Best’s special report: Preliminary results for the first quarter of 2021 show that the underwriting income of the U.S. property/accident insurance industry has been reduced by more than half


According to preliminary financial results, the net underwriting income of the US property/casualty insurance (P/C) industry fell by 53% in the first quarter of 2021 compared to the same period last year.The financial review in the new Best Special Report, “First glance: 2021 three-month property/unexpected financial performance”, the data comes from the company’s three-month 2021 interim statutory statement received as of June 1, estimated to account for 99% of the total P/C industry’s net The premium is written.

The report shows that in the first quarter of 2020, the comprehensive ratio of the property insurance industry fell from 95.0 to 96.4. The estimated total loss of catastrophe in the three-month period of 2021 is 6.9 percentage points, which is higher than the 3.3 percentage points in 2020. The first quarter of 2020. Although the net earned premiums increased by 2.3% in the quarter, the losses incurred, the increase in loss adjustment expenses (LAE) and underwriting expenses, and the sharp increase in policyholder dividends by 72%, led to a decline in underwriting income.

Net investment fell slightly, and the decline in underwriting income led to a 12.9% decrease in pre-tax operating income. As tax expenditure fell by 18.4%, realized capital gains increased by US$4.1 billion, and industry net income increased by 11.4% year-on-year to US$20.2 billion.

To access a full copy of this special report, please visit

AM Best is a global credit rating agency, news publisher and data analysis provider focused on the insurance industry. The company is headquartered in the United States, has operations in more than 100 countries, and has regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.For more information, please visit

Copyright © 2021 AM Best Rating Services, Inc. and/or its affiliates. all rights reserved.


Source link

Recommended For You

About the Author: News Center