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You are here: Home / News / Property & Casualty Insurers Report 27.5% Drop in Net Income During First Nine Months of 2020

Property & Casualty Insurers Report 27.5% Drop in Net Income During First Nine Months of 2020

February 9, 2021 By CollisionWeek Editor

Pandemic and record number of catastrophes in the United States impact insurance industry.

In the first nine months of 2020, the private U.S. property and casualty (P&C) insurance industry dealt with the effects of the COVID-19 pandemic as well an historic catastrophe season, according to a report from Verisk (NASDAQ:VRSK), a leading global data analytics provider, and the American Property Casualty Insurance Association (APCIA).

PCI Q3 2020 Insurance Profitability

The industry’s net income after taxes dropped 27.5 percent to $35.1 billion in the first nine months of 2020 and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier. The deterioration in

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Filed Under: News Tagged With: American Property Casualty Insurance Association, Profitability, Property Casualty Insurance, Verisk

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