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P&C Net Income Surges

The Insurance Services Office, Inc. (ISO) and the National Association of Independent Insurers (NAII) report a surge in the P&C industry's net income after taxes,...
December 30, 2003

The Insurance Services Office, Inc. (ISO) and the National Association of Independent Insurers (NAII) report a surge in the P&C industry's net income after taxes, but caution that slowing premium growth may hamper future progress. Improved underwriting and investment results are credited for the U.S. property/casualty industry's net income after taxes rising to $21.1 billion in the first nine months of 2003 from $5 billion through the first nine months of 2002. Reflecting the industry's income and unrealized capital gains on investments, its surplus, or statutory net worth, increased 12.1 percent to $319.9 billion at September 30 from $285.4 billion at year-end 2002. More

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