Inflation

Personal Lines Leads the Way to the Largest Net Underwriting Loss in over a Decade

S&P Global Market Intelligence tracks insurance numbers. With still growing inflation, the negative numbers are steadily increasing. S&P’s latest report said the underwriting red ink hit $7.34 billion in the first quarter of 2023. It’s the largest increase in 12 years. The combined ratio hit 102.2. This is in contrast to an underwriting profit of …

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Inflation Hit P&C Insurers Hard — Claims Costs Up in 2022

News Releases and Bulletins / By Admin

Details produced by the Swiss Re Institute Economic Insights report showed inflation causing claims costs to rise from 5% to 7.5% in 2022. Things aren’t going to be much better in 2023. “In 2023, we expect that inflation should lead to an additional increase of 3.5-6.5%,”the report said. “Inflation may be easing, but claims severity …

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U.S. Treasury — Inflation is Easing

News Releases and Bulletins / By Admin

While most of us are still struggling with paying high costs for goods and services, at least someone thinks inflation is starting to subside. The someone is U.S. Treasury Secretary Janet Yellen. In a speech in — of all places — Zambia, Africa, Yellen said she’s encouraged by the administration’s progress and noted that energy …

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