U.S. P&C insurers saw net income, overall profitability fall in 2014

This income dip was mostly because of deteriorating underwriting results.

American P&C insurers saw a $5.1 billion drop in their net income over nine months of last year compared to the same period in 2013.

Their overall profitability, which is measured by their annualized rate of return on average policyholders’ surplus, also slipped 1.8 percent in the same period.

This income dip was mostly because of deteriorating underwriting results. Net gains on underwriting fell to $4.3 over nine months  in 2014 from $10.3 billion in the same nine months of 2013.

Take a look at the Insurance Information Institute’s report for full details.

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