Property/Casualty Insurers see first quarter profit drops from increasing underwriting losses

Property/Casualty Insurers, a private American company, reported that after taxes, their net income fell to $7.8 billion within 2011’s first quarter from last year’s first-quarter profits which were at $8.9 billion. Moreover, there was a drop from 6.8 percent to 5.6 percent in that insurer’s average policyholder surplus annualized rate of return. As a result of the net income of the insurer of $7.8 billion after taxes, the surplus of policyholders did rise by 1.4 percent to $7.8 billion, to hit a record by March 31 of $564.7 billion. This…

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