Continued rate increases and lower losses led the U.S. Property & Casualty industry to its second consecutive first-quarter underwriting profit in 2013, according to A.M. Best.

Flooding across Central Europe in May and June tops the list of costliest natural insured-loss events in a relatively mild first six months of 2013, according to Aon Benfields Impact Forecasting.

Continued rate increases and lower losses led the U.S. property and casualty industry to its second consecutive first-quarter underwriting profit in 2013, a new A.M. Best report says.

In a mixed month for insurance-industry employment, P&C carries added 1,100 jobs in May while agents and brokers shed jobs for the sixth straight month, albeit at a slower rate.

Property and casualty insurers shed 1,400 jobs in April compared to March, an unusual occurrence that bucks the recent trend of employment gains for April, according to Insurance Information Institute President Robert Hartwig.

Changing demographics and socio-economic realities in the U.S. mean personal-lines insurers must find ways to cater to growing segments, such as the seniors and hispanics, while also serving other groups whose habits have changed in the wake of the recession.

Commercial P&C rates increased 5 percent year-over-year in May for the third consecutive month, with property, general liability and workers compensation showing the steepest hikes. Personal lines rate increases accelerated to 4 percent with both homeowners and auto policyholders paying more.

Commercial P&C rates increased 5 percent year-over-year in May for the third consecutive month, with property, general liability and workers compensation showing the steepest hikes. Personal lines rate increases accelerated to 4 percent with both homeowners and auto policyholders paying more.