U.S. Property/Casualty Industry Records $24.5 Billion Underwriting Loss in the First Half of 2023

Published on September 12, 2023

The U.S. property/casualty (P/C) industry recorded a $24.5 billion net underwriting loss in the first half of 2023, nearly eclipsing the $26.5 billion in total losses recorded for all of 2022, according to a new AM Best report.

These preliminary results are detailed in a new Best’s Special Report, First Look: 6-Month 2023 US Property/Casualty Financial Results, and the data is derived from companies whose six-month 2023 interim period statutory statements were received as of Aug. 30, 2023. These companies account for an estimated 98% of total industry net premiums written and 98% of policyholder surplus.

According to

Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options. 

The post U.S. Property/Casualty Industry Records $24.5 Billion Underwriting Loss in the First Half of 2023 appeared first on CollisionWeek.

Continue reading on website
Other news

GM’s John Eck Joins Collision Repair Education Foundation Board of Directors

September 12, 2023
The Collision Repair Education Foundation (CREF) announced John Eck, head of Product, Accident Assistance, General Motors Global Strategy & Innovation Future Digital Products, has joined its Board of Directors.“The Foundation is thrilled to have John join our Board of Directors,” shares CREF Executive Director Brandon Eckenrode. “His vast array of industry experience is certain to be a major asset

OpenRoad Collision Acquires 6 Collision Repair Centers in Oklahoma

September 12, 2023
OpenRoad Collision announced a strategic partnership with Bill Knight Collision, a six location multi-shop operator (MSO) with locations in Tulsa and Stillwater, Okla. Combined, the OpenRoad Collision family of brands now owns and operates collision repair centers across Texas, New Mexico, and Oklahoma. The addition of Bill Knight Collision not only expands OpenRoad Collision’s geographic footprin