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 2015—a 26.6 percent decline—and their annualized quarterly yield on investments drop to 2.9 percent—the lowest this century—from 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