The U.S. P&C industry in 2011 posted its worst combined ratio since 2001—and net income dropped more than 45 percent, according to a joint analysis conducted by three industry groups. But a separate report points to more profitable results in Q1 2012.
In 2011, the industry's net income was $19.15 billion, compared to $35.2 billion in 2010, according to an analysis by ISO, the Property Casualty Insurers Association of America (PCI) and the Insurance Information Institute (I.I.I.).
Net-underwriting losses more than tripled to $36.5 billion from $10.5 billion, driving a 108.2 combined ratio.
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