Our global economic recovery will happen in fits and starts. Pore through the news for promising signs and you'll find them. The property and casualty insurance industry, for example, just offered good news.
You probably haven't read your copy of Insurance Journal cover to cover yet, so let me just tell you that in the first half of 2010, property and casualty insurers' net income more than doubled over year-ago levels, rising from $6 billion to $16.5 billion. Using standard practices in the industry, the companies' net worth advanced 3.7% to $530.5 billion since the beginning of the year, while their net investment gains more than doubled from the first half of last year. According to the Property Casualty Insurers Association of America, U.S. property and casualty insurance sales increased for the first time in 13 quarters, due partly to companies raising rates.
That has meant good news for some of the biggest players in the property and casualty insurance business, making them worth taking a look at as possible investments.
Good insurers like to play it safe. You might do the same with these companies that can make retirees rich.
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Longtime Fool contributor Selena Maranjian owns shares of Berkshire Hathaway. Berkshire Hathaway and Markel are Motley Fool Inside Value picks. Berkshire Hathaway is a Motley Fool Stock Advisor recommendation. The Fool owns shares of Berkshire Hathaway, Markel, and Teva Pharmaceutical. Try any of our Foolish newsletter services free for 30 days. The Motley Fool is Fools writing for Fools.