The U.S. property/casualty insurance industry’s financial results for 2010 represented a mixed bag, with some good results and some that are of concern, according to a leading rating organization.
A.M. Best Co. reported that property/casualty insurers’ policyholders surplus increased nine percent last year, which was the industry’s largest-ever recorded level.
In other good news, net premiums written increased for the first time in three years. NPW had declined for three consecutive years, which included its largest single-year decline in 2009.
Admitted assets, direct premiums written and net leverage also improved, based on the reported year-end 2010 results, A.M. Best said.
However, the industry’s after-dividend combined ratio reflected an increase of 2.2 over 2009 year-end results, generating 102.1 and posting unprofitable underwriting results recorded during 2010.
That combined ratio performance accounts for the “ongoing caution” as the industry moves ahead in 2011, according to the rating organization.
The observations are from a new A.M. Best study analyzing the financial results of the U.S. property/casualty industry for 2010.
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