Financial Services Industry
Industry: Email Alert RSS FeedReserve Charges Mar Qtr. Beyond WTC. (Late Breaking News).(property-casualty insurers)(Statistical Data Included)(Brief Article)
National Underwriter Property & Casualty-Risk & Benefits Management, December, 2001 by Sclafane, Susanne
As property-casualty insurers continue to assess losses from the World Trade Center mega-catastrophe, and start to quantify the impact of the collapse of Enron on commercial lines results, many are still digging through the damage of a prolonged soft market. For the first time since National Underwriter began compiling quarterly results for individual insurers, we present results excluding the impact of a catastrophe--the terrorist attacks of Sept.
11. The adjusted results attempt to answer the question of whether improved underwriting and net income would have shown up by year-end 2001, absent the attacks, as experts had predicted. For a number of companies, such as ACE Ltd., Berkshire-Hathaway, The Chubb Corp., CNA Financial Corp., The Hartford Financial...
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