Search
 

Insurers' net income falls 12.4%, net gains on underwriting shrink in 2014

However, the industry's profitability, premium growth and underwriting ratios all preformed better than the long-term historical average, and policyholders' surplus reached record levels.

By Melissa Hillebrand | Updated on May 28, 2015
However, the industry's profitability, premium growth and underwriting ratios all preformed better than the long-term historical average, and policyholders' surplus reached record levels. (Photo: Shutterstock)

Private U.S. P&C insurers’ net income after taxes fell 12.4% to $55.5 billion in 2014, dropping from its 2013 total of $63.4 billion, according to ISO, a Verisk Analytics Business, and the Property Casualty Insurers Association of America (PCI).

As stated in their “Property/Casualty Insurance Results 2014” report, insurers’ overall net profitability, as measured by their rate of return on average policyholders’ surplus also dropped to 8.4% from 10.2%.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

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.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.