The insurance industry lost money on underwriting in 2012 and its rate of return of 5.9 percent fell far short of its long term average of 8.9 percent over the last 60 years.
But profitability is improving, according to ISO—a Verisk Analytics company—and the Property Casualty Insurers Association of America.
Overall industry net income in 2012 jumped more than 72 percent to $33.5 billion, compared to 2011.
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