While U.S. property-casualty insurers enjoyed sizable profits in 2005 despite record catastrophe losses, signs of a soft market raise concerns that a repeat performance may not be in the offing.

The p-c industry 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 released last week.

The insurance industry's net income after taxes rose by $4.5 billion to $43 billion in 2005 from $38.5 billion in 2004.

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