NU Online News Service, May 16, 2:43 p.m. EDT

U.S. property and casualty insurers saw 2012 first-quarter net income soar by 69 percent as lower catastrophe losses helped drop the industry's combined ratio to 96, compared to 102 a year ago, according to a Moody's Investors Service analysis.

In a report titled "U.S. P&C Insurers' 1Q12 Earnings Improve on Lower Cats; Pricing Momentum Continues," Moody's says the industry enjoyed a relatively quiet quarter with respect to catastrophes, although March tornadoes caused about $1.2 billion in estimated insured losses, hurting some regional carriers.

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.

Commercial Lines
E&S/Specialty
Personal Lines