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A.M. Best — P&C Income Up Dramatically 2018

Posted By Staff reporter, Tuesday, March 19, 2019

A.M. Best’s 2018 year-end report is called First Look: 2018 Property/Casualty Financial Results. Best said things — from a net income perspective — looked pretty good for insurers in 2018.

 

Net income made a huge jump from $36.2 billion in 2017 to $61.4 billion last year. That’s a staggering $25.2 billion rise. The report says fewer catastrophe losses and net investment income gains led the increase.

 

The report also noted rises in premiums written and earned outdistanced losses and expenses. That led to a 4.4% improvement in the combined ratio. It went from 103.7 in 2017 to 99.3 last year.

 

Here’s more:

  Catastrophe losses — the report says — account for 5.9 of the combined ratio points

  That’s down from 10.1 in 2017

  Net income improved and $6.2 billion in additional contributed capital got offset by a $99.7 billion decline in unrealized gains and $5.5 billion in additional stockholder dividends

  The industry surplus — as a result — dropped 0.6% to $741 billion

  Net investment income rose 17% to $57.4 billion in 2018

  It was $49 billion in 2017

  There was a 10.1% rise in premiums earned and it sat at $581.4 billion

  In 2017 that figure was $528.3 billion

  Net written premiums in 2018 rose to over $600 billion compared to $540.5 billion in 2017

 

Source links: A.M. Best, Carrier Management

Tags:  First Look: 2018 Property/Casualty Financial Resul 

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