Barring any late-year catastrophic events, the U.S. P&C industry appears to be on track to post a third consecutive year of underwriting profits.
Net premiums written increased by 3.9% to $258.8 billion, while net income jumped 17.9% to $31 billion, A.M. Best says. However, policyholders' surplus remained flat from its 2014 position, due to increased stockholder dividends, other changes in surplus and unrealized capital losses.
Both commercial and personal lines underwriting improved in the first half of 2015. All major lines showed higher premiums—and growth of net premiums earned outpaced loss growth, which benefits the loss ratio.
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