Insurance
Home›Insurance›Industry & Deals›Big I report says insurance market is stabilizing, wit…
Big I report says insurance market is stabilizing, with carriers profitable
The report points to a drop in the industry combined ratio from 98% in 2022 to 88% in 2025 as carrier underwriting improves.
Insurance market stabilizing is creating a more favorable environment for independent agencies, especially as insurers regain confidence and start competing more actively for new business, according to Coverager. The Big I 2026 Market Share Report says independent agencies continue to hold control in commercial lines, while they are also gaining ground in personal lines. Coverager adds that the independent agency channel has “ticked up” in personal lines as overall conditions have shifted toward steadier growth and a softening market that is likely to bring more competition. Carrier profitability is improving, the report says, which can translate into more options for insurers, including expanding underwriting appetite, revisiting markets they exited, and competing more aggressively for desirable accounts. Coverager notes that underwriting improvements do not automatically cause immediate appetite changes, so agencies are urged to track carriers’ evolving market positions and risk appetites. The report highlights the industry’s combined ratio falling from 98% in 2022 to 88% in 2025, reflecting stronger underwriting performance. Coverager also cites slower surplus lines growth in 2025, with market share rising from 9.7% in 2024 to 9.9% in 2025 and premiums increasing from $101.3 billion to $109.1 billion.