Figure 8-4:Trends in U.S.
natural disasters, insurance industry profitability, and solvency, 1969-1999:
(a) Sensitivity of property/casualty insurance sector net financial results to
investment income and underwriting gain/loss. Upper bars indicate investment income;
lower bars indicate net result of core business (premium revenues vs. claims paid).
Curve is the net result. (b) Annual number of insolvencies and natural disaster
losses (Mills et al., 2001).