The U.S. property and casualty insurance industry swung back into the black in the first quarter, reporting $8.9 billion in net income compared to a loss of $1.3 billion for the same period last year despite a lingering recession and soft market.
The $10.2 billion improvement in the industry's bottom line was the highlight of the latest quarterly report issued by the Insurance Services Office Inc. (www.iso.com) and the Property Casualty Insurers Association of America (www.pciaa.net).
The turnaround boosted the industry's annualized rate of return to 6.7 percent from negative-1.2 percent for the first quarter of 2009.
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.
