Consumer MarketsThird Quarter 2013 Highlights:

  • Combined ratio, excluding catastrophes and PYD, improved 2.2 points to 91.1 from 93.3 in third quarter 2012
  • Written premiums rose 3% compared with third quarter 2012
  • Policies in force grew sequentially for the third consecutive quarter
  • AARP licensing agreement extended through January 1, 2023
($ in millions)         Three Months Ended
          Sept. 30 2013   Sept. 30 2012   Change
Underwriting gain         $75   $110   (32%)
Combined ratio         91.9   87.9   (4.0)
Combined ratio before catastrophes and PYD         91.1   93.3   2.2
Written premiums         $988   $960   3%

Consumer Markets underwriting gain of $75 million in third quarter 2013, a 32% decline from third quarter 2012 due to higher current accident year catastrophe losses and less favorable PYD. Before catastrophes and PYD, the third quarter 2012 combined ratio improved 2.2 points to 91.1 from 93.3 in the prior year period, driven by earned pricing increases exceeding loss costs in auto and homeowners.

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