Navigation Links
Highline Data Analysis Shows Year-over-Year P&C Industry Net Income Down 67.7%, Life Industry Net Unrealized Capital Losses Totaled $51.7 billion in 2008
Date:3/5/2009

CAMBRIDGE, Mass., March 5 /PRNewswire/ -- The nation's top 100 property and casualty insurers closed 2008 with net income levels not seen in more than seven years, while the top 100 life insurers suffered unprecedented unrealized capital losses, according to Highline Data.

The Highline Data 2008 Top 100 Performance Monitor revealed a 67.7 percent year-over-year drop in net income in 2008 across the industry's top property and casualty insurers, from $48.8 billion to $15.8 billion. The last time top property and casualty insurers reported annual net income drops of this magnitude was in 2001, when losses from the September 11 attacks and multiple hurricanes occurred.

The Performance Monitor also revealed a stunning decline in unrealized capital gains/(losses) among the top 100 life insurers, from a gain in 2007 of $1.4 billion to a loss of $51.7 billion as of December 31, 2008. This precipitous year-over-year decline in the life industry was driven by sharp drops in stock values. Capital paid-in, however, held the surplus decline to 4.7%.

The 2008 Top 100 Performance Monitor was made possible by Highline Data's unprecedented 48-hour delivery of key financial data from the annual statutory financial statements of all of the top 100 property and casualty insurers, ranked by net premiums written, and of 98 of the top 100 life insurers, ranked by total net admitted assets (two companies received filing extensions). Highline Data was once again the first company to deliver annual insurance industry statutory financial data to the market with this year's expedited delivery of 2008 data.

Additional results of the Performance Monitor reveal other troubling signs for the insurance industry going into 2009, including declines in surplus of 11.3% for Property and Casualty insurers and 4.7% for Life insurers. Property and Casualty companies also experienced an increase in the Combined Ratio from 94% in 2007 to 102% in 2008. Life companies reported a Return on Equity of -0.3% in 2008, which was a decline from 12.8% in 2007.

For media inquiries, please call (201) 526-1252. For all other inquires, please call (877) 299-9424, or visit us online at www.highlinedata.com

         HIGHLINE DATA 2008 TOP 100 PERFORMANCE MONITOR KEY FINDINGS

    Property & Casualty Insurance         Life Insurance
               Industry                      Industry

                  Year-over-Year                        Year-over-Year
                      Change                               Change
    Net Income        -67.7%     General Account Assets       3.2%
    Assets             -4.9%     Separate Account Assets    -28.1%
    Surplus           -11.3%     Surplus                     -4.7%
    Net Premiums
     Earned            -0.3%     Net Premiums                 2.4%
    Net Losses         13.4%     Net Investment Income       -4.3%
    LAE                -1.5%     Net Gain from Operations   -74.9%
    Combined Ratio    102.3%*    Net Unrealized
                                  Capital Losses   -$51.7 billion*

    *Refers to the 2008 figure, not a year-over-year percent change.


About Summit Business Media

Highline Data is a division of Summit Business Media. Summit Business Media strives to provide the highest-quality information for those in the insurance, financial, and professional services markets. Our information includes industry news, analysis, senior management perspectives, editorial opinion, market and consumer trends, regulatory and compliance, financial performance data, and how-to. Information is delivered via weekly, biweekly, and monthly print magazines; via electronic newsletters, daily blogs, and up-to-the-minute news websites; through live events, including trade shows, conferences, and classroom and web seminars; via book and electronic reference materials; and via financial, employee benefits, and marketing databases. Summit Business Media employs more than 400 people in 17 offices throughout the United States.


'/>"/>
SOURCE Highline Data
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. ForteBio Launches New Biosensor for Kinetic Analysis and Screening of Human IgG Antibodies
2. Paragon Benefits, Inc. Selects North Star Health for Data Analysis and Cost Management Reporting
3. Frost & Sullivan Lauds Aesku.Diagnostics For Providing an Overall Analysis Platform For a Wide Range of Autoimmune Complications
4. QSAI & SGS-CSTC to Begin Joint Food Analysis Services in China
5. New analysis shows liver cancer incidence has tripled since 1970s, but survival rates improving
6. Webinar Alert: Coverity Announces Verification and Validation of Medical Device Software with Static Analysis - A Review of FDA Guidance and Best Practices
7. EMBL GeneCore purchases Genomatixs next generation sequencing data analysis solution
8. Diagnosoft(R) Introduces Its Third MRI Analysis Innovation
9. Umbilical cord protein analysis detects early onset infection
10. Providence Service Corporation Provides The Center on Budget and Policy Priorities Preliminary Analysis of Potential Medicaid Assistance for States in the House Economic Recovery Package
11. MedPredict Publishes Two New Reports Providing Expert Analysis of Malignant Hematology Drug Development
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... ... May 27, 2016 , ... Each year ... medicine. Allison Outerbridge is this year’s Life University winner of a ... the university’s Student Leadership Awards ceremony. , Outerbridge is approaching her last quarter ...
(Date:5/26/2016)... ... 26, 2016 , ... Cabot Corporation, Pfizer, and 3M are ... court documents and SEC filings. A jury has returned a verdict of ... Corporation, Case No. BC588866, Los Angeles County, California. The jury awarded $22.8 million ...
(Date:5/26/2016)... ... 2016 , ... The Woodlands at John Knox Village , Florida’s first ... for living and healing, celebrated its grand opening, today. The Woodlands at John Knox ... by Empowered Staff. , “This is an incredibly fulfilling time for John Knox Village ...
(Date:5/26/2016)... ... May 26, 2016 , ... ... the Foundation Fighting Blindness, Long Island Chapter on June 4, 2016, 1:30-3:30 pm ... Dr. Maisel, founder of Retina Group of New York , is a ...
(Date:5/26/2016)... ... May 26, 2016 , ... Eating Recovery Center, Washington ... opening a brand new child and adolescent residential treatment center on June 1. ... even more specialized eating disorder treatment and access to life-saving care. , To ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... 2016 ARANZ Medical  Ltd a ... sector, has been named the Coretex Hi-Tech Emerging Company of ... Dr Bruce Davey , CEO of ARANZ Medical ... really good to be recognised for the work we are ... used in 35 countries around the world from Sub-Saharan Africa ...
(Date:5/24/2016)... -- The innovator of COMBO ... s first dual therapy stent, introduces catheters for lower ... a global company specializing in the provision of life-changing ... to treat peripheral artery disease. The JADE™ and Scoreflex™ ... lower limb and arteriovenous (AV) fistula intervention. ...
(Date:5/24/2016)... May 24, 2016 Dutch surgeons have launched ... around the world and treat patients on a global scale. Medical ... , Asia and the US have already ... messaging and networking in a totally secure environment. Education  ... war zone working together with a surgeon at Harvard to treat ...
Breaking Medicine Technology: