Alarming PC Income Slide Continues
Saturday, July 15th, 2000 Auto Liability Property Risk Management Workers' CompensationFulfilling predictions made at the end of 1999, the U.S. property/casualty industry’s net income after taxes declined 35.4 percent in the first quarter of 2000, according to data from Insurance Services Office and the National Association of Independent Insurers. This year’s first-quarter earnings of $5.8 billion were down significantly from the $9 billion posted in the same period last year. For 1999, overall net income figures were down $8.6 billion, or 28 percent, from the previous year, despite a 1.9 percent increase in written premiums. So far this year, the industry has experienced a 3.2 percent growth in premiums, rising to $74.2 billion from $71.9 billion in the same period a year ago.
External References & Further Reading
http://www.claimsmag.com/Issues/July00/alarming.asp
