Wrecked automobile. Material premium rate increases over successive renewal periods and a return to more favorable claims frequency experience are key contributors to fundamental improvement in the U.S. personal auto insurance market. (Photo: Shutterstock)

Steady improvement for U.S. personal auto insurance companies has culminated in the sector's best underwriting performance in 10 years, according to Fitch Ratings in a new report.

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Fundamental improvement

The U.S. personal auto insurance market has shown continued fundamental improvement that is pointing to full-year statutory underwriting profit for the first time since 2007, according to the findings of the report titled, "U.S. Personal Auto Insurance Market: Underwriting Recovery in Full Swing."

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Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].