American International Group wasn’t the only casualty of this year’s financial market collapse, prompted by the meltdown in subprime mortgages and their related securities. Indeed, no insurance company was left unscathed.

With claims soaring and investment returns taking a beating, insurers on the whole reported some of their worst results in years. Through the first three quarters, the property-casualty industry saw net income drop 91.8 percent–from $49.6 billion in 2007 to just $4.1 billion this year.

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