A look at first-quarter results of the 50 largest U.S. insurers shows the industry may be starting to see the benefits of price increases the last two years.
ALIRT Insurance Research's P&C Composite shows a first-quarter accident-year combined ratio of 99.4, compared to 103.4 for the same period in 2012.
ALIRT reports this is the best result since the first quarter of 2007, when sizeable reserve releases from the previous hard-market cycle were benefitting results. Current results partly reflect the lack of large catastrophe losses, as well as comtinued improved pricing during the first three months of 2013.
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