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Member, Beacon International Group, Ltd.
Property/casualty insurers reported $258.09 billion in net premiums written for the first nine months of the year, a 0.2% decline, according to an analysis by Charlottesville, Va.-based SNL Financial L.C.
The statutory data, which is based on information from 76.7% of expected individual property/casualty insurers filing reports with state insurance departments, excludes mortgage and bond and accident and health insurers, but includes personal lines insurers, SNL said Thursday.
The insurers reported a 100.9% combined ratio for the nine-month period this year vs. 100.3% for the same period last year.
For the quarter, the insurers reported a 2.2% increase in net premiums written, which rose to $88.75 billion. The group posted a 99.6% combined ratio vs. 100.3% for the third quarter last year, according to SNL.
Commercial property/casualty insurance rates dropped an average of 4% in October, Dallas-based electronic insurance exchange MarketScout reported Friday.