A.M. Best — A Report for the First 3/4 of 2024

A.M. Best issued a report last week that said things are going much better for the P&C industry in 2024 than they did in 2023. And by better, Best means a LOT better.

In the first three quarters of 2024 net premiums rose 8.5% to $691.2 billion. The underwriting profit was $4.1 billion and it compares to a $32.1 billion underwriting loss in the first three quarters of 2023.

Net income more than doubled. In 2024’s first three quarters income was $130 billion. That’s up from $64.5 billion in 2023. Net investment income rose 22.1% to $60.5 billion.

Source link: Business Insurance — https://bit.ly/3OQdD3S