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Best — Underwriting Income Up

Posted By Administration, Monday, November 25, 2019

A.M. Best just released a report on underwriting in 2019. First Look: 9-Month 2019 Property/Casualty Financial Results says underwriting is looking very, very good.

Net underwriting income for the first nine months of the year jumped 12.7% over the same time period in 2018. The income increase is $4.5 billion.

Net premiums written is up 2.6% to $474.6 billion and net investment income rose 2.6% to $42.8 billion. The combined ratio — however — dropped to 98.0% from 97.5% in 2018.

Net income also fell 0.2% and is $49.5 billion. The industry surplus — on the other hand — is up 9.5% since the end of 2018 and is now $821 billion.

Best’s data comes from 97% of the net premiums written by U.S. P&C insurers.

Source link: Business Insurance

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