P&C slid to $6.6bn 2016 underwriting loss in US: Best

Underwriting profitability disappeared from the US property and
casualty industry last year as aggregate performance figures show
carriers collectively fell to a $6.6bn loss following three
money-making years, according to AM Best.
Combined with sagging investment income the industry's
aggregate net income dropped 24 percent to $41.8bn, the ratings
company said. The collective underwriting loss in 2016 stemmed from
evaporating favourable reserve development and catastrophe losses
that surged to