Jason Woleben

The US property and casualty industry reported a drastic improvement in underwriting results in 2024 as its net combined ratio improved to 96.5%, approximately 5 percentage points better than the prior year.

Most insurers faced difficulties between April 2, the day President Donald Trump announced the tariffs, and April 16. The insurance index fell 5.56%, slightly better than the S&P 500 and much better than the banking index.

Trupanion is the largest underwriter of pet insurance in the US with $1.09 billion in direct premiums in 2024, followed closely by Nationwide with $1.02 billion.

US property and casualty direct premiums written increased 8.0% to $1.05 trillion in 2024, breaching the trillion-dollar mark for the first time.

State Farm solidified its position as the largest US homeowners insurer with its most rapid growth in the business line in two decades.

The pet insurer saw an average short interest of 26.4% in 2024. Insurtechs Lemonade and Root were also among the most shorted insurers in 2024.

The life insurer jumped over 20% after a press report said the company is considering a sale.

Manulife Financial entered into a $1.9 billion block long-term care reinsurance deal in November 2024 with Reinsurance Group of America, which followed its C$6.0 billion deal with Global Atlantic at the end of 2023.

The island's established regulations, solvency regime and pool of expertise, coupled with some offsets, will likely override the additional tax bill.

The rate of growth in US excess and surplus lines premium volume continued to slow in 2023, but the market's importance to the property and casualty sector has never been higher, according to an analy

An initial public offering would allow the Florida insurtech to capitalize on a hardening homeowners market and its rapid growth in the Sunshine State.

The US property and casualty industry's net combined ratio was 101.7% in 2023, compared to 102.5% a year earlier. Personal lines showed improvement compared to slight deterioration in commercial lines.

The industry logged $347.68 billion in individual annuity considerations in 2023, an increase of about $61 billion from the $286.15 billion seen in 2022.

Thirty US companies disclosed they transferred pension obligations to a third-party insurance company in 2023, totaling $16.80 billion in obligations transferred and impacting about 150,000 plan participants.

Florida property insurers collectively reported net income of $147.3 million for 2023 thanks to much improved underwriting results and a big swing in investment returns. It was the first time the industry reported full-year net income since 2016.

The Warren Buffett-led conglomerate dropped Markel and Globe Life from its investment portfolio during the fourth quarter of 2023.

The nationwide calculated weighted average increase in US homeowners insurance rates was 11.3% in 2023, according to S&P Global Market Intelligence’s RateWatch application.

The 10 largest US private auto insurers nationwide saw calculated effective rate increases of greater than 10% in 2023, according to an S&P Global Market Intelligence analysis.

The total interest maintenance reserve liability for life sector general accounts declined to $8.84 billion as of Sept. 30 from $12.20 billion at the end of June.

State Farm is the fourth major insurer to either restrict or cancel homeowners coverage in the Golden State since November 2021.