The U.S. property/casualty mutual segment has leaned on investment income to maintain strong overall financial performance and grow surplus in the face of underwriting volatility and severe weather-related activity, according to an AM Best report.
To combat underwriting losses and rising reinsurance costs, mutual insurers have pursued rate adequacy, with additional rate increases expected in the second half of 2024 and continuing into 2025, AM Best said.
AM Best’s report, “