Property And Casualty Insurance Industry Investments

Property/casualty insurers' net income falls 67% in first half

The industry’s combined ratio deteriorated more than 9 percentage points to 109.6%, according to the report. Oldwick, N.J.-based Best noted that the industry sustained $27 billion in catastrophe losses during the first half of this year, which added 12.8 percentage points to the combined ratio.

Investment income edged up about 4% to $28.7 billion during the first six months of the year compared with the same period last year. Policyholder surplus stayed virtually flat at $556.2 billion during the first six months of this year compared with $554.3 billion at the end of 2010.

Because of a number of factors, “the industry’s performance measures are likely to remain under pressure for the remainder of 2011,” said Best. These include “continued expectations for weak underwriting results due to elevated catastrophe-related losses through the third quarter,” “challenging market conditions” in commercial lines, a sluggish economy and relatively low investment yields, as well as volatility in the investment markets, said Best.

Summit Business Media » Blog Archive » SNL Financial to Acquire ...

Setting a new standard for SNL’s unrivaled insurance industry information and comprehensive product offering

Charlottesville, VA. September 28, 2011  –  SNL Financial LC and Summit Business Media today announce SNL’s acquisition of Highline Data , Summit’s insurance information services unit. The acquisition bolsters SNL’s position as the leading U.S. insurance financial information provider across the property & casualty, health and life insurance sectors.  With more than twenty years as an industry leader, Highline Data brings a wealth of history and proven experience to SNL Insurance’s existing offerings. 

As part of the acquisition, Highline Data’s clients will now have the ability to access SNL’s robust financial institutions database with detailed profiles on more than 20,000 U.S. financial institutions, including banks & thrifts, broker/dealers, investment companies and mortgage lenders.  At the same time, Summit will retain long-term access to the same insurance industry financial data and analysis previously available through Highline Data for use in its own products and services.  The sale of Highline Data will have no impact on Summit’s Marketing Data Group, including Judy Diamond, Agent Media and Kirschners. 

“SNL has earned the trust and respect of the insurance community through our commitment to accuracy, depth of coverage, client support, and ever-evolving enhancements to our products, and we are excited to be partnering with a team who shares our passion for these values,” commented Jon Wright, Director of SNL Insurance, a division of SNL.  “Highline Data is well-known for its industry expertise, timeliness and depth of analysis, as well as its longstanding track record of service to the industry. The marriage of SNL and Highline Data will provide all of our clients with the new standard for data, features, and functionality in the insurance information industry.

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