P-C Insurers Easily Weather Storm Losses: Weiss
NU Online News Service, Dec. 8, 3:22 p.m. EST?Despite nearly $21 billion of hurricane-related losses expected in their third- and fourth-quarter results, U.S. property and casualty insurers are still well-capitalized enough to recover without much difficulty, according to a ratings firm.[@@]
Weiss Ratings observed in its new report that the p-c industry posted "impressive performance numbers" during the second quarter of 2004, with a $9.2 billion net underwriting gain, representing a 560 percent jump over the $2 billion underwriting loss reported for the same time in 2003.
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