The Zacks Property and Casualty Insurance industry continues to grapple with issues like higher catastrophe events, both natural and man-made, which drag down underwriting profit.Per Aon, estimated total economic losses were $380 billion, while insured losses were $118 million in 2023.Per AM Best, total net underwriting loss was $38 billion in 2023, a 10-year high, largely attributable to weather-related losses, high inflation as well as reinsurance pricing pressure. The combined ratio was 103.7 for the sam ...