Private U.S. p&c insurers see surge in net income due to investment income

Private U.S. property and casualty insurers’ net income surged to $16.5 billion in 2010 H1 from $6 billion in 2009 H1, reports Insurance Services Office Limited (ISO).Insurers’ net investment profit grew to $25.8 billion in 2010 H1 from $12.5 billion in 2009 H1.Underwriting results offset the investment gains though, with the $2.1 billion underwriting loss reported in 2009 H1 growing to an underwriting loss of $5.1 billion in 2010 H1.The combined ratio for the group of insurers crept up a point, from 100.8% in 2009 H1 to 101.7% in 2010 H1.