P/C Insurers’ underwriting results, profitability slip in first-half 2007

The U.S. property/casualty insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ surplus (or statutory net worth) slipped to 13.1 percent in first-half 2007 from 13.5 percent in first-half 2006 as underwriting results deteriorated. Net gains on underwriting fell 4.1 percent to $14.4 billion in first-half 2007 from $15 billion in first-half 2006.