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Despite Rising Profits, P/C Industry Net Worth Still Declining

While strong underwriting results propelled the property/casualty insurance industry to profitability in 2002, insurers have not fully recovered from anemic premium growth of the 1990s...
September 3, 2003

While strong underwriting results propelled the property/casualty insurance industry to profitability in 2002, insurers have not fully recovered from anemic premium growth of the 1990s and September 11 losses. That's according to a new study by the Insurance Services Office (ISO). Despite posting the largest premium increase since 1986, the industry's surplus last year fell $4.4 billion, or 1.5 percent, to $285.2 billion from $289.6 billion in the prior year. Premiums grew more than 14 percent - a 16-year high - and growth in losses slowed to less than 3 percent - a five-year low. More

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