In 2022, the U.S. private auto insurance industry reported its worst underwriting results in over two decades, according to a S&P Global Market Intelligence analysis.
The net combined ratio for the sector — when excluding policyholder dividends — was 111.8. That figure was 11 points higher than 2021’s ratio.
The 2022 net combined ratio topped the previous high of the past 27 years — 110.4 seen in 2000 — according to the S&P review of available annual regulatory statements.
