Dismal commercial lines growth restricts P/C industry results
Article Abstract:
The property and casualty insurance industry has experienced little growth in commercial lines premiums and only moderate gains in personal lines premiums. The disparity in growth rates between the two lines has been widening since 1987, and the difference between personal and commercial lines was over seven points in 1992. Combined ratio results for personal and commercial lines have both grown since 1987, with the exception of 1991. In that year commercial lines combined ratios fell slightly.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1993
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Reviewing the impact of catastrophe losses
Article Abstract:
Insured losses for 1992 are expected to be $22 billion due to natural disasters such as hurricanes Hugo and Iniki. Although investment income and after-tax write-offs may compensate for some of these losses, the industry will still have to pay $14 billion in catastrophic losses. Underwriting losses for homeowners insurance may triple to $11.5 billion, creating a combined ratio of 156.5. Because of such catastrophes, the homeowners' insurance market has not registered a profit since 1988.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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