A.M. Best Projects $59.2 B Net Income for P/C Insurers in 2007

Strong underwriting results and favorable investment returns are expected to generate 2007 net income of $59.2 billion for the U.S. property/casualty industry, A.M. Best said in a special report released Tuesday.Despite continued price softening across most commercial and personal lines, the industry should record an underwriting profit of $19.3 billion for 2007, given sustained underwriting discipline, the ratings house said in a written release. While soft market conditions and increased competition will persist in 2008, A.M. Best Co. forecasts continued profitability fueled by solid investm...