US property/casualty industry results much improved in 2024: Best
- October 22, 2025
- Posted by: Web workers
- Category: Finance
The U.S. property/casualty industry swung to a $22.9 billion net underwriting gain in 2024 from a $21.3 billion loss in 2023, according to a report Tuesday from A.M. Best.
Net earned premiums increased 8.7% to $908.2 billion, while net investment income jumped 21.3% to $85.2 billion.
The industry’s combined ratio improved to 96.6% from 101.6% in 2023. Best estimates catastrophe losses accounted for 8.7 points of the 2024 combined ratio.
The property/casualty industry’s net income soared 89.8% to $169.3 billion. This included a combined $22.8 billion change in net realized capital gains at four Berkshire Hathaway Insurance Group companies, the report said.
The property/casualty industry surplus rose 6.2% to $1.1 trillion at the end of 2024.
The data in the report is from companies whose 2024 annual statutory statements were received as of March 11, which account for an estimated 97% of total industry net premiums written and 96% of policyholder surplus, according to Best.
