NU Online News Service, June 23, 3:30 p.m. EDT
First-quarter U.S. property and casualty insurers' net income improved by more than $10 billion over the same period last year despite the challenges of a soft market, according to industry figures released today.
The Jersey City, N.J.-based Insurance Services Office Inc., in collaboration with the Property Casualty Insurers Association of America, based in Des Plaines, Ill., released its quarterly financial report on the insurance industry today.
The report said p&c insurers' net income after tax rose to $8.9 billion in the first quarter from negative $1.3 billion for the same period last year.
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