The property/casualty insurance ind...

The property/casualty insurance industry recorded almost a 13% increase in total admitted assets, primarily reflective of improved stock market performance and the resulting greater appreciation of customary stock portfolios. However, the continued low-interest rate environment during the year crowd a 0.5 percentage point decline in gros investment yield.

The increase in total admitted assets nearly doubled last year's increase, primarily because of better equity market performance compared with 2002 while the decline in gros yield followed a period of declining to stagnant flows for the overall industry.

The greatest in quantity prominent shift in distribution of assets was