Industry results show effects of COVID-19 according to Verisk and the APCIA.
Net income for the private U.S. property/casualty insurance industry dropped 26% in the first half of 2020, as the effects of COVID-19 began to hurt insurer underwriting results and investment gains, according to Verisk (NASDAQ:VRSK), a leading data analytics provider, and the American Property Casualty Insurance Association (APCIA).
Net income after taxes fell to $24.3 billion in first-half 2020 from $32.8 billion in first-half 2019. Contributing to that drop was $1.4 billion in realized capital losses on investment in first-half 2020, a swing from $4.3 billion in realized
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