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A.M. Best Reports Better P&C Results

The property/casualty industry reported vastly improved operating results for both the fourth quarter and full year 2003 when compared with the same periods of 2002,...
April 14, 2004

The property/casualty industry reported vastly improved operating results for both the fourth quarter and full year 2003 when compared with the same periods of 2002, according to a study issued by A.M. Best Company. Additionally, the industry reported a sorely needed jolt to the bottom line, as total surplus rose sharply by an estimated 22.2 percent during 2003, propelled by strong underwriting results and a noticeable upturn on Wall Street.

Driving the industry's strong financial performance are significantly improved underwriting results, as underwriting losses for the full year 2003 of approximately $4.8 billion represented a near 85 percent reduction from 2002.  More

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