Happy Wednesday! In this week’s Big I Buzz: the Big "I" outlines key takeaways from the new tax law, and Swiss Re offers an updated look at the US P&C insurance landscape.

Federal Tax Reform: The Big ‘I’ Shares Takeaways From New Tax Law

With the One Big Beautiful Bill (OBBB) now signed into law, the Big “I” has released a summary to help independent insurance agents understand the tax provisions included in this sweeping legislation. The new law represents a major overhaul of U.S. tax policy, making many elements of the 2017 Tax Cuts and Jobs Act (TCJA) permanent while introducing additional reforms.

A key highlight for many independent insurance agencies: the bill permanently extends the 20% pass-through deduction for qualified business income under Section 199A.

Read more and view the full summary from the Big “I” here.

Swiss Re: US Property & Casualty Outlook: Sunny Skies, but Pack an Umbrella

Swiss Re has released its latest outlook for the U.S. Property & Casualty industry, noting that the sector achieved a 99% combined ratio in Q1 2025—an encouraging sign of resilience despite challenges like the California wildfires.

Key takeaways from the report include:

• The 2025 outlook remains positive, supported by historically strong—though moderating—underwriting results.
• Growth is expected to slow, but profitability should remain stable. However, the potential for loss-cost shocks remains.
• Industry return on equity (ROE) is projected at 10% for both 2025 and 2026, with investment gains offsetting weaker underwriting margins.
• Premium growth is forecasted at 5.5% in 2025, slowing to 4% in 2026—still considered strong by historical standards.

Read the full report here.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list.