The commercial insurance property and casualty accident year loss ratio has continued to improve, falling from 76.9% in 2011 to 63.4% in the first half of 2016 when adjusted for prior year development from 2012 to 2015. The loss ratio improved each year over this period and remained below the target of 64.5% in the first quarter of 2017, indicating stronger underwriting performance and profitability in commercial lines insurance.