06/25/2025
The insurance personal lines market has taken some hard hits in recent years. According to AM Best, the industry still posted a nearly $12 billion loss in 2024 - but it's a dramatic improvement from the $32.8 billion loss in 2023. AM Best also upgraded its market outlook from negative to stable. That shift is mainly due to rate adjustments many carriers made and being more strict on the business/risk they take on. Some companies that had previously slammed the brakes on new business are cautiously reentering the market. It's not exactly smooth sailing yet, but there's more capacity out there than a year ago in most regions.