The six-month profit increase earned by property/casualty insurers reported last week by A.M. Best Co. is a step in the right direction, but conditions in the industry aren't as rosy as such improved financials might lead many to think, according to one long-time industry expert.
"Although increased premiums and a reduced combined ratio resulted in net income rising 82 percent to $4.7 billion in the first half of this year, the large percentage increase is misleading because profits were so small in 2001, said Rodger S. Lawson, Ph.D., president of the Alliance of American Insurers.
"Last yea...
Comments