AM Best said in a new report that ongoing loss reserve takedowns and enhanced workplace safety measures were key drivers of another strong year of underwriting profits in 2025.
At the same time, the firm said the workers' compensation segment could be approaching an inflection point with combined ratios increasing, reserve redundancy shrinking and premium levels trending down.
Overall, AM Best reports that workers' compensation insurers generated a combined ratio of 93.2% in 2025, which was lower than all the major long-tailed casualty lines.
While workers' compensation results ...
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