Report: P/C sector's net income was $31.2B in 1st 3 quarters of 2012

01/1/2013 | Insurance Networking News

Property/casualty insurers' net income was $31.2 billion for the first nine months of 2012, up from $12.3 billion during the same period in 2011, according to a report from A.M. Best. The industry's combined ratio for the first three quarters of 2012 was 100.1, compared with 108.5 in the same period in 2011, the report said. While losses from Hurricane Sandy are expected to harm insurers' financial results for the fourth quarter and for 2012 as a whole, the industry has adequate capital, which "should result in Sandy having only a modest impact next quarter," the report says.

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