Underwriting losses mount for US P&C industry: AM Best

Property and casualty insurers in the US collectively lost $5.1bn
on their underwriting operations in the first half of this year,
more than double the loss in the corresponding period of 2016, AM
Best has said, citing statutory reports.
Incurred losses and loss adjustment expenses climbed 6.1 percent in
the six months through June, while underwriting costs rose 1.8
percent, AM Best said today in a report. The combined outlays
surpassed the 3.7 percent increase in net premiums earned.
The...