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According to AM Best, U.S. property and casualty (P&C) insurers closed the 2025 fiscal year with underwriting profits of 60.9 billion USD, marking a sharp increase of 175.6% compared to the 22.1 billion USD recorded in 2024.
This growth is primarily driven by a 6.1% rise in net earned premiums and a decline in natural catastrophe losses.
The P&C combined ratio stands at 92.9%, including 7.6 points attributable to natural catastrophe-related expenses.
As of 31 December 2025, the pre-tax operating result increased by 43.2% to reach 153.1 billion USD.
Net profit for the overall market totaled 150.9 billion USD, down 9.5% year-on-year.
