The Los Angeles wildfires that opened 2025 were the costliest insured wildfire event on record, with about $40 billion in insured losses, according to Swiss Re. The same year, U.S. property and casualty insurers posted a $60.9 billion underwriting profit, nearly triple the year before, according to AM Best.
Are insurers cashing in on consumer catastrophes?
Home insurance profitability
Home insurers ran underwriting losses in five of the six years through 2023, and lost money again in 2024, when they paid out about $106 in claims and expenses for every $100 they collected, according to AM Best.
The industry finally turned a profit in 2025…
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