US insurers post underwriting loss of $26.5bn in 2022
US property/casualty insurers see underwriting loss for last year increase despite an 8.4% increase in net earned premiums and a 21.4% decline in policyholders’ dividends, while incurred losses and loss-adjustment expenses rise 13.9%
Sector’s combined ratio deteriorates 3.0 points to 102.7%, driven by personal lines losses and the impact of Hurricane Ian