Best: U.S. P/C Industry Notes First Underwriting Profit Since ’78
Tuesday, April 26th, 2005 Liability Property Risk ManagementThe U.S. property and casualty industry reported a second year of improvements to their operating results, and announced the first underwriting profit since 1978 with a combined ration of 97.9. With a strong equity market behind it, surplus grew at a rate of 13.5 percent with a return on equity at 10.8 percent. Although this was good news for the industry, it is not expected to continue into 2005 as premium growth for the reinsurance and commercial lines markets were down in 2004.
External References & Further Reading
http://www.insurancejournal.com/news/national/2005/04/25/54239.htm
