Financial Reports Show Texas Insurers Profitable in 2007
Texas / South Central News • March 14, 2008
In 2007, Texas insurers recorded one of their most profitable years of the decade, prompting some consumer advocates to call for tougher state regulation on homeowner rates.
Financial reports ...
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Subject: Profits: where does the money really go!
Posted On: March 17, 2008, 3:43 pm CDT
Posted By: Kent
Comment:
Saying anything good about the insurance industry simply isn't good for any consumer group or politican - regardless of the facts. I've made the same challenge to consumer group advocates about starting their own insurance company - their best reply was to change the subject.
Mike, unfortunatley most oil companies share the same profit problems as insurance carriers. The majority of profits are paid as stock dividends to shareholders - the majority of which are pension funds. Pension funds hold huge blocks of stock from oil and insurance companies. Of course, it wouldn't be good for a consumer group to say the pension funds are making too much money.
I'm a Farmers agent. I've received indications that FIG may request another rate decrease this fall if they can get through another profitable spring - hail and tornado time! However, will the TDI limit their rate decrease for inland counties because they were requesting substantial rate increases for the coastal areas?
Subject: Profits: where does the money really go!
Mike, unfortunatley most oil companies share the same profit problems as insurance carriers. The majority of profits are paid as stock dividends to shareholders - the majority of which are pension funds. Pension funds hold huge blocks of stock from oil and insurance companies. Of course, it wouldn't be good for a consumer group to say the pension funds are making too much money.
I'm a Farmers agent. I've received indications that FIG may request another rate decrease this fall if they can get through another profitable spring - hail and tornado time! However, will the TDI limit their rate decrease for inland counties because they were requesting substantial rate increases for the coastal areas?