Tax Policy:

Financial Cycles in the Property/Casualty Industry

GGD-86-56FS: Published: Apr 9, 1986. Publicly Released: Apr 9, 1986.

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In response to a congressional request, GAO provided information about past financial cycles in the property/casualty insurance industry.

To identify past cyclicity, GAO plotted the insurance industry's underwriting gains or losses over time. GAO expressed underwriting gains or losses in: (1) a ratio of the claims, expenses, and policyholder dividends paid to the premium income; and (2) the difference between the amount of premium income and the amount of claims, expenses, and policyholder dividends.

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