According to a joint report by the Verksk and the American Property Ascension Insurance Association (APCIA), the US Property/Property Insurance Industry has reported its first full year’s underworlding increase in four years, which has increased pure income to $ 170 billion.
Global data analytics and technology providers and insurance company Trade Association noted that net income data includes $ 70 billion from the Burkeshire Heathway Group from insurance investors. Except that the benefit of huge investment for an enterprise, the entire year 2024 net income is estimated to be 100 billion for the industry as a whole.
Expect $ 100 billion
Last month, Plus Packer, S&PGMI, has reported that it has marked for the first time in the calendar year that the industry has made net income of more than $ 100 billion.
In both S&PGMI and Veerk/APCIA reports, the total industry of more than $ 20 billion in the total industry underworld was more than $ 20 billion in the total industry’s net underworld profit of more than $ 2020, with more than $ 20 billion in total profit of more than $ 20 billion.
“When the drivers with many losses of 2023 remained up to 2024, the first time after 2020, the ability to bring the premium closer to the desired level was benefited for the first time since 2020, Matt said in a statement, Surbh Thamka said in a statement.
In 2023, the overall net written premium increased by 8.7 percent to $ 926 billion, compared to $ 851 billion.
The joint ratio improved to 96.4 in 2024, which is higher than 5 points than 101.6 overall industry data recorded for 2023.
Particularly in the personal auto, Tamka noted the necessary premium adjustment, especially, the best results from personal lines. He said, “Commercial auto -premium, following a similar trend, its growth rate is not similar to the level seen in 2023.
The challenges that damage the industry include property catastrophe, Khamka said, adding that since 1950, the worst year has been the worst year for devastating losses since 1950.
He said, mostly, in particular, Hurricane Milton claimed to be 113 percent higher in 2023, claiming the destruction of the fourth quarter, with a series of storms late in the season, highlighting both fluctuations and financial pressures.
Senior Vice President, Policy, Research, and International, Robert Gordon, took note of the devastating continued in 2025 in the APCIA. “This time, the next year, homeowners’ insurance companies may have reported a seven -year deficit on January 7, including record insurance losses caused by California Wild Fire.
Despite the devastating losses in 2024, a four -fold increase in net revenue (including Burkeshis National Compensation, National Fire and Marine, and Columbia Insurance Company for the Columbia Insurance Company helped to increase policy holders to about $ 1.1 billion.
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Market property crash to reduce USA profits
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