The industry’s record surplus is due in part to a $14 billion increase in unrealized gains. (Photo: iStock)

Despite a marked decline in net income during the first two quarters of 2017, American property and casualty industry surplus reached a record $703.4 billion, according to new reporting from A.M. Best.

In its most recent installment of “A.M. Best First Look,” a survey designed to provide early financial insights on the P&C industry, researchers concluded that insurers recorded a total net underwriting loss of $5.1 billion for the first six months of 2017.

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Elana Ashanti Jefferson

Executive Editor Elana Ashanti Jefferson is a veteran journalist and communications professional. She can be reached by sending email to [email protected]

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