Property-casualty insurers' 2007 fourth-quarter after-tax consolidated net income fell 36.2 percent to $12.5 billion, down from the $19.6 billion in 2006, three insurance organizations reported.
The industry's net income for fourth-quarter 2007 consisted of $16 billion in pretax operating income and $0.8 billion in realized capital gains on investments, less $4.3 billion in federal and foreign income taxes.
Full-year 2007 after-tax net income dropped 5.8 percent to $61.9 billion from $65.8 billion in 2006, due to slippage in underwriting results.
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