Business Insurance
January 3,2007
SECTION:Insurance
LENGTH: 779 words
HEADLINE:Insurers Profiting From Slow Cat Year
SUMMARY:
JERSEY CITY, N.J.-Thanks to a much lighter year for catastrophes, U.S. property/casualty insurers are back on solid financial ground.
Nine-month 2006 results announced last week by the Insurance Services Office Inc., the Insurance Information Institute and the Property Casualty Insurers Assn.
Third-quarter results also improved sharply, as insurers posted net underwriting income of $9.3 billion in 2006 vs. an underwriting loss of $15.2 billion during the third quarter last year, when Hurricanes Katrina and Rita struck.
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