P&C insurers triple underwriting profit in the first half of 2026

According to AM Best, U.S. property and casualty (P&C) insurers generated an underwriting profit of 31.2 billion USD in the first six months of 2026, nearly three times the 10.9 billion USD reported for the same period in 2025.

This significant improvement was primarily driven by a 3% increase in net earned premiums, combined with lower incurred losses and settlement costs.

The combined ratio improved by 4 percentage points year over year, reaching 92.5%.

Over the reporting period, the operating result before taxes also nearly doubled, reaching 79.1 billion USD.