unparalleled underwriting profitability ending in 2021, the P/C market is headed for a second straight year of underwriting losses, according to the newly released S&P Global ...
W.R. Berkley Q3: Strong Rate Hikes, Lower Net Income, Solid Combined Ratio
W.R. Berkley Corp.'s 2020 third-quarter financial results landed on the strong side despite a dip in net income and more COVID-19 losses, a result the company credits to rate hikes and underwriting ...
U.S. Nonstandard Auto Market Makes Significant Strides: A.M. Best
A 102.2 combined ratio may not be seem very good. For the U.S. nonstandard auto market, however, it represents a big improvement over past performance. A new A.M. Best report concluded the market ...