Surplus sets new record as stock market recovers from downturn. Private U.S. property/casualty insurers’ net income after taxes and underwriting gains remained strong despite small declines compared with the prior year, according to Verisk (NASDAQ:VRSK) and the American Property Casualty Insurance Association (APCIA). Net income after taxes declined to $32.8 billion for the first half […]
P/C Insurers Report Strong First-Quarter Underwriting Results
Net written premiums down for first time since Great Recession. Private U.S. property/casualty insurers’ profitability as measured by their annualized rate of return on average policyholders’ surplus increased to 9.4 percent, the best first-quarter result since 10.8 percent in 2015, according to Verisk (NASDAQ:VRSK), the data analytics provider, and the American Property Casualty Insurance Association […]
Automotive OEM and Aftermarket Associations Relieved Over Suspension of Mexico Tariff Threat
Auto industry and insurers already concerned about impact of tariffs on parts prices were concerned Mexico tariffs would have had enormous impact on costs and ultimately premiums. Several automotive industry association expressed relief that the U.S. and Mexico reached an agreement last week to remove the threat of U.S. tariffs on products from Mexico. The […]
U.S. Property-Casualty Insurers Report 66% Increase in Net Income in 2018
Results driven by growth in premiums and decline in catastrophe losses. Private U.S. property/casualty insurers saw their net income after taxes rise to $60 billion in 2018 from $36.1 billion in 2017—a 66.3 percent increase—helped by double-digit premium growth and a significant decline in catastrophe losses, according to Verisk (NASDAQ:VRSK) and the American Property Casualty […]