underwriting results
P/C insurance profit declines amid record surplusPosted by RJ and Makay on Jun 22, 2011 |
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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.
