US P/C industry pulls in small profit - ISO
The US property/casualty insurance industry's net income after taxes through nine-months 2008 amounted to $4.1bn, down 91.8% from $50bn through nine-months 2007, a joint report from ISO Property Services, the Property Casualty Industry (PCI) and the Insurance Information Institute said.
The insurance industry's overall profitability as measured by its annualized rate of return on average policyholders' surplus (or statutory net worth) dropped to 1.1 % for nine-months 2008 from 13.1%
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