U.S. Property and Casualty Insurers Report $35 Billion Profit in 2025

A recent analysis by AM Best reveals that U.S. property and casualty insurers achieved an underwriting profit of $35 billion in the first nine months of 2025.

This represents a substantial increase from the $3.7 billion reported during the same period in 2024. Throughout this timeframe, the combined ratio for the P&C sector improved by four points, reaching 94%, underscoring efficient risk management and regulatory compliance within the industry.

The operating profit before tax saw a 52% surge, reaching $102.4 billion. This enhancement in financial performance is primarily due to decreased losses from natural disasters, especially notable in the third quarter of 2025. These strong financial metrics emphasize the sector's strengthened operational capabilities and improved resilience in managing claims and underwriting challenges.