Market News
A.M. Best Maintains Stable Outlook for US Commercial Lines Sector
A.M. Best has maintained a stable outlook for the US commercial lines insurance sector, citing its strong underwriting performance through the COVID-19 pandemic and the current economic volatility. US commercial lines insurers face more pronounced headwinds entering 2023 than they did a year ago, however, according to Best. Read More
Despite Relief in Some Lines, Hard Insurance Market Isn't over Yet
The second half of 2022 has offered commercial insurance buyers some relief in terms of improved market conditions, coverage, and capacity for many lines of business, according to Willis Towers Watson. Still, commercial property remains a significant holdout from that market improvement. Read More
US P&C Industry Posts $24.3 Billion Underwriting Loss through Q3
The US property-casualty insurance industry recorded a $24.3 billion net underwriting loss during the first 9 months of 2022, according to A.M. Best. The loss through this year's first 3 quarters nearly quadruples the loss the US property-casualty industry recorded over the same period in 2021, Best said. Read More
Uncertainty Aside, Global Reinsurance Sector's Outlook Remains Stable
Despite uncertain market conditions and such negative factors as rising natural catastrophe losses and ongoing inflation, A.M. Best has maintained its stable outlook for the global reinsurance sector. The positive factors reinsurers are experiencing are ultimately offset by negative ones, Best said. Read More
US Property-Casualty Reinsurer Premium Growth Continued through Q3
A group of 17 US property-casualty reinsurers wrote $64.0 billion of net premiums during the first 3 quarters of 2022, up from $57.3 billion over the same period last year, according to the Reinsurance Association of America (RAA). The RAA data is based on the reinsurers' statutory underwriting results. Read More