NU Online News Service, June 22, 12:04 p.m. EST

Though property and casualty industry surplus is at records levels as of the end of the first quarter, insurers took a $4.5 billion underwriting loss, and recent developments point to worsening results in the second quarter.

Underwriting losses outpaced a 3.5 percent increase to $108.6 billion in net written premiums, compared to the same period a year ago, according to a report of industry financial results distributed by ISO, the Insurance Information Institute, and the Property Casualty Insurers Association of America.

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