Stamford, Conn. — Buffeted by ill-winds on all sides, the reported statutory surplus for the for U.S. property/casualty insurers at the end of the third quarter is projected to decline according to estimates from Stamford, Conn.-based global professional services firm Towers Perrin.
The decline is expected to be as much as $42 billion, or 8%, from the beginning of the year, and the projected industry combined ratio for the third quarter is 116.6%, with an underwriting loss of $18.5 billion.
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