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Earnings for U.S. property/casualty insurers were down on catastrophe losses in the 2010 second quarter, but their capital positions remained solid, according to a report issued by Moody's Investors Service.

Earnings for U.S. property and casualty insurers were down on catastrophe losses in the 2010 second quarter, but their capital positions remained solid, according to a report issued by Moody's Investors Service.

In 2009, the property and casualty insurance industry recovered from a devastating global financial crisis that had drained 12 percent from policyholder surplus and nearly erased the net income recorded the year before.

In 2009, the property and casualty insurance industry recovered from a devastating global financial crisis that had drained 12 percent from policyholder surplus and nearly erased the net income recorded the year before.

The U.S. property and casualty industry was a lot more profitable last year despite a shrinking pie of insurable exposures and a persistently soft commercial market...

The U.S. property and casualty industry showed signs of economic recovery in 2009, but profitability remained substantially off from what it experienced just prior to the economic meltdown, a report said.

Steven N. Weisbart, senior vice president and chief economist at Insurance Information Institute, explains in an interview with National Underwriter why most p&c insurers came through the financial crisis in relatively good shape.

Ten large property and casualty insurers asked leadership of the Senate Banking Committee to exempt the industry from federal oversight in financial services reform legislation that will be marked up.