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P/C Industry Still Profitable Despite Recent Losses

The good news is that, despite significant deterioration in underwriting and investment results, the P/C industry achieved a profit of $4.1 billion through Jan.-Sept. 2008. The bad news? A

By Eric Gilkey | Updated on January 07, 2009

A profitability report on the P/C industry’s first nine months of 2008 offered a little bit of sugar — and a whole lot of medicine.

The good news is that, despite significant deterioration in underwriting and investment results, the P/C industry achieved a profit of $4.1 billion through Jan.-Sept. 2008. The bad news? A year-to-year comparison for the same time period shows that this figure is almost 92 percent less than what the industry realized in 2007, when it hit a high mark of $50 billion in net income.

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