Increasing incurred losses continue to hinder underwritingresults, according to A.M. Best research. The Property &Casualty industry reported a first-quarter net underwriting loss of$841.5 million, Best states in its latest “First Look” report.

That’s significantly less than the $2 billion net underwritingprofit recognized in Q1 2016 — and the only first-quarterunderwriting loss reported over the last five years, according toBest.

What’s more, based on responses from its quarterly survey, Bestestimates P&C industry three-month-2017 catastrophe losses of$7.6 billion, up 48% from the same period of 2016 and accountingfor six points on the industry’s overall combined ratio.

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