Underwriting losses mar fire and allied results
Article Abstract:
Insurance companies suffered underwriting losses in their fire and allied insurance lines for a seventh consecutive year in 1995. In allied insurance, record levels of pure losses and loss adjustment costs led to a $535.8 million underwriting loss, up by 61% from $332.8 million in 1994. In fire insurance, companies posted a $273.8 million underwriting loss, down from a $408.9 million loss in 1994. Through September 1996, fire and allied insurers have sustained another $6.4 billion in catastrophic losses.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Inland marine profits from strong underwriting
Article Abstract:
Insurance companies that provide inland marine insurance benefited from underwriting gains, lower pure losses, declining commission and brokerage costs and an increase in net premiums in 1995. The insurers posted an underwriting gain of $332.6 million and a 9.7% drop in pure losses to $2.39 billion. Net premiums rose to $4.98 billion, a 4.6% increase. American Bankers Insurance Group Inc. was the top underwriter for the year, and California was the state with the most premiums.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Hard work
Article Abstract:
The workers' compensation sector of the property/casualty insurance market showed gains in the underwriting business in 1996, according to the A.M. Best Co.'s yearly analysis of the market. Despite the success, the market sector continues to suffer as competition forces insurance companies to cut the prices of their policies. The workers' compensation sector's slide is expected to continue as premium rates decline and claims costs savings drop.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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