Not the merriest of Mays, but also not the gloomiest. (property/casualty insurer stocks after the Los Angeles, CA riots) (Month in Insurance Stocks) (Industry Overview)

National Underwriter Life & Health-Financial Services Edition, June, 1992 by Meakin, Thomas K.

Property and casualty insurance company stocks did not drop as much as expected after the Apr-May 1992 Los Angeles, CA, riots. Over $750 million will be paid to policyholders as a result of damage done during the riots, and the share prices of major California insurers such as State Farm, Farmers and FAIR, are expected to drop. Surprisingly, property and casualty insurance company stocks were ahead of other insurance sector stocks by 2.23% in May.

In the aftermath of the riots in Los Angeles, it was certainly not the merriest of Mays for the Property and Casualty industry or the Reinsurers. But, surprisingly, most holders of P&C stocks got off lightly.

A very major percentage of more than $750 million in insured losses is due to rub off on California's biggest...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.