U.S. P&C Insurers Post Strong Underwriting Gains Through First Half of 2026; Line-Specific and Geographic Challenges Persist

Verisk and the American Property Casualty Insurance Association reported an estimated $31.7 billion net underwriting gain for the U.S. P&C insurance industry in the first half of 2026, up from $11.6 billion a year earlier when Los Angeles wildfire catastrophe losses weighed heavily on results. The industry combined ratio improved to 92.7 from 96.5 and net income after taxes rose 53% to $77.8 billion, helped by lower catastrophe losses and higher investment income, while net written premium growth slowed to 2.1% from 5.2% as rate increases moderated.

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