How Much U.S. P/C Insurance Bottom Line Grew in 2019: A.M. Best

Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report.

Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in 2018, even as net investment and other income remain flat. With underwriting income gains, pretax operating income grew 10 percent for 2019, to $61.8 billion, A.M. Best said.

A.M. Best said that a 4.7 percent growth in net premiums earned offset increases in incurred losses as well as loss adjustment expenses, underwriting expenses and policyholder dividends.

Other 12-month results for the U.S. P/C insurance industry, according to the A.M. Best report:

The full report is “First Look: 12-Month 2019 Property/Casualty Financial Reports.” It is based on data from companies that filed their 2019 annual statements as of March 4, 2020. A.M. Best said that the companies represent approximately 97 percent of total industry net premiums written and 95 percent of policyholder surplus.

Source: A.M. Best