What a difference a year makes. After the U.S. P&C industry took it on the chin in Q1 of 2009 to the tune of a $0.9 billion dollar loss, insurers rebounded nicely in 2010. According to a report released to by A.M. Best Co. Inc., P&C insurers benefited from the continued recovery in the financial markets to post an after-tax net profit of $11.5 billion in Q1 2010.

The improvement, the report says, was largely driven by the industry reporting $2.9 billion in realized capital gains in Q1 2010, compared to $7.9 billion in realized capital losses during Q1 2009.

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