Surplus Down Two Years Straight: ISO
The surplus level of the property-casualty industry not only fell 8.7 percent in 2001, but the drop gave the industry its first back-to-back surplus decline since 1984, according to a recently-published report.
The result, which followed a 5.1 percent surplus dip in 2000, is among many detailed in "Insurer Financial Results: 2001," published by the Insurance Services Office in Jersey City, N.J.
Besides providing analysis of several key components of the industrys first net loss after taxesamounting to $7.9 billionISO reported that the $27.7 billion surplus decline in 2001 was the largest since 1974, when surplus dropped 23.9 percent.
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