Third quarter net income was $10.1 billion in third-quarter 2016.
Private U.S. property/casualty insurers suffered a $1.7 billion net underwriting loss in the first nine months of 2016—compared to a $7.3 billion net underwriting gain in nine-months 2015—and experienced a drop in net income after taxes to $31.8 billion from $44.1 billion a year earlier, according to ISO, a Verisk Analytics (NASDAQ:VRSK) business, and the Property Casualty Insurers Association of America (PCI).
Insurers’ combined ratio deteriorated to 99.5 percent in nine-months 2016 from 96.9 percent in nine-months 2015, and net written premium growth slowed to 2.8 percent in nine-months 2016
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