Verisk/APCIA: US P&C insurance industry saw CR increase to 102.7% in 2022
The US P&C industry’s financial results deteriorated significantly in 2022 with a $26.9bn net underwriting loss – the largest since 2011 – with insurers now facing a “significant challenge” to close the rate gap and meet their growing cost of capital, according to a joint study by Verisk and the APCIA.