NU Online News Service, April 9, 2:22 p.m. EDT

U.S. property-casualty insurers in the 2008 fourth quarter chalked up a $1.69 billion loss compared with a $12.9 billion profit the year before, Insurance Services Office and the Property Casualty Insurers Association of America (PCI) reported.

The companies in their statement preferred to focus on full year results, which remained profitable a 96.2 percent drop in the industry's 2008 after tax net income, which fell to $2.4 billion.

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