US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years

The U.S. property/casualty insurance industry posted another record in the first quarter of 2026, with a combined ratio of 89.5—before policyholder dividends—standing as the best first-quarter underwriting result in at least 25 years. The insight comes from S&P Global Market …

Commercial risk teams are responding with tighter controls, scenario modeling, and broader collaboration across underwriting, claims, and cyber operations.

Leaders continue to prioritize resilience planning while balancing cost, coverage terms, and operational exposure in a changing market cycle.