Hurricanes and wildfires drive underwriting losses. Net income showed improvement in fourth quarter
Private U.S. property/casualty insurers saw investment gains push the industry’s surplus to a new all-time-high value of $752.5 billion in 2017, a $51.7 billion increase from 2016, and catastrophe losses suppressed the industry’s net income after taxes to $36.1 billion in 2017, a 15.8 percent decline from a year earlier, according to ISO, a Verisk (NASDAQ:VRSK) business, and the Property Casualty Insurers Association of America (PCI).
The industry’s net investment income increased to $49.0 billion in 2017 from $46.6 billion a year earlier, and net written premium
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