The U.S. personal insurance sector is positioned for improving underwriting performance in 2024.
According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from higher inflation and supply chain shortages has subsided, combined with rapid written premium growth from significant rate increases.
Personal lines insurance is the largest U.S. P/C insurance market sector, representing over 51% of 2023 industry net written premiums (NWP). The latest report from Fitch Ratings found the U.S. personal lines insurance sector endured a third consecutive year of underwriting los