Commercial Lines Continue to Perform Better Than Personal, Though Overall Underwriting Loss Persists, New Insurance Information Institute/Milliman Report Shows
January 30, 2024
January 30, 2024
NEW YORK, Jan. 30 (TNSres) -- The Insurance Information Institute issued the following joint news release with Milliman:
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9. Record levels of severe convective storm losses are the single biggest driver of the overall adverse results. Hard markets continue with 2023 net written premium growth forecast at 9.0%, according to the late . . .
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9. Record levels of severe convective storm losses are the single biggest driver of the overall adverse results. Hard markets continue with 2023 net written premium growth forecast at 9.0%, according to the late . . .