P/C Insurers‘ Profits Double in 2003

Wednesday, March 10th, 2004 Liability Property

Property and casualty insurers earned $22.9 billion during the first nine months of 2003, representing a $12.1 billion, or 112 percent, increase over the $10.8 billion profit reported during the same period in 2002, according to Weiss Ratings Inc (www.weissratings.com). "Property and casualty insurers flourished due to higher premiums and increased investment gains over the past year," commented Melissa Gannon, vice president of Weiss Ratings Inc. "However, with policyholders beginning to see better renewal rates, the tide may be changing, and the true strength of the industry will be determined by its underwriting capabilities."

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http://www.insurancejournal.com/news/national/2004/03/09/39964.htm

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