Well ahead of superstorm Sandy’s wrath, private U.S. property/casualty insurers' net income after taxes grew to $27 billion in the first nine-months of 2012 from $8.4 billion in the same nine-months of 2011, with insurers' overall profitability, measured by their annualized rate of return on average policyholders' surplus, climbing to 6.3 percent from 2 percent. This is further validation that the property/casualty industry is prepared to deal with Sandy-related losses.
As reported by to ISO, a Verisk Analytics company, and the Property Casualty Insurers Association of America (PCI), insurers' pretax operating income—the sum of net gains or losses on underwriting, net investment income, and miscellaneous other income—rose to $30.6 billion in nine-months 2012 from $3.7 billion in nine-months 2011.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access