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Net underwriting losses jumped to $20.9 billion in nine-months 2017 from $1.7 billion a year earlier. (Photo: Shutterstock)

Private U.S. property & casualty insurers’ net income after taxes dropped to $22.4 billion in nine-months 2017 from $32.1 billion in nine-months 2016 and its overall profitability declined to 4.2% from 6.3%, according to a report from ISO, a Verisk business, and the Property Casualty Insurers Association of America (PCI). 

Related: PCI urges insurers to steer the industry’s future

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