Unprofitable auto results, caused by the cost of repair, supply chain delays and inflation, have contributed to a significant weakening of US underwriting results for the personal lines segment.
The AM Best report says the drop sent the property & casualty (PC) industry’s net underwriting income to a $US25.7 billion ($38.2billion) loss in 2022.
The report says losses on the personal auto line represented more than 80% of the 2022 personal lines loss and was nearly eight…
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