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H1 property/casualty net underwriting gain up sharply: Verisk, APCIA - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers H1 property/casualty net underwriting gain up sharply: Verisk, APCIA by Matthew Lerner P/C Insurers , P/C Pricing Sep 2, 2026 The U.S. property/casualty insurance industry had an estimated net underwriting gain of $31.7 billion in the first half of 2026, more than double the $11.6 billion underwriting gain through midyear 2025 when earnings were blunted by losses from the Los Angeles wildfires. The industry’s combined ratio for the six months ended June 30 improved to 92.7% from 96.5% in the first half of 2025, according to a report Wednesday from Verisk and the American Property Casualty Insurance Association. Net income for the sector jumped 53% to $77.8 million in the first half of 2026 after falling 45.5% in the year-ago period. Net written premiums increased 2.1% to $499.2 million, less than half the net premium growth of 5.2% from the first half of 2025. Net investment gains, comprised of investment income and capital gains and losses, increased 2.2% to $59.6 million. The policyholders’ surplus grew 1.5% to $1.3 trillion. Rates in the first half for property lines softened, while casualty lines remained under pressure, the report said. “While overall industry profitability improved in the first half of 2026, largely due to a decline in insured natural-catastrophe losses compared to the first half of 2025 following the Los Angeles wildfires, insurers’ loss experience and profitability varied widely from state to state,” Robert Gordon, senior vice president of policy, research and international at APCIA, said in the report. Although insured natural-catastrophe losses provided a temporary reprieve in the first half of 2026, “bodily injury and commercial liability losses continued to worsen. Excess liability, umbrella liability, commercial auto, and other casualty lines experienced ongoing pressure from escalating claim severity, nuclear verdicts, and rising medical costs,” Mr. Gordon said. 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