Market suffers 7% decline in underwriting results

Although majority of their investments are in the form of fixed interest securities, Australian insurance groups have returned to investing in equities and property over the past few months

Market suffers 7% decline in underwriting results

Australia's non-life insurers reported a 44% leap in profits after tax in 2004 compared with the previous year, according to the annual report of the Insurance Council of Australia (ICA). The ICA monitors the trading performance of the 105 companies in the market.