U.S. industry notches strong first quarter, but catastrophes hamper underwriting performance, according to Verisk and APCIA
Private property/casualty insurers in the United States saw their net income after taxes increase in the first quarter of 2021 from a year earlier, while their combined ratio – a key measure of underwriting profitability – worsened, according to a new report from Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property Casualty Insurance Association (APCIA).
Insurers’ net income after taxes increased to $20 billion in the first quarter of 2021, from $17.9 billion in the first quarter of 2020. Growth was
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