Property Casualty Insurers Association of America Property Casualty Insurers Association of America
  • Staff Contact: Jeffrey Brewer     
    • Related Information Related Information Printer-Friendly Printer-Friendly PDF Export PDF Export

  • Jeffrey Brewer
    847-553-3763
    jeffrey.brewer@pciaa.net
  • Giuseppe Barone/Colleen Finley MWW Group (for ISO)
    201-507-9500
  • Loretta Worters for I.I.I.
    (212) 346-5500

  • FOR RELEASE ON RECEIPT
  • July 14, 2016
  • Property/Casualty Insurers’ Net Income After Taxes Falls 26.6 Percent in First-Quarter 2016
  • JERSEY CITY, N.J., — Private U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015a 26.6 percent declineand their annualized quarterly yield on investments drop to 2.9 percentthe lowest this centuryfrom 3.1 percent a year earlier, according to ISO, a Verisk Analytics (Nasdaq:VRSK) business, and the Property Casualty Insurers Association of America (PCI).

    Insurers’ combined ratio deteriorated to 97.5 percent in first-quarter 2016 from 95.7 percent in first-quarter 2015, and net written premium growth slowed to 3.2 percent in first-quarter 2016 from 3.8 percent a year earlier. Net investment income dropped to $10.9 billion in first-quarter 2016 from $11.7 billion a year earlier, and realized capital gains decreased to $2.3 billion from $4.7 billion, resulting in $13.2 billion in net investment gains for first-quarter 2016, down $3.2 billion from a year earlier.

    Direct insured property losses from catastrophes striking the United States totaled $4.8 billion in first-quarter 2016, up from $3.6 billion a year earlier and above the $3.1 billion average for first-quarter direct catastrophe losses for the past ten years.  

    To view the full report from ISO and PCI, click here.





    About ISO 
    Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a Verisk Analytics (Nasdaq:VRSK) business. For more information, please visit
    www.verisk.com/iso.

    About PCI

  • PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $195 billion in annual premium, 35 percent of the nation's property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 28 percent of the homeowners market, 33 percent of the commercial property and liability market and 35 percent of the private workers compensation market.
  • ###
  • Related Information