CGU has reported first nine months after-tax property/casualty insurance operating profit, before net realized capital gains of $208.5 million, of $103.2 million, reflecting an increase from $83.4 million during the same period in 1999. Property/casualty premiums written for the first nine months of 2000 were $3.4 billion, up from $3.2 billion the first nine months of last year.
CGU has reported first nine months after-tax property/casualty insurance operating profit, before net realized capital gains of $208.5 million, of $103.2 million, reflecting an increase from $83.4 million during the same period in 1999. Property/casualty premiums written for the first nine months of 2000 were $3.4 billion, up from $3.2 billion the first nine months of last year.
The improvement in financial performance was attributable to higher earned premiums and favorable catastrophe loss experience. At the same time, performance was largely offset by higher non-catastrophe losses and additions to loss reserves.
CGU's combined ratio for the first nine months of 2000 was 106.7%, a modest improvement over 106.8% in the same period in 1999.
Policyholders' property/casualty surplus as of September 2000 was $3.7 billion, compared to $3.6 billion for year-end 1999.