Property/Casualty Profits Highest since 2007

Private U.S. property and casualty insurers' net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012 and a 10.3% overall rate of return, its highest level since the 12.7% for 2007, according to a report by the Insurance Service Office and Property and Casualty Insurers of America.Insurers' overall profitability was measured as their rate of return on average policyholders' surplus, climbing to 10.3% from 6.1%.  Insurers' pretax operating income, the sum of net gains or losses on underwriting, net investment income and miscellaneous other income, ros...