Despite a slew of catastrophe losses, property-casualty insurerslast year posted their first underwriting profit in 26 years,totaling $5 billion, according to a study by the Insurance ServicesOffice (ISO) released today.
Jersey City-based ISO said those results came in the face ofslowing premium growth, and that insurers' net income after taxesand overall profitability rose for the third consecutive year assurplus climbed to a record high.
The information was contained in the company's Insurance IssuesSeries study Insurer Financial Results: 2004.
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