Property/Casualty Insurer Profitability Slides

The U.S. property/casualty insurance industry in 2016 will likely post an underwriting loss for the first time in four years due to higher catastrophe losses, competitive market conditions and auto liability challenges, A.M. Best Co. Inc. said Monday. The Oldwick, New Jersey-based insurance ratings firm said in its 2017 Review & Preview Best’s Special Report, “Profitability Slides, Surplus Growth Slows and Competition Intensifies for Property/Casualty Insurers,” that the P/C industry is expected to post a combined ratio of 100.7% for 2016, a deterioration from 98.3% in 2015.