U.S. P&C First-Half Net Income Plummets 67 Percent on Cat Losses

Things are heating up in the P&C industry.  If you’ve been thinking about starting a new independent insurance agency or wonder how to be an independent insurance agent, it may be the time to check into the MIAA insurance agency group.  MIAA can also help existing independent insurance agencies through their carrier partnerships as carriers increase production requirements and lower incentives.  What do you think the financial results below mean for the P&C insurance industry? Reference Article:  |  By Phil Gusman, PropertyCasualty360.com

Catastrophes caused significant 2011 first-half underwriting losses for U.S. property and casualty insurers, driving the industry’s net income for that time period down 67 percent to $6.9 billion relative to the year before, according to an A.M. Best Special Report. A.M. Best adds in its report, “U.S. Property/Casualty—6-Months Underwriting Trends,” that the industry is likely to remain under pressure for the remainder of 2011 as underwriting results are expected to remain weak, commercial lines are expected to remain competitive and investment yields are expected to remain low. Entire Article http://www.propertycasualty360.com/2011/09/30/us-pc-first-half-net-income-plummets-67-percent-on?t=commercial-business