P&C's Capital Gains Up 181% Over Last Year

The nation's property and casualty insurers reported capital gains of $1.1 billion in the first quarter of 2003, representing a $725 million, or 181 percent, increase over the $400 million recorded during the same period last year, according to Weiss Ratings, Inc. Companies within the Berkshire-Hathaway group accounted for 62.8 percent of the industry's total first-quarter capital gains, earning $706.9 million. Insurers reporting the largest year-over-year increases in capital gains include: General Reinsurance Corp. (part of the Berkshire-Hathaway group) Government Employees Ins. Co. (part ...