There is growing concern that slowing premium growth could undermine gains made during the first three quarters of 2003, according to a joint report released by the Insurance Services Office Inc. and the National Association of Independent Insurers.
The latest industry figures from Jersey City, N.J.-based ISO and NAII, headquartered in Des Plaines, Ill., shows that the U.S. property-casualty industry enjoyed a robust recovery during the first three quarters of 2003, but now there is a growing concern that slowing premium growth could undermine further progress in 2004.
The p-c industry‘s after-tax net income, according to the two groups, came in at $21.1 billion for 2003‘s first nine months, representing a 320 percent improvement from the $5 billion in net profit reported over the same period in 2002.
