Nationwide P/C Underwriting Income Down in First Half
Saturday, August 24, 2019
Ratings agency A.M. Best reported recently that during the first half of the year net underwriting income nationwide for the property-casualty insurance industry fell 9.6 percent to $4.83 billion.
According to the agency, a $432.7 million increase in net investment income during the same period helped to offset the decline.
The Oldwick, NJ, company said net earned premiums for the industry grew by 3.8 percent in the first half, courtesy of fairly stable underwriting expenses and policyholder dividends, but losses and loss adjustment expenses increased by 5.6 percent.
The report is based on data from six-month 2019 interim statutory statements.