If property and casualty results maintain their momentum through the 2013 fourth quarter, the industry could see its first yearly underwriting profit since 2009, A.M. Best says.
As it is, A.M. Best notes that the industry has been profitable through the first three quarters of 2013—the first time it has done so for this time period since 2007.
The ratings agency credits the industry’s results to lower catastrophe and non-catastrophic weather losses and higher premium volumes. Net premiums written were up 4.5% compared to the first nine months of 2012, up slightly from the 4.4% growth rate though the first half of the year.
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