Business UpdateJun 23, 2026, 08:16 AM
U.S. P&C Industry Q1 2026 Underwriting Gain $15.8B
AI Summary
Verisk and APCIA reported that the U.S. property/casualty (P&C) insurance industry's financial performance significantly improved in Q1 2026. The industry posted an estimated net underwriting gain of $15.8 billion, a strong rebound from an $864 million loss in Q1 2025, driven by moderating inflation and fewer natural catastrophes. Net income after taxes more than doubled to $40.9 billion. However, net written premium growth slowed sharply to 2.9%, and broader market conditions remain mixed with ongoing pressures from legal system abuse and rising claims severity.
Key Highlights
- U.S. P&C industry net underwriting gain of $15.8B in Q1 2026, up from $864M loss in Q1 2025.
- Net income after taxes increased to $40.9B in Q1 2026 from $19.4B in Q1 2025.
- Combined ratio improved to 92.4% in Q1 2026, down from 99.2% in Q1 2025.
- Net written premium growth slowed to 2.9% in Q1 2026 from 6.8% in Q1 2025.
- Policyholders’ surplus increased to $1.24 trillion from $1.09 trillion YoY.
- Realized capital gains rose to $8.8B in Q1 2026 from $3.7B in Q1 2025.
Price Impact
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