The U.S. property/casualty insurance industry’s financial performance improved through the first three months of 2026 when compared to a year ago, according to Verisk, a strategic data analytics company, and the American Property Casualty Insurance Association (APCIA), a trade association for home, auto and business insurers.
During the first quarter, industry financial volatility was similar in the first quarters of 2023 and 2024 while the industry posted an estimated net underwriting gain of approximately $15.8 billion. This is a rebound from the $864 million underwriting loss that occurred a year ago as a consequence of the impact of natural disasters. Results also improved because of some carriers have returned personal auto premiums through elevated policyholder dividends.
Other findings include:
Incurred losses and loss adjustment expenses decreased by 9.6 percent, and the combined ratio improved to 92.4 percent.
Net written premium growth slowed to 2.9 percent while net earned premiums rose 3.8 percent.
Policyholders’ surplus increased to $1.24 trillion from $1.09 trillion, and realized capital gains increased to $8.8 billion.
Net income after taxes increased to $40.9 billion.
Results are based on quarterly statements filed with insurance regulators by private property/casualty insurers in the United States and are consolidated estimates based on the reports.