The number of insurance companies that failed in 2004 declined 48 percent to 13, compared to 25 insurer insolvencies in 2003, according to Weiss Ratings. Three life and health insurers and 10 property and casualty insurers failed last year, compared to four and 21, respectively, in 2003.

The 13 failed insurers in 2004 were National Health, Grand Prairie, Texas; MIIX Insurance Co., Lawrenceville, N.J.; Capitol Life, Golden, Colo; Interboro Mutual, Mineola, N.Y.; Life and Health Ins., Philadelphia; Statewide Insurance, Waukegan, Ill.; Cascade National, Seattle; American Superior, Plantation, Fla.; Cumberland Casualty, Tampa, Fla.; New America, N. Lauderdale, Fla.; State Capital, Lawrenceville, N.J.; Pinnacle Casualty, Montgomery, Ala.; and Carrol County Mutual, Westminster, Md.

"Insurers have been reporting robust profits for several quarters now, which reflects both an improved security market and economic growth, resulting in fewer company failures compared to the numbers reported several years ago," said Melissa Gannon, vice president of Weiss.