More Bad News for the Insurance Industry!

I would imagine that we’ll continue to see reports like this as earnings come out.

clipped from www.marketwatch.com Allstate reports $923 million quarterly net loss Insurer realizes $1.3 billion in pre-tax investment losses By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) — Allstate Corp. reported a $923 million quarterly net loss late Wednesday after the property and casualty insurer paid big hurricane-related claims and realized more than $1 billion of pre-tax investment losses from the financial crisis.