National Underwriter's annual list of the Top 100 P&C insurance groups provides a snapshot of the industry's volatility of late.
A year after catastrophes wreaked havoc on most insurance groups' financial numbers, the overall combined ratio of the Top 100 in 2012 improved about 6.2 points to about 104.8—still an unprofitable number, but better than the previous year.
Had it not been for Superstorm Sandy, which pounded the Northeast in late October 2012 and caused most of the industry's $35 billion in catastrophe losses, the effects of price and exposure improvements would have been even more evident.
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