P&C Industry Posts $2.9 Billion Underwriting Profit

Underwriting performance in the U.S. property and casualty industry in the first nine months of this year still lagged behind 2013, but remained favorable, rating agency A.M. Best said Thursday.Overall, the U.S. P&C industry did post an underwriting profit of $2.9 billion for the first three quarters of the year, the seventh consecutive quarter of doing so, A.M. Best said in a new special report. “While net premiums written (NPW) grew — to $381.4 billion from $364.5 billion year over year — the pace of that growth has slowed,” the report noted.