US P&C carriers’ Q1 net profit rises despite cat-hit underwriting profit drop
Published: Wed 28 Jul 2021
US property and casualty (P&C) insurers saw their collective net profit after tax increase in the first quarter, but a series of extreme loss events – notably the winter storms in Texas – fuelled a deterioration in their combined ratio, according to analysis from Verisk and the American Property Casualty Insurance Association (APCIA).