U.S. property-casualty insurers increased earnings 11.7 percent and added to their capital base in 2005, despite record catastrophe losses, according to data from the Insurance Services Office and the Property Casualty Insurers Association of America.
The insurance industry's net income after taxes rose $4.5 billion, to $43 billion in 2005 from $38.5 billion in 2004.
Reflecting the industry's income, its consolidated surplus increased 9.2 percent, or $35.8 billion, to $427.1 billion at year-end 2005. This compares to the $391.3 billion at year-end 2004.
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