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Article: In Brief.(NEWS)
- Article from:
- Business Insurance
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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P/C insurerprofits drop
U.S. property/casualty insurers' net income for the first half of 2009 fell 59.3% to $5.8 billion compared with the same period in 2008, according to a report from the Insurance Services Office Inc. and the Property Casualty Insurers Assn. of America. The survey found net written premiums dropped 4.2% to $212.8 billion in the first half of 2009, while net earned premiums declined 2.9% to $6.3 billion. Policyholders' surplus rose 1.2% to $463 billion as of June 30. The industry's combined ratio improved to 100.9% in the first half of this year from 102% during the same period last year.
Bill calls for federalinsurance office
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