Profits are once again on the rise at most property/casualty insurers, but a lack of significant premium growth combined with higher loss expenses has kept growth and income levels somewhat in check.

According to a joint release from the Insurance Services Office (ISO) and the Property Casualty Insurers Association of America (PCI), P/C insurers’ income after taxes rose from $29.4 billion in the first half of 2006 to $32.6 billion in the first half of 2007. That’s a growth percentage of more than 10 percent. The report also stated that the net worth of insurers — or surplus — has increased from the record highs attained at the end of 2006, rising from $486 billion to $512.8 billion.

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