It’s a Surprisingly Good Time to Be in the Property Insurance Business
Despite recent headlines about a crisis in the property and casualty insurance market, particularly in places like California, insurers are reporting strong results. The improvement is attributed to pricing and coverage adjustments made in response to inflation and recent disasters.
Warren Buffett recently described the improvement in Geico’s property and casualty insurance business in 2024 as “Spectacular.” This positive development comes after a period of significant challenges in the industry. The adjustments made by insurers have helped to offset the impact of inflation and disasters, leading to strong results.
The property insurance business is experiencing a turnaround, with insurers benefiting from the changes they’ve made. This improvement is a notable development in an industry that has faced significant challenges in recent times.
