Last year's devastating hurricane season hit insurers with a $4.2 billion underwriting loss, according to Weiss Ratings Inc.
The loss compares to the record profit of $6.4 billion reported by the industry in 2004, the first such profit in 28 years.
Solid performance in the equity market and rising interest rates helped compensate for the underwriting loss, Weiss said.
Continue Reading for Free
Register and gain access to:
- 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
Already have an account? Sign In Now
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.
