Report: P/C sector's after-tax income was $27B through Q3

12/30/2012 | PropertyCasualty360 · Insurance Networking News

Property/casualty insurers' after-tax income from January through September was $27 billion, up from $8.4 billion for the same period in 2011, according to a report from PCI, the Insurance Services Office and the Insurance Information Institute. Net underwriting losses declined to $6.7 billion in the first three quarters of 2012, with the combined ratio improving to 100.9, according to the report. The results "provide insurers with the financial wherewithal necessary to absorb shock losses such as those inflicted by Hurricane Sandy last October and continue to fulfill their commitments to policyholders," PCI's Robert Gordon said in a statement.

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PropertyCasualty360 · Insurance Networking News

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