The Wall Street Journal today reports the same level of insurance industry profit in 2005 as was reported in the excellent New York Times article linked in my October 15, 2006 post, which was $43 Billion in 2005. That was the year of Hurricane Katrina and other catastrophic weather-related claims (CatClaims), of course. The figure includes the entire Property/Casualty Insurance industry and it further includes all returns on investments not just the collection of premium money.
The Wall Street Journal today also reports a range of $55-$60 Billion in profit estimated for 2006 by the insurance industry, which it reports would be a record. The New York Times article of Saturday, October 15, 2006 reported an estimate of $60 Billion in profit in 2006 in the insurance industry.
Many links to the Wall Street Journal on the web are subscription-required and whether today's article requires a subscription is not clear since it is not located online this date, but you can try for yourself at Online Wall Street Journal site (subscription may be required). The article is by Liam Pleven, "Tracking the Numbers/Street Sleuth, Insurers Bask in Sun and Profits As Hurricane Season Nears End," Wall Street Journal page C3, column 1 (Thursday, October 19, 2006).
REMINDER: THE CONTENTS OF THIS BLOG DO NOT MAKE AN ATTORNEY-CLIENT RELATIONSHIP. ALWAYS CONSULT THE CASES AND LAWS OF EACH PARTICULAR JURISDICTION AND AN ATTORNEY IN AND FAMILIAR WITH THE PARTICULAR JURISDICTION AND ITS LAWS, WHENEVER YOU TRY TO ADDRESS OR RESOLVE ANY LEGAL QUESTION.
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