Inflation and High Catastrophe Losses Projected to Lead to Underwriting Loss for P&C Insurance

Published on August 9, 2023

The overall P&C industry is forecast to finish 2023 with a net combined ratio at 102.2, nearly identical to the final 2022 result of 102.4. Poor personal lines underwriting performance is the key driver in both years, with personal auto forecast at 109.5 in 2023, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman.

The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.

Michel Léonard, PhD, CBE, Chief Economist and Data Scientist at Triple-I, discussed key macroeconomic trends

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The post Inflation and High Catastrophe Losses Projected to Lead to Underwriting Loss for P&C Insurance appeared first on CollisionWeek.

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