Garrison Property & Casualty Insurance Company

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Garrison Property & Casualty Insurance Company – JERSEY CITY, N.J., October 10, 2019 – (Nasdaq:VRSK), boosted by insurer income and unrealized capital gains, U.S. insurers’ surplus assets reached a new record of $802.2 billion in the first half of 2019, according to a leading data analytics provider, Property America. Insurance Association (APCIA).

The surplus rose to $60.1 billion in 2019 as the stock market recovered from a sharp decline in late 2018. The previous record, set on September 30, 2018, was $781.6 billion.

Garrison Property & Casualty Insurance Company

Industry net income after tax and underwriting benefits remained strong despite a slight decline from the previous year. After-tax net income fell to $32.8 billion in the first half of 2019 from $34.0 billion a year earlier, and net underwriting profit fell to $5.4 billion from $6.0 billion in the first half of 2018.

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Net written premium growth slowed to 1.0% in the first half of 2019, after growing 13.2% last year; Both were the result of a one-time increase in net premiums in 2018 as a result of several changes to their reinsurance arrangements. Net premium increased by 3.8%.

The overall ratio of insurers declined to 97.3% in the first half of 2019 from 96.2% in the previous year. Net loss and adjustment expenses (LLAE) from catastrophes fell to $13.7 billion in the first half of 2019 from $14.7 billion last year.

“In today’s world, insurers must continually improve their operations to be successful,” said ISO President Neil Spector. “We’re still early in the 2019 disaster season, and it’s impossible to tell when and where the next disaster will strike. Now, the industry is credibly exposed to both natural and man-made disasters. The strategic challenge for insurers is clearly to underwrite, price, and manage those risks.”

“The property/casualty industry delivered stable but exceptional financial results in the first half of 2019,” said Robert Gordon, senior vice president of policy, research and international affairs. “ຄ່າໃຊ້ຈ່າຍທີ່ເກີດຂື້ນແລະການສູນເສຍການປັບຕົວເພີ່ມຂຶ້ນ 5.7%, ໃນຂະນະທີ່ການເຕີບໂຕຂອງຄ່ານິຍົມສຸດທິໄດ້ຕົກລົງຈາກການເພີ່ມຂຶ້ນຂອງ 13.2% ໃນເຄິ່ງທໍາອິດຂອງປີ 2018 ເປັນການຂະຫຍາຍຕົວພຽງແຕ່ 1% ໃນເຄິ່ງທໍາອິດຂອງປີ 2019. ອັດຕາສ່ວນລວມເພີ່ມຂຶ້ນເປັນ 97.3%, ແລະລາຍຮັບສຸດທິຫຼັງພາສີຕົວຈິງຫຼຸດລົງ 3.5%. ການຫຼຸດລົງຂອງລາຍໄດ້ສຸດທິແມ່ນໄດ້ຮັບການຊົດເຊີຍໂດຍການເຫນັງຕີງຂອງຜົນກໍາໄລຂອງທຶນທີ່ບໍ່ເປັນຈິງ, ຈາກການສູນເສຍ 8.0 ຕື້ໂດລາເປັນ 41.6 ຕື້ໂດລາ, ຍ້ອນວ່າຕະຫຼາດຫຼັກຊັບຟື້ນຕົວຈາກການສູນເສຍໃນທ້າຍປີ 2018. ຜູ້ປະກັນໄພໄດ້ເຂົ້າໄປໃນໄຕມາດທີສາມທີ່ເຝົ້າລະວັງລະດູພະຍຸເຮີລິເຄນແລະໄຟປ່າແຕ່ມີຕໍາແຫນ່ງທີ່ດີທີ່ຈະສະຫນອງຄວາມປອດໄພທາງດ້ານການເງິນທີ່ຈໍາເປັນສໍາລັບຜູ້ຖືນະໂຍບາຍຂອງພວກເຂົາ.”

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Insurers’ net income fell to $14.9 billion in the second quarter of 2019 from $16.9 billion in the second quarter of 2018, and their gross margin fell to 98.9% in the second quarter of 2019, down from 97.7% last year.

Net written premiums increased $4.9 billion, or 3.1%, to $160.3 billion in the second quarter of 2019, from $155.5 billion in the second quarter of 2018.

(Nasdaq:VRSK) provides predictive analytics and decision-making solutions to customers in the insurance, energy and specialty markets and financial services industries. More than 70 percent of the FORTUNE 100 rely on advanced technology companies to manage risk, make better decisions and improve operational efficiency. The company’s analytics solutions address insurance and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geospatial risk, as well as environmental, social, and governance (ESG) issues. Celebrating its 50th anniversary, the organization continues to make the world better, safer and stronger and promotes an inclusive and diverse culture.

Team members think they are. With over 100 offices in nearly 35 countries, consistently certified as a great place to work. For more information: LinkedIn, Twitter, Facebook and YouTube.

Insurance, Banking, Retirement & Investment Services

Representing approximately 60 percent of the US property casualty insurance industry, the Property Casualty Insurance Association of America (APCIA) promotes and protects the functioning of a competitive private insurance market for the benefit of consumers and insurers. APCIA represents a broad cross-section of home, auto, and business insurance national trade associations. APCIA members represent organizations of all sizes, structures and regions, protecting families, communities and businesses in the United States and around the world. For more information, visit www.apci.org.

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Reserve And Guard

As your local source for insurance services and solutions, Garrison Insurance prides itself on providing personalized and responsive support to all of our customers. Our experienced agents will take the time to review your policy with you. This will ensure that you understand all the coverage you are offered. All insurance reviews are free. Even if you don’t buy your policy with us. We will show you different quotes from different companies. Then you have the option to choose the policy that works best for you.

At Garrison Insurance, the ultimate goal is to build lasting relationships with each client for years to come. The experienced staff here can equip you with customized solutions for your auto, home, life and business insurance needs and tailor each policy to suit your individual needs while offering competitive rates to our valued customers.

The Garrison team is committed to providing customers with the highest quality insurance plans with some of the lowest rates available in all of California. Whether you’re buying auto, home, health, life or business insurance, this site can help you get the best coverage available at the lowest rates.

Although Garrison Insurance’s primary service area is located in Chula Vista, Garrison Insurance provides unmatched service and competitive pricing to customers in the San Diego area and throughout California!

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