The Financial Times revealed that home insurance companies in the United States suffered the worst loss of the century in 2023 due to being forced to pay more insurance amounts than expected.
The newspaper indicated that a combination of natural disasters, inflation, and population growth in vulnerable areas put this vital financial market under severe pressure.
Home insurers posted a net loss of $15.2 billion last year, according to figures from credit rating agency A.M. Best. That was the worst figure since at least 2000 and more than double the previous year’s loss.
Source (Al Arabiya.net Website, Edited)
