Recovery on track, but net is still down
Article Abstract:
Property and casualty insurers posted 4th qtr 1994 net income of $5.7 billion, which showed the industry had begun to recover from the $19.8 billion losses sustained from 1st qtr 1994 through 3rd qtr 1994. However, net income for 4th qtr 1994 was 7% lower than the net income garnered in 4th qtr 1993. Another indication the industry performance is improving is that the combined ratio fell from 105.4 in 4th qtr 1993 to 104.3 in 4th qtr 1994. Additionally, net premiums written in 4th qtr 1993 improved 3.4% in 4th qtr 1994. Other statistics on the industry's performance are given.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Corporate changes: mergers and acquisitions set record
Article Abstract:
Mergers and acquisitions in the property/casualty insurance industry achieved record numbers in 1995. Companies increased profits and produced efficiencies which enabled these firms to increase market share rapidly. The pricing of insurance products was difficult and there was not an abundance of earnings growth in traditional manners which also increased the appeal of mergers and acquisitions.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Personal lines drove growth in 1995 premiums
Article Abstract:
Personal lines accounted for the majority of insurance premium growth in 1995. Direct premiums growth was 3% in 1995 compared to 3.4% and 4.8% in 1994 and 1993, respectively. Lower premium growth in 1995 was primarily a result of competition on rates. Property and casualty insurers are consolidating their operations and cutting costs in response to stagnant market growth.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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