Insurer Results Still Lag Behind Some Soft Market Years
NU Online News Service, Sept. 29, 2003, 2:41 p.m. EDT?
But while the $14.5 billion first-half net income total is more than three times the $4.4 billion reported last year, the 2003 result still fell below mid-year income totals for two soft market years, Jersey City-based ISO and the Des Plaines, Ill.-based NAII said.
In particular, the industry's net income for first-half 2003 was 2.5 percent below its income for first-half 1999 and 22.5 percent below its income in first-half 1997--the industry's best year of the past decade.
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