NU Online News Service, Sept. 28, 1:47 p.m. EDT

Property and casualty insurance industry first-half net income fell 59.3 percent, reflecting weakness in the economy and losses in investment income, according to an industry report released today.

The Jersey City, N.J.-based Insurance Services Office and the Property Casualty Insurers Association of America released the second-quarter report on industry results that says net income for the first six months of the year dropped from $14.1 billion in the first half of 2008 to $5.8 billion for the first six months of this year.

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.