P/C insurers' capital gains in the first quarter of this year boosted the industry's net profit for that period to $11.5 billion, compared with a loss of $900 million during the same period last year, according to a report from A.M. Best. Although insurers' net premiums dropped by 1.2%, marking 10 straight quarters of declining rates, the industry posted an improved combined ratio of 101.1%, the report added.

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