P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best

Friday, February 14th, 2014 Auto Liability Property Workers' Compensation

A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60 percent increase in net income to $63.2 billion, which helped drive an estimated record year-end surplus of $666.3 billion. The surplus level is “particularly noteworthy given the headwinds that are anticipated in 2014,” A.M. Best said. In a special report, the ratings agency said underwriting results reached their best level since 2007 and the industry’s combined ratio for the year is expected to come in at 97.6.


External References & Further Reading
http://www.insurancejournal.com/news/national/2014/02/10/319971.htm
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