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 investment returns taking a beating, insurers on the whole reported some of their worst results in years. Through the first half, the property-casualty industry saw after-tax income drop 57.6 percent–from $32.7 billion in 2007 to $13.9 billion in 2008.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.