In industry news:

A.M. Best expects the U.S. property/casualty insurance industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. The expected net underwriting loss for 2017 of $29.3 billion — which follows a $6.5 billion loss in 2016 — will cause pre-tax operating income to decline substantially to $14.8 billion from $41.1 billion in 2016, according to the Best’s Market Segment Report, titled, “U.S. Property/Casualty 2018 Review & Preview.”

Read more via Insurance Journal here.

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