ISO
P/C insurers rebound in fourth quarter of 2011Posted by RJ and Makay on Apr 18, 2012 |
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Private U.S. property/casualty insurers’ net income fell to $19.1 billion in 2011, down from $35.2 billion in 2010, according to Insurance Services Office Inc. (ISO) and the Property Casualty Insurers Association of America (PCI). Despite the deteriorating results, the industry ended the year with strong forth-quarter performance. Insurers’ overall profitability, as measured by the rate of return on average policyholders’ surplus, fell to 3.5% in 2011 from 6.6% in 2010.
Private U.S. property/casualty insurers’ net income after taxes declined to $7.8 billion in the first quarter of 2011 from $8.9 billion in Q1 2010, with insurers’ annualized rate of return on average policyholders’ surplus decreasing to 5.6% from 6.8%, according to ISO. Reflecting insurers’ $7.8 billion in net income after taxes, policyholders’ surplus rose $7.8 billion, or 1.4%, to a record $564.7 billion at March 31, 2011, from $556.9 at December 31, 2010.
Private U. S property/casualty insurers’ net income (after taxes) rose to $34.7 billion in 2010, compared to $28.7 billion in 2009, with insurers’ rate of return on average policyholders’ surplus increasing from 5.9 percent to 6.5 percent.
