Workers’ Comp Insurers Post First Underwriting Profit Since 2006

U.S. workers’ compensation insurers, a group led by Travelers Cos. and Hartford Financial Services Group Inc., posted their first underwriting profit since 2006, helping the industry counter lower yields on bond portfolios.

Insurers had an underwriting profit of 2 cents per every premium dollar, after claims costs and expenses, for a combined ratio of 98 last year, according to preliminary data Tuesday from the National Council on Compensation Insurance, an industry group. That compares with a combined ratio of 102 a year earlier and 109 in 2012.