Stability tempered by underperformance in auto and emerging tariff concerns
The US commercial lines insurance sector reported stable underwriting results in 2024, with the industry posting a 97% combined ratio, according to a new report from Fitch Ratings.
This marked the fourth consecutive year of underwriting profitability, excluding mortgage insurance and financial guaranty segments.
Workers’ compensation continued to lead all major commercial lines, maintaining its position as the top-performing segment. The five-year average combined ratio for workers’ compensation stood at 89% from 2020 through 2024.
It also remained the main …