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Insurers Post Record First-Half Profits However, losses from quartet of hurricanes could wipe out all the gains

The property-casualty insurance industry’s net after-tax income rose to a record high of $23.5 billion in the first half of this year, although those profits might have already been wiped out by third-quarter catastrophe losses, one industry expert warns.The industry’s first-half income is the most of any six-month period, both before and after adjusting for inflation, since the Insurance Services Office began keeping quarterly records in 1986.

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