In 2023, the medical professional liability (MPL) line saw a 3.6% increase in direct written premium, which reached $9 billion, according to AM Best.
The premium growth was spurred on by favor pricing trends due to a firming market, according to the ratings agency.
Further, the sector's net income was up 6.5% in 2023, AM Best reported. The increases were largely driven by significant gains in investment income, which was due to insurers repositioning their portfolios to take advantage of higher interest rates.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
