2022 US Auto Insurance Market Report

2022 US Auto Insurance Market Report

The combination of macroeconomic developments and factors unique to the US property and casualty insurance business have made 2022 a mix of the best and worst of times for the industry.

A hard market in most commercial casualty lines, lingering effects from the pandemic that have helped hold losses below pre-2020 levels, strong economic growth, and tailwinds on current and future overall profitability from rapidly rising interest rates have temporarily created something approaching an ideal operating environment for a portion of the industry. See what's ahead for both private and commercial auto insurance lines in the latest market report.

If you are a client of S&P Capital IQ Pro, you can access the complete 2022 US Auto Insurance Market Report here. Receive complimentary access to the executive summary here.

Key findings include:

We expect the private and commercial auto insurance businesses to continue to generate low returns relative to many other key P&C lines due to factors such as price inflation, social inflation, and rising claims frequency back towards pre-pandemic levels. The private auto business will remain characterized by intense competition while carriers will remain more selective in their commercial auto risk appetite.

A hard market in many P&C business lines will slightly decrease the auto insurance business’s combined contribution to the industry’s overall direct premiums written over the course of our outlook. Private and commercial auto will still have the largest impact on top and bottom-line outcomes for the industry.

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