In 2022, personal lines proved a drag on the industry's overall performance and caused a 31% decline in statutory earnings for the year. Catastrophe losses and poor results from auto segments pushed 2022's combined ratio up 3 percentage points. (Credit: ipopba/Adobe Stock)
Significant premium rate growth in auto and property lines, which have been underperforming, is likely to help improve underwriting results in the U.S. Property & Casualty market this year, according to Fitch Ratings, which has a neutral outlook for the P&C industry based on a stable to improve 2023 performance.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
