Property-casualty insurers as a whole will report 12 percent growth in their 2005 bottom line to $43.5 billion despite the biggest catastrophe losses in the market's history, a group of industry organizations revealed last week.

Preliminary 2005 results provided by the Property Casualty Insurers Association of America and the Insurance Services Office Inc. also indicate the industry will post a modest underwriting loss, compared with the previous year–when the first underwriting gain was reported in 24 years.

But even with that underwriting loss, the industry increased its net income by $5 billion compared with the $38.5 billion gained in 2004.

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

© 2024 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.