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U.S. P&C Q1 Net Income Soars Across Most Lines

U.S. property and casualty insurers saw 2012 first-quarter net income soar by 69 percent as lower catastrophe losses helped drop the industry’s combined ratio to 96, compared to 102 a year ago, according to a Moody’s Investors Service analysis
May 22, 2012

U.S. property and casualty insurers saw 2012 first-quarter net income soar by 69 percent as lower catastrophe losses helped drop the industry’s combined ratio to 96, compared to 102 a year ago, according to a Moody’s Investors Service analysis. Moody’s says the industry enjoyed a relatively quiet quarter with respect to catastrophes, although March tornadoes caused about $1.2 billion in estimated insured losses, hurting some regional carriers. It said net written premiums up four percent for Moody’s rated companies compared to 2011’s first quarter. Moody’s says commercial-lines insurers are reporting mid-to-high single-digit rate increases, with property and workers’ compensation showing the steepest hikes, with excess and surplus lines growing.

Read more on p&c income increases: Moody’s: U.S. P&C Soars (National Underwriter 5/16/12)

See the increasing income report: MarketScout: P/C Rates Up 3% in April

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