Search
 

U.S. P&C industry marks first half of 2017 with $5.1 billion underwriting loss

Despite a marked decline in net income during the first half of 2017, the property and casualty industry surplus reached a record high. Here's why.

By Elana Ashanti Jefferson | Updated on September 01, 2017
The industry’s record surplus is due in part to a $14 billion increase in unrealized gains. (Photo: iStock)

Despite a marked decline in net income during the first two quarters of 2017, American property and casualty industry surplus reached a record $703.4 billion, according to new reporting from A.M. Best.

In its most recent installment of “A.M. Best First Look,” a survey designed to provide early financial insights on the P&C industry, researchers concluded that insurers recorded a total net underwriting loss of $5.1 billion for the first six months of 2017.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Elana Ashanti Jefferson

Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

More from this author

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.