Net income for the US real estate / non-life insurance industry decreased by 27.5% to $ 35.1 billion in the first nine months of 2020, according to a report published Monday by Verisk Analytics Inc. and the American Property Casualty Insurance Association.
The industry's total share deteriorated to 98.8% as of September 30, 2020, compared to 97.8% in the first nine months of 2019, when net subscription gains decreased to $ 300 million from $ 5.4 billion a year earlier, according to the report .
Net written premium growth accelerated to 2.9% for the 2020 period, up from 2.7% over the same period in 2019.
The deterioration in insurance results was partly due to increases in disaster-related losses, which more than doubled to 47, $ 1
PCS, a Verisk company, reported that 2020 set a record for the number of US catastrophic events.
This year's disasters included 19 events with at least $ 1 billion in direct insured losses in the United States, including the first riot and civilian accident that exceeded this threshold.
The United States also recorded one of the largest declines in the Verisk Maplecroft Civil Unrest Index 2020 – increasing to the 34th risky jurisdiction at the turn of the year. The report says from number 91 during the second quarter. Insurers' net investment decreased to $ 37.2 billion in the first nine months of 2020 from $ 40.6 billion the previous year, according to the report.