Milliman News

P/C Market Profit Improvement Expected to Continue Through 2026: Triple-I, Milliman

The “gap is closing” between commercial lines and personal lines underwriting results as the insurance industry overall is expected to continue its run of premium growth and improved underwriting results over the next 2 years. According to a report from …

PFAS Liability for Water District Remediation Costs Estimated Up to $175B

Economic liability associated with the remediation of perfluoroalkyl and polyfluoroalkyl substances (PFAS) in U.S. water districts is estimated to be between $120 billion and $175 billion, according to global consulting and actuarial firm Milliman Inc. PFAS are often referred to …

P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast

Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025, according to a report from the Insurance Information Institute (Triple-I) …

Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best

The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7 and personal lines at 109.9, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman. …

Despite Hard Market, P/C Combined Ratio Forecast Near 104 for 2023

Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman. The hard market …

Inflation, Catastrophe Losses Lead P&C Underwriting Loss in 2023

The overall property/casualty industry is expected to finish 2023 with a net combined ratio of 102.2, according to a recent webinar by the Insurance Information Institute (Triple-I) and Milliman. Triple-I and Milliman shared the results of their quarterly report, Insurance …

Tale of Two Markets: Largest CR Gap Between Personal, Commercial Lines in 15 Years

The 2022 property/casualty insurance industry saw a stark difference between the combined ratio of commercial lines at 94.8, while personal lines came in at 109.9. It was the largest difference in about 15 years, according to actuaries at the Insurance …

Report from California Insurers Calls for More Freedom to Use Wildfire Catastrophe Models

Associations representing insurers operating in California on Tuesday released an analysis from Milliman showing wildfire catastrophe models would improve homeowners’ access to insurance in the face of climate-induced wildfire risk. The analysis was commissioned by the Personal Insurance Federation of …

P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist: Triple-I, Milliman

The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a hard P/C market are expected …

Report: Previously Flooded Carolina Homes Pose Risk to Buyers

A new Natural Resources Defense Council report exposes potential hidden costs associated with purchasing a single-family home with a flood history in North Carolina. According to the report, “Estimating Undisclosed Flood Risk in Real Estate Transactions,” these costs can add …