The property and casualty insurance industry's consolidated net income through the first three quarters of 2009 improved dramatically–a 272 percent turnaround compared to the same period last year–although association leaders warn there remain plenty of reasons for concern.
Net income for the period improved by close to $12 billion, rising to $16.2 billion, according to a report on the industry's consolidated nine-month results released by the Jersey City, N.J.-based Insurance Services Office Inc., and the Property Casualty Insurers Association of America, headquartered in Des Plaines, Ill.
The industry's rate-of-return on average policyholders' surplus also improved nearly fourfold–from 1.2 percent for the first nine months in 2008 to 4.5 percent this year.
Continue Reading for Free
Register and gain access to:
- 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
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
