U.S. property/casualty insurers report a $4.1B gain in 2024, reversing a $32.1B loss in 2023.

The U.S. property/casualty insurance industry saw a significant turnaround in 2024, reporting a $4.1 billion underwriting gain in the first nine months, compared to a $32.1 billion loss in the same period in 2023. This improvement was driven by higher premiums, reduced catastrophe losses, and a boost from capital gains at Berkshire Hathaway companies. The industry's combined ratio improved to 97.9, from 103.7 in 2023, reflecting better profitability.

3 months ago
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