US P&C industry posts $32.2bn underwriting loss through Q3 2023: AM Best
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US P&C industry posts $32.2bn underwriting loss through Q3 2023: AM Best

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The US P&C industry recorded a $32.2bn net underwriting loss for the first nine months of 2023, $7.6bn higher than the loss recorded in the prior-year period, according to a new AM Best “First Look” report.

Losses in personal lines, particularly in homeowners’ insurance, were the main driver of deterioration in the industry’s combined ratio to 103.4%,

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