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A.M. Best Reports P&C Performance Improves

The property/casualty industry reported a 9.6 percent gain in surplus for the first half of 2003, according to figures just released by A.M. Best. robust...
September 30, 2003

The property/casualty industry reported a 9.6 percent gain in surplus for the first half of 2003, according to figures just released by A.M. Best. robust growth in premium and much better underwriting results accounted for the gain. Net written premiums rose about 12.7 percent over the comparable period in 2002, while the combined ratio improved by about 5.2 points to 99.9 from 105.1 in 2002. A.M. Best reports this is the first time in the past five years that the industry reported a combined ratio below 100 at midyear. Net investment income increased approximately 4.3 percent over the prior-year period to $18.9 billion in 2003, from $18.1 billion in 2002.

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