US P/C industry's net income after taxes almost halves in Q1 - ISO/PCI
The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2bn in first-quarter 2008 from $16.2bn in first-quarter 2007 and a cyclical peak of $17.7 bn in first-quarter 2005, figure from ISO and the Property Casualty Insurers Association of America said.
Reflecting the declines in net income, the property/casualty industry’s annualized rate of return on average policyholders’ surplus (statutory net worth) dropped to 6.4 % in first-quarter 2008 from 13
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