US P&C insurers profits drop 22% amid COVID-19 crisis, finds report


US property/casualty (P&C) insurers saw a 21.6 percent decline in net profit to $25 billion in the first half of 2020, as realised capital gains fell $5.5 billion due to increased underwriting expenses and policyholder dividends, largely stemming from COVID-19-related factors.

AM Best, Property, Casualty, Insurance, Profits, First half 2020, North America, COVID-19

Intelligent Insurer