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Press release content from Globe Newswire. The AP news staff was not involved in its creation. Property & Casualty Insurers Report 27.5% Drop in Net Income During First Nine Months of 2020 Verisk Analytics, Inc.February 8, 2021 GMT JERSEY CITY, N.J., Feb. 08, 2021 (GLOBE NEWSWIRE) In the first nine months of 2020, the private U.S. property and casualty (P&C) insurance industry dealt with the effects of the COVID-19 pandemic as well an historic catastrophe season, according to a report from Verisk (Nasdaq:VRSK), a leading global data analytics provider, and the American Property Casualty Insurance Association (APCIA). The industry’s net income after taxes dropped 27.5 percent to $35.1 billion in the first nine months of 2020 and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier. The deterioration in underwriting results was due, in part, to a major increase in the losses and loss adjustment expenses from catastrophes, which more than doubled to

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