Early 2022 financial headlines have been rife with bad news.
Inflation, supply-chain problems, staffing and product shortages, global political strife, waning pandemic pressures, and rising home and car prices are just some of the issues currently contributing to economic volatility.
But not necessarily in the insurance world. In a show of the industry's historic resilience, 2021 premium reporting compiled by S&P Global Market Intelligence reveals that many insurance carriers showed notable premium growth in several lines of P&C insurance business — particularly commercial lines — over the 12-month reporting period.
"The growth rate is really the big headline for last year," says Tim Zawacki, principle research analyst for the U.S. insurance industry at S&P Global Market Intelligence. "The amount of rate increases and the momentum from the economic recovery combined for remarkable expansion in written premium."
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
