By Max Dorfman, Research Writer, Triple-I
Severe convective storm losses—the highest in decades—significantly affected the 2023 net combined ratio for the property/casualty industry, according to the latest underwriting projections by Triple-I and Milliman actuaries.
The 2023 net combined ratio is now forecast to be 103.8, with hard markets continuing the net written premium growth, forecast at 8.3 percent. Combined ratio is a standard measure of underwriting profi