P/C Industry Profits Rebound

Profitability in the property/casualty insurance industry rebounded during the first half of 2012, propelled chiefly by a sharp drop in catastrophe losses and a marked acceleration in premium growth, according to I.I.I. president Dr. Robert Hartwig. In his commentary on the industry’s 2012 first half results, Dr. Hartwig notes that catastrophe losses plunged by 43 percent ($10.6 billion) to $13.8 billion in the first half of this year from $24.4 billion in the first half of 2011.