P/C INSURANCE INDUSTRY INCOME ANALYSIS, 2004-2008 (1)

($ billions)

  2004 2005 2006 2007 2008
Net written premiums $424.1 $425.5 $443.5 $440.6 $434.5
     Percent change 4.9% 0.3% 4.2% -0.6% -1.4%
Earned premiums $413.8 $417.6 $435.5 $438.9 $438.1
Losses incurred 247.8 256.5 231.3 244.7 286.2
Loss adjustment expenses incurred 53.1 55.1 52.6 52.3 51.7
Other underwriting expenses 106.8 109.8 117.1 120.1 119.6
Policyholder dividends 1.7 1.9 3.4 2.4 2.0
Underwriting gain/loss 4.3 -5.6 31.1 19.3 -21.3
Investment income 40.0 49.7 52.3 55.1 51.2
Miscellaneous income/loss -0.3 1.0 1.2 -1.0 -0.1
Operating income/loss 44.0 45.1 84.6 73.4 29.8
Realized capital gains/losses 9.1 9.7 3.5 8.9 -19.8
Incurred federal income taxes/credit 14.6 10.7 22.4 19.8 7.7
Net income after taxes 38.5 44.2 65.8 62.5 2.3

(1) Data in this chart may not agree with similar data shown elsewhere due to different sources.

Source: ISO.