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P/C Insurers Post Strong Results for First Half of 2010

Private U.S. property/casualty insurers' net income after taxes rose to $16.5 billion in first-half 2010 from $6 billion in first-half 2009, with insurers' overall profitability...
September 21, 2010

Private U.S. property/casualty insurers' net income after taxes rose to $16.5 billion in first-half 2010 from $6 billion in first-half 2009, with insurers' overall profitability as measured by their annualized rate of return on average policyholders' surplus increasing to 6.3 percent from 2.6 percent. Reflecting insurers' $16.5 billion in net income and other developments in first-half 2010, policyholders' surplus - insurers' net worth measured according to Statutory Accounting Principles - rose $19.1 billion, or 3.7 percent, to $530.5 billion at June 30, 2010, from $511.4 billion at year-end 2009. Insurers' net investment gains - the sum of net investment income and realized capital gains (or losses) on investments - grew $13.3 billion to $25.8 billion in first-half 2010 from $12.5 billion in first-half 2009, powering the increases in the insurance industry's net income, overall rate of return, and policyholders' surplus.

"Property/casualty insurers' positive results for first-half 2010 are yet another testament to the conservative investment strategies and superior risk management that enabled insurers to emerge from the financial crisis and great recession essentially unscathed," said David Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI).

Click here to read ISO: P/C Insurers Post Strong Results (I.I.I. 9/16/2010)

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