2002 Was Good, Bad & Ugly

This edition marks the end of another difficult year for both sellers and buyers of insurance, although the news wasn't all bad.

For insurers, the good news is that net written premiums rose 13.6 percent through three quarters, while catastrophe claims and the net underwriting loss fell dramatically, dropping the combined ratio from 114.4 to 104.9. Net income hit $9.3 billion, compared to a $2.6 billion loss at this time last year.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.