U.S. property/casualty insurers continue to face substantial underwriting losses on commercial automobile insurance and, following a statutory combined ratio of 108% in 2018, the segment is poised for a ninth consecutive year of underwriting losses in 2019, according to Fitch Ratings.
Fitch said it anticipates only moderate results improvement this year.
Despite repeated underwriting and pricing actions over multiple renewal cycles, commercial auto remains among the weakest major commercial lines P/C segments.