Kansas, Missouri Insurers Grew Profits in 2004

Forty-four property and casualty insurance companies based in Missouri reported total earnings of $224 million in 2004, compared with a loss of $423.5 million in 2003, according to Weiss Ratings Inc.

In Kansas, 22 property and casualty insurers reported earnings of $75.9 million, down 35 percent from $116.1 million in 2003, said Stephanie Eakins, senior financial analyst for Weiss Ratings, based in Jupiter, Fla.

Nationally, 2,534 property and casualty insurers reported total earnings of $41.3 billion in 2004, up 28 percent from $32.3 billion in 2003, Weiss Ratings said in a written release.

“Property and casualty insurers continue to post impressive results,” Melissa Gannon, vice president of Weiss Ratings, said in the release. “The ability to withstand such a horrific hurricane season is an indicator of the industry’s long-term financial strength.”