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You are here: Home / News / Property/Casualty Insurance Industry’s Net Income Doubles in First-Quarter

Property/Casualty Insurance Industry’s Net Income Doubles in First-Quarter

July 13, 2018 By CollisionWeek Editor

With lower catastrophe losses, insurers saw net income increase to $17.1 billion.

Private U.S. property/casualty insurers saw their net income after taxes more than double to $17.1 billion in first-quarter 2018 from $7.9 billion in first-quarter 2017, helped by lower catastrophe losses and increased reserve releases, according to ISO, a Verisk (Nasdaq:VRSK) business, and the Property Casualty Insurers Association of America (PCI).

Property Casualty Net Income Q1 2018

Losses and loss adjustment expenses from catastrophes dropped to $5.0 billion in first-quarter 2018 from $7.7 billion a year earlier. Favorable reserve development totaled $7.4 billion, compared with $5.5 billion a year earlier. Overall, insurers saw their net

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Filed Under: News Tagged With: ISO, Profitability, Property Casualty Insurance, Property Casualty Insurers Association of America

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