P&C Insurers Bottom Line Improves
Growth in premium and drop in losses results in an improved combined ratio of 95.8 percent for nine-months 2013 from 100.7 percent for nine-months 2012.
INN Breaking News, December 23, 2013
The first nine months of 2013 were positive for private U.S. property/casualty insurers. Their net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus increasing to 9.5 percent from 6.5 percent, according to ISO and the Property Casualty Insurers Association of America. Insurers’ pretax operating income grew to $45.7 billion from $31.4 billion in 2012.
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