Property/casualty insurance industry profit triples: Report
- September 9, 2025
- Posted by: Web workers
- Category: Finance
Net income across the property/casualty insurance industry more than tripled last year to $169.6 billion, from $40.9 billion in 2023, according to a report Thursday from data analytics company Verisk Inc. and the American Property Casualty Insurance Association.
The net underwriting gain swung to $24.8 billion from a 2023 loss of $21.8 billion.
Net written premiums increased 8.7% to $925.8 billion, while net investment income rose nearly 18% to $83.96 billion.
Net realized capital gains soared to $79.68 billion from just $2.2 billion in 2023.
The property/casualty insurance industry combined ratio improved to 96.4% last year from 101.6% in 2023.
The policyholders’ surplus increased from $1,013 billion at the end of 2023 to $1,082 billion at the end of 2024.
“While many of the loss drivers of 2023 persisted into 2024, the industry’s ability to bring premiums closer to the requisite levels has led to an underwriting gain for the first time since 2020,” Saurabh Khemka, co-president of underwriting solutions at Verisk, said in a statement with the report.
The preliminary 2024 property/casualty insurance industry results represent consolidated estimates derived from annual statements submitted by insurers to insurance regulators, which represent approximately 97% of all business underwritten by private U.S. property/casualty insurers.
