While the entire year's results are not in yet, the insurance industry should show significant financial gains for 2010 and its performance will be the best it has experienced since the beginning of the financial crisis, said an industry observer.
“The industry is on the mend,” declared Robert Hartwig, president of the Insurance Information Institute, during a Webinar sponsored by Munich Re titled “2010 Natural Catastrophe Year In Review.”
Mr. Hartwig said in comparison to all of 2009, the industry's 2010 third-quarter results are close to all of the prior years. While the industry is not back to where it was prior to the economic downturn in 2007, it is performing significantly better than the worst of the downturn in 2008 when P&C income came in at slightly more than $3 billion.
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