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OLDWICK, N.J.--(BUSINESS WIRE)--The U.S. property/casualty insurance segment posted record-high investment income of $89 billion in 2024, a notable 20% year-over-year increase bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special Report, “Investment Income Reached Record Heights for P/C Insurers in 2024,” notes that the annual increase was driven by returns on bonds and cash and short-term investments. After over a decade of persistently low interest rates, the Federal Reserve raised rates by 425 basis points between 2022 and 2024, causing bond prices...